Opportunity Evaluation

Unit Code:HEI691

Credit Points	Duration	Contact Hours	Campus	Prerequisite	Corequisite
12.5 Credit Points	One Teaching Period	36 hours	Hawthorn	Nil	Nil

Related Course/s:

A unit in the Master of Entrepreneurship and Innovation suite.

Aims & Objectives:

Opportunity Evaluation provides an overview of entrepreneurship in general and introduces many of the concepts that will be taught during the program. The focus of opportunity evaluation is how to determine the difference between ideas and value creating business opportunities. It covers the broad areas of financial and non-financial requirements for evaluating opportunities, personal business requirements, the human dynamics of opportunity evaluation and business creation and the options for business growth.

After completion of this unit students should be able to:

define the differences between an idea and an opportunity
analyse the risk attached to grasping opportunities
utilise criteria to successfully screen opportunities
identify how to find information that can be used in screening opportunities
recognise personal criteria that can be used in evaluating new ventures & innovation strategies
conduct their own evaluation process on potential opportunities
confidently evaluate other new ventures or innovation strategies presented to them

Teaching Methods:

A range of teaching methods will be used in this unit: lectures, group exercises, individual and group assignments enable the participants to apply and test the concepts and skills acquired during the program.
The teaching methodology emphasises both individual and group forms of learning. Group work is highly valued, as it is a reflection of the way in which most entrepreneurial leaders work in the current business environment.

Assessment:

Participation (in class graded activity) 15-25%
Individual presentations, report and case study reports 30-40%
Group presentations and report 40-50%

Generic Skills Outcomes:

Swinburne University of Technology works to produce higher education graduates who are capable in their chosen profession. Learners bring to Swinburne University of Technology a diverse wealth of experiences and graduate with individual understandings, abilities and attitudes.

Within this context it is the intent of unit HEI691 Opportunity Evaluation that students develop the following key generic skills:

Leadership skills
Teamwork skills
Analysis skills
Problem solving skills
Communication skills
Ability to tackle unfamiliar problems
Ability to work independently

Content:

Introduction to, and Sources of Innovation
Types of Innovation and their Appropriateness
Techniques for Evaluating Innovations
Environmental Analysis & Opportunity Recognition
New Venture Screening Guide and Initial Screen
Business Concepts and Product Life Cycles
Product Market Analysis
Competitive Advantage Issues
Management/Entrepreneurial Team
Fatal Flaws
Business/Organisational Economics
Validation of Assumptions and Implementation Issues
Alternative Business Growth & Value Creation Strategies
Presentation Skills

Textbooks:

Bygrave, W & Zacharakis, A, 2008 Entrepreneurship 1st Edition or equivalent.

References:

A set of current and relevant readings is maintained on the Blackboard website.