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Entrepreneurship and New Business Venturing
Undergraduate | GRF-MKT341 | 2018
Course information for 2018 intake
Promote the marketing techniques best suited to small to medium enterprises. Lock in on the legal, funding and intellectual property challenges that a new venture faces. Spot market potential and make the most of entrepreneurial opportunities.
- Study method
- 100% online
- Assessments
- 100% online
- Entry requirements
- Prior study needed
- Duration
- -
HECS-HELP and FEE-HELP available
Entrepreneurship and New Business Venturing
About this subject
At the completion of this subject students will be able to:
- Understand appropriate theories, models and other tools that can be used to ensure the effective screening of new venture opportunities for their potential viability and fulfillment of private and social objectives.
2 Understand the processes involved in clarifying and elaborating new products/services and/or new venture opportunities for a better understanding and easier communication to potential investors, lenders and business partners.
3 Recognise and mitigate the risks associated with new business venture opportunities.
4 Develop the underlying marketing plan, operation plan, human resource plan, and financial plan for a proposed new business venture.
5 Develop pro-forma financial statement projections for a new business venture based on your detailed analysis of cost and revenues likely to be associated with the new venture.
6 Present your business concept and financial projections to a knowledgeable and critical audience
- Introduction to New Venturing Planning
- Strategic Design of the New Business Venture
- Business Plan Content and Design
- Identifying Target Customers
- Marketing for New Ventures
- Intellectual Property Protection
- New Venture Corporate and Organizational Structure
- New Venture Funding
- Building the pro-forma financial statements for a new venture
- Valuing the new venture and negotiating with investors
- New venture presentation and pitching skills
- Your New Venture Pitch
- Revision of unit contents
This subject develops your knowledge and understanding of new venture business. In particular, the course is designed to put entrepreneurship theory into practice. The smaller firm by its very nature allows for the integration of theory and practice and requires students to take a holistic approach to new business creation in the "real" world.
In this subject students will examine new business venture ideas for their commercial viability, legality, ethicality, and their contribution to personal and social objectives. Your intention may be to start your own business in your area of personal or technical expertise, to commercialise a new technology, or to introduce new products and services from within an existing firm or organisation – the skills required are very similar. The new venture might be established primarily for social purposes, or primarily for profit purposes, or for some hybrid of private and social benefits. Your business venture might not be profit-maximising but instead seek a satisfactory level of profit while providing psychological rewards (e.g. lifestyle advantages) to the owners of the business firm and/or social benefits to others more needy. In this subject students will research and write a formal business plan (either as an individual or in groups) for a particular new business opportunity for presentation at the end of the course.
- Quiz (20%)
- New Business Venture Concept Statement (25%)
- Elavator Pitch (20%)
- Detailed Business Plan (35%)
For textbook details check your university's handbook, website or learning management system (LMS).
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Entry requirements
Others
Note: Level 3 subjects normally assume a moderate level of prior knowledge in this area, e.g. from studying related Level 1 and 2 subjects or other relevant experience.
Additional requirements
No additional requirements
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
What to study next?
Once you’ve completed this subject it can be credited towards one of the following courses
UndergraduateGRF-BUS-DEG
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