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New Venture Development

Unit Code: HBN500

Duration	Contact Hours	Campus	Prerequisite	Corequisite
1 Semester		Hawthorn	Nil	Nil

Credit Points: 12.5 Credit Points

> Teaching Methods
> Assessment
> Aims & Objectives
> Generic Skills Outcomes
> Content
> References

Aims & Objectives:

The intention of this unit is to allow students to gain an understanding of the process of developing and managing a new business start-up. It provides an introduction to the skills necessary to commercialise new technology and to commence a new business operation. It will be directed at developing practical skills and experience incorporating relevant theory.

Specific aims are:

Develop skills in sourcing new venture ideas.
Develop skills in market evaluation for new technology.
Understand financing and supply for new start operations.
Understand the requirements for operational system design and implementation for new ventures. (Purchasing and processing).
Know sources of information and assistance for new ventures.
Develop an analytical and strategic perspective to the operation of new business ventures; in particular:
- The strategies which are required to design and produce internationally competitive goods and services.
- The strategies which are required to market new goods and services in local and international markets.

Teaching Methods:

Distance Education

Assessment:

Online contribution through case studies 30%, New Venture Proposition Summary 30%, New Venture Proposal 40%

Generic Skills Outcomes:

Graduates are capable in their chosen professional areas:

Are informed and knowledgeable in the area.
Have the ability to engage in informed critical enquiry.
Have pertinent skills and ability.

Graduates operate effectively in work situations:

Have the ability to work independently & collaboratively.
Have the ability to effectively communicate across a range of media and varied in contexts.
Have the ability to operate locally, nationally and internationally.

Graduate are adaptable and manage change:

Are self-motivated.
Have multi-faceted research and problem solving skills.

Graduates are aware of environments:

Are able to evaluate the economic, social and environmental impact of their decisions.
Are able to make balanced decisions taking into account all of these factors.

Graduates are entrepreneurial:

Have the ability to critically understand innovations and developments.
Have the ability to make links and connections between developments and opportunities within/across diverse environments.
Have the ability to identify and realise opportunities for responsible innovation.
Have an aptitude for calculated, socially responsible risk taking.
Have the ability to deal with success and failure through informed critique and self-reflection.

Content:

This unit provides an introduction to the skills necessary to commercialise new technology and to commence a new business operation. It will give the student a framework for generating, evaluating and implementing new business opportunities. It will achieve this by looking at the practical problems and issues of resource acquisition market, development and financial management of greenfield enterprises. It will cover a range of industry types. It will be global in coverage but also seek to focus on the topic from the context of Australia's challenges and opportunities.

References:

Reference material and prescribed texts are provided on Blackboard in the Unit outline each semester