- One teaching period
- 36 hours
On-campus unit delivery combines face-to-face and digital learning.
Aims and objectives
This unit builds on Opportunity Discovery (ENT60006) and aims at designing and implementing an opportunity evaluation and feasibility approach to meet a business or societal need. The focus of this unit is on opportunity analysis and evaluation tools, business planning, growth potential and implementation planning as well as investment decision-making. This unit is largely process orientated. The processes and evaluation techniques taught in this unit can be applied to entrepreneurship and innovation in any context: new businesses, existing businesses (small or large), not-for-profit, public service.
After successfully completing this unit students will be able to:
- Apply coherent and advanced knowledge to comprehend and evaluate entrepreneurial opportunities and refine the business model toward a fundable, sustainable strategic commercialisation plan for implementation.
- Critically analyse the tools and research techniques for opportunity evaluation and implementation and apply to a wide variety of entrepreneurship and innovation contexts.
- Apply critical thinking to research and evaluate theories and models from a range of disciplines and integrate this learning with personal experience to develop a strategic commercialisation plan.
- Apply business planning fundamentals, based on primary and secondary research, to the construction of a fundable strategic commercialisation plan using independent thinking.
- Work in collaborative groups and present a fundable business opportunity to a panel of potential investors.
Courses with unitThis unit is no longer offered
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Class (3 hours)
1. Assignments (Individual) 55-65%
2. Strategic Commercialisation Plan (Group) 35-45%
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
- Problem solving skills
- Analysis skills
- Communication skills
- Ability to tackle unfamiliar problems
- Evaluating busines opportunities through market research
- Developing the Minimum Viable Product (MVP)
- Customer Validation and value proposition
- Choosing the right channels
- Customer relationships
- Financial operations, sources of funding, what funders look for
- Team and partner analysis
- Auditing the industry
- Auditing the market, your competitors and your business
- Legal issues
- Presenting the Strategic Commercialisation Plan with confidence
- Reading materials.
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.