Aims & Objectives:

• Identify the resources required for the new venture
• Prepare detailed plans for the establishment of a new venture
• Assess the risks associated with the establishment of a new venture
• Develop and communicate strategies to mitigate new venture risks
• Prepare strategies and proposals to secure the required resources
• Work as a team to develop alternate strategies and present proposals

Teaching Methods:

Lecture (1 hour), Case Study Seminars (1 hour), Tutorials (1 hour)

Assessment:

Written case study analysis (30%), Individual assignment (15%), Class participation (20%), Team Project – development of business plan (35%)

Generic Skills Outcomes:

• Capable in their chosen professional, vocational or study areas
• Entrepreneurial in contributing to innovation and development within their business, workplace or community
• Effective and ethical in work and community situations
• Adaptable and able to manage change
• Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

Content:

• Development & validation of business plans
• Establishment of the new business
• Growth & exit strategies
• Establishment of the new venture
• Franchising partnerships and outsourcing
• Contingency planning

Reading Materials:

Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.