Creating Your Own Enterprise

This subject has the following teaching availabilities in 2016:

272 hours

Entry to the Master of Entrepreneurship and completion of:

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

The purpose of this subject is to lay the foundations of launching a viable entrepreneurial venture based on the concepts of lean start-ups and design thinking. The Winter intensive session starts with idea generation where all students create ideas according to their entrepreneurial interests and to recapitulate learning from Semester 1. Students then form entrepreneurial founder groups of approximately four to develop the idea that will be the basis of their group project. In the process students will learn pitching skills to pitch individual and then team ideas. Next, students will translate this idea into an initial Business Model Canvas framework and develop testable entrepreneurial hypotheses. Topics include: value propositions, customer relationships, distribution channels, key activities, key resources, key partners, revenue streams and cost structure. In Semester 2, student teams will proceed to test their initial hypotheses with stakeholders in the marketplace. In this process students learn skills to establish viability of their entrepreneurial concepts and pivot their initial models. At the end of Semester 2, students will produce a final pitch document and give a presentation. The subject teaches team development throughout both semesters training students in team selection, structure, roles and team norm and process development.

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

• create a usable entrepreneur venture concept based on validated assumptions;
• analyse business environment to validate and refine business models;
• critically apply and evaluate lean start-up and design thinking methodologies;
• demonstrate team collaboration skills in the execution of an entrepreneurial product;
• demonstrate skills in pitching entrepreneurial ideas to the investor community.

• Create a business model canvas. Group; (500 words per student equivalent). Due end of winter term (10%)
• Oral report on validation work. Group; throughout semester; 3 x 20 minute presentations (750 words per student/presentation equivalent). Due throughout semester (30%, 3 x 10%)
• Written evaluation of the business model canvas. Group; (1000 words per student equivalent). Due Week 12 (20%)
• Final pitch document and presentation. Group; (1500 words per student equivalent) (30%); presentation 30 minutes (10%). Due end of Semester 2 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
• Think critically, and organise knowledge, from consideration of the lecture material and development of business canvas
• Develop creative ways of solving unfamiliar problems, through the exercises

Moderate level of development:

• Learn to adopt new ideas, from participation in the lecture program
• Plan effective work schedules, to meet the regular deadlines for submission of assessable work

Some level of development:

Present an argument, by reflecting on those presented in the lecture series and readings.