This subject will help students develop an entrepreneurial mindset. To identify an opportunity and successfully pursue it requires the ability to blend innovation with sound business practices. As a result, students will explore different sources of business opportunity, principles of creativity and innovation, marketing strategy, financial analysis, and obstacles facing entrepreneurial ventures. The creative and analytical skills developed in this subject will provide students with an entrepreneurial way of thinking that will serve as the foundation for successful entrepreneurial business owners, managers or employees.
|Academic unit:||Bond University College|
|Subject title:||Principles of Entrepreneurship and Innovation|
Delivery & attendance
|Attendance and learning activities:||Attendance at all classes is expected. Tutorial preparation and participation will be monitored weekly. Marks will be allocated based on level of preparation for class and degree of contribution to class discussion (see ilearn subject site for more details on grading criteria).|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Identify and describe the principles of entrepreneurship and innovation and summarise their impact on an entrepreneur's decision-making process.
- Recognise and explain the importance of a business plan and demonstrate proper development and formatting of a feasibility analysis.
- Differentiate and analyse the components of a marketing plan and the principles of smart selling and effective customer service.
- Calculate start-up, fixed and variable costs, and evaluate financial statements and strategies.
- Identify and examine structural and regulatory challenges facing entrepreneurial ventures.
- Discuss and apply entrepreneurship principles to practical examples, working independently and collaboratively.
|Class Participation||Class Preparation and Participation||20%||Ongoing||1, 2, 3, 4, 5, 6.|
|Homework||4 x Homework||40%||Progressive||1, 3, 4, 5, 6.|
|Oral Presentation §||Feasibility Analysis Presentation||10%||Week 12||1, 2, 3, 4, 5, 6.|
|Project Report §||Feasibility Analysis Report||20%||Week 12||1, 2, 3, 4, 5, 6.|
|Class Discussion||Student-led Case Study||10%||To Be Negotiated||6.|
- § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
What does it mean to be an entrepreneur?
Sources of innovative ideas and developing an entrepreneurial capacity.
Principles of creativity and innovation, and encouraging innovative thinking.
Assessing entrepreneurial opportunities by developing a business plan and feasibility analysis.
Methods of market research, market segmentation and the macroeconomy.
Combining the four P's (price, product, place and promotion) into an effective marketing plan.
Differentiating between start-up, fixed and variable costs.
Comparing income statements, balance sheets and cash flow statements.
Challenges facing entrepreneurial ventures such as intellectual property, corporate structure and insolvency.
Responding to changes in inflation, interest rates and exchange rates.
How to effectively build and manage a successful team.
Developing entrepreneurship and innovation within organisations.