Creating a Successful Business Model

This subject has the following teaching availabilities in 2016:

Total time commitment: 136 hours

Entry to Master of Entrepreneurship

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject introduces the business model as the mechanism used by entrepreneurs to deliver value to their selected target markets, as well as the method by which entrepreneurs capture value. This is a dynamic process that underpins the commercialisation of innovation. The challenges of designing and implementing a business model are considered, as well as the skills, resources and relationships that an entrepreneur will need to manage activities like corporate venturing and pivoting that lead to the creation of successful business model. The subject also considers the way that emerging concepts like shared value can be incorporated into a business model including marketing. This is done though comparative analysis of competitors who use different but equally successful business models, as well as considering applications where business models have failed. The subject also considers metrics for assessing the ongoing health of the business model, as well as business models as a form of innovation, not just a vehicle for entrepreneurship. Finally, the subject focuses on the applied challenges for students– the development of business models for the garage project (pop-up) and their own enterprise.

On successful completion of this subject, students should be able to:

• demonstrate an understanding of the business model in the context of the broader business, economic and regulatory context;
• discuss business models as a form of innovation;
• incorporate the idea of shared value in own business models;
• create an enterprise that responds to industry and technology dynamics;
• analyse and reimagine the business model;
• create a business model for the garage project.

• Group poster and presentation on a successful business model based on a case study –1000 words per student equivalent (10%) and 10 minute presentation (10%). Due in Week 4 (20%)
• Group analysis of another group’s business model - 1000 words per student equivalent. Due in Week 6 (20%)
• Poster and presentation on the garage project business model – 1000 words per student equivalent (10%) and 10 minute presentation (10%). Due in Week 9 (20%)
• Individual 2000 word research report on business model validation. Due in exam period (40%)

You will be advised of the prescribed texts by your lecturer.

This subject is not available as a breadth subject.

High level of development;

• Develop problem-solving skills through exercises and cases
• Think critically, and organise knowledge, from consideration of the lecture material
• Develop creative ways of solving unfamiliar problems, through case analysis and activities
• Learn to adopt new ideas, from participation in the lecture program and assessment

Moderate level of development

• Plan effective work schedules, to meet the regular deadlines for submission of assessable work
• Present an argument, by reflecting on those presented in the lecture series and readings