Hunter Centre for Entrepreneurship

Z1216 Entrepreneurship: Opportunities and Ventures

2013/14 Semesters 1& 2 Mondays 14.00-16.00 Graham Hills 509

Dr Paul Ferri - paul.ferri@strath.ac.uk - 0141 548 3226

Handbook last update September 2013

Table of Contents
Class Rationale, Descriprion & Introduction ..............................................................................4 Class Aims & Learning Outcomes .............................................................................................5 Timetable ....................................................................................................................................7 Tutorials...14 Assessments 16 . Reading List 22 Appendix 1: Feedback forms. 23 Notes:.27

IMPORTANT
Please note this class handbook should be used in conjunction with the Hunter Centre Undergraduate Handbook which is available on Myplace or by emailing the department secretary, Emma Stephen: emma.stephen@strath.ac.uk

The UG handbook sets out the policies and procedures that all undergraduate students must adhere to when taking HCE classes including:

Late penalties for late submission of coursework. Deductions for missing tutorials. Absence notification procedure. Plagiarism and academic integrity. Students are not allowed to post documents related to their assignments on external websites such as Facebook. Students are strongly encouraged to use the MyPlace forums that exist for their group assignments in each class

1. Class Rationale
This is a Year 1 class for the BBA degree. It will introduce students to the theory and practice of entrepreneurship, opportunity identification, innovation and the role of commercialization in bringing entrepreneurial innovation to the market by developing new ventures. It is intended to give students a broad understanding of entrepreneurship, the arenas in which entrepreneurship is practiced, and the role of the entrepreneur in economy and society. The practical component will introduce students to entrepreneurship in the real world through engagement with entrepreneurs and the entrepreneurial process (e.g. guest lectures, cases, desk research, and group work). Subsequent classes will build on the knowledge, understanding and skills that students have acquired here.

2. Class Description/introduction
This class has two themes. The first is about entrepreneurship and opportunity identification. It takes students through the key entrepreneurship literature in order to introduce them to the concept of entrepreneurship, the role of entrepreneurs and their contribution to economy and society from both historical and present day perspectives, focusing in particular on the radical and disruptive effect of entrepreneurship and innovation. The second theme looks at how these theories and concepts occur in practice, through the commercialization (evaluation and exploitation) of business opportunities. The class will address the following topics: Definitions what is entrepreneurship, who is an entrepreneur, what do entrepreneurs and innovators do? The entrepreneur and the economy contributions to innovation, new products, new industries, new jobs The domains of entrepreneurship entrepreneurship is more than just about business start-up: entrepreneurship in family businesses; entrepreneurship and businesses in distress; entrepreneurship in the corporate sector; social entrepreneurship, entrepreneurship in government Entrepreneurship as a source for good: ethics, corporate social responsibility, societal contributions, philanthropy The relationship between entrepreneurship and innovation The entrepreneurial process Identifying business opportunities The commercialization of business opportunities Business growth Business failure and survival Entrepreneurship as a career option for graduates

3. Class Aims
a) b) Provide an understanding of what entrepreneurs do and the various environments in which entrepreneurship can occur. Raise awareness of the importance of entrepreneurship in the 21st century and a critical appreciation of the role of entrepreneurs and innovators in the economy and in society Develop an understanding of entrepreneurial fundamentals and key entrepreneurial skills opportunity identification, creativity and innovation Appreciate the economic and social role of innovation and commercialization Understand how businesses grow and the changing role of the entrepreneur Provide the opportunity to practice key entrepreneurial skills such as creativity, leveraging resources to exploit opportunities Encourage students to recognize entrepreneurship as a credible career option, to understand the need to develop a career strategy which includes the development of enterprising skills

c) d) e) f) g)

4. Learning Outcomes
Understanding what entrepreneurship is, what entrepreneurs do, and the economic and societal contributions of entrepreneurs Understanding of the centrality of opportunity in the entrepreneurial process Understand the role and importance of creativity in the entrepreneurial process Understand the role and importance of innovation in relation to entrepreneurship Understand how business opportunities are commercialized and brought to market Understand how the role of the entrepreneur, and the skills required, change as the business grows Research skills: use of library electronic resources, search for sources and integration of material; engagement with potential customers and suppliers Development of skills of critical interpretation Working in teams Problem solving techniques Oral presentation

At university you need to be active and independent learners that means not relying just on the lectures and tutorials but also do your own learning in the form of independent reading. The lectures are intended to give you basic understanding of topics and a structure for organising your own learning. You also need to be a reflective learner in other words think about what you have learnt and its applicability in the real world. You are expected to follow up the teaching sessions with your own independent reading. A reading guide is provided, but dont limit yourself to what I have suggested. Moreover, dont confine your reading to the academic literature there is a lot of valuable material on entrepreneurship in the newspapers and business magazines, most of which also have useful web sites containing entrepreneurial resources. You are expected to attend lectures without the context and basic knowledge provided during lectures you may find it difficult to get the full benefit from your

independent study. Copying someone elses lecture notes or getting a copy of the PowerPoint slides is not an adequate substitute for the lecture. My intention is to make the lectures reasonably interactive and some will include guest speakers from industry. Another great reason for attending lectures is that some of the questions in the two online tests you have to complete will be drawn from the lectures and they might not always be on the slides! The tutorials are compulsory. If you fail to attend tutorials you may not be allowed to pass the class. The aims of the tutorials are to provide an opportunity to go into greater depth in some topics than is possible in the lectures, to provide a more personalised learning context and to provide the opportunity to develop your verbal communication skills. Your tutorial work contributes to the assessment for this class. The class assignments are a further source of learning, specifically by enabling you to put what you are learning through lectures, tutorials and reading into practice. Please consult the Undergraduate Handbook at Myplace for further details on penalties that apply for late submission where there is no valid explanation. It is vital that you get in touch with the Department Secretary Emma Stephen, (emma.stephen@strath.ac.uk ) or Class Co-ordinator Dr Paul Ferri (paul.ferri@strath.ac.uk) if you are experiencing any situation (e.g. personal, family or medical) which is affecting your ability to study, attend the lectures and tutorials or submit the course assignments on time.

5. Class Timetable, Topic Guide & Learning Objectives

1st SEMESTER (please be aware that lecture topic dates may be subject to change at short notice due to operational reasons)

Wk

Dat e 23 Sept

Lecturer

Topic

Learning objective

Paul Ferri Orientation and (PF) Introduction

To understand the aims and content of the Class and how it will be assessed

THEME 1. ENTREPRENEURSHIP BASICS 3 7 Oct PF What is entrepreneurship? Understanding what entrepreneurship is, what entrepreneurs do, the different domains of entrepreneurship (e.g. corporate, family), and what entrepreneurship matters (economic and social impacts) That entrepreneurs are not super heroes: anyone (almost) can become an entrepreneur; and some people are entrepreneurs without realising it Understanding what has to come together for an entrepreneurial event to occur This perspective proposes that a start-up should proceed in a series of iterative steps which test the assumptions that lie behind the business to for validity before investing significantly in scaling up the business. Where do opportunities come from? Are they found or are they made?

3 4 4

7 Oct 14 Oct 14 Oct 21 Oct

PF PF PF

Are entrepreneurs different? How businesses get started The Lean Start-Up

Dominic Chalmers (DC)

Opportunity Identification

28 Oct

DC

Creativity and Innovation

In this session you will learn techniques to enhance your own creativity

THEME 2. ENTREPRENEURIAL FUNDAMENTALS 7 4 Nov PF/Guest Speaker The Stingy Start-up One of our HCE PhD Students, Johan de Borst, will introduce the class to his book The Stingy Start-up. In the book he advises that you dont need a lot of money to start up a business. You will learn that using available resources can be the key to a successful business start-up. You need a competitive advantage to survive and prosper. How do you avoid imitators? How do you beat the competition? How do create barriers to competition?

11 Nov

DC

Creating sustainable competitive advantage Pricing

18 Nov

DC

Many entrepreneurs think that the best way to compete is on price. But in practice this will not create a sustainable competitive advantage. Accordingly, you dont need to set your prices below those of the competitors. So, how do you set prices? Understanding what IP is, its different forms, why it needs to be protected and they ways in which it can be protected

10

25 Nov

PF

Creating and protecting your Intellectual Property Revision Session

10

25 Nov

PF

The 2nd part of the lecture will review material covered during weeks 1-10

10

On-Line Test 1 27 November 2 Dec PF

Test will be based on material from weeks 1-10

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Dealing with the The risks to a start-up business of newness and how these risks can be overcome. What liability of newness other risks do new business owners need to deal with?

Business Risks 9 12 12 Dec 9 Dec PF PF Financing the new business Ethical and socially responsible Entrepreneurship Understanding the different sources of finance and their roles; sources of finance; and debunking Dragons Den. How most businesses are financed (not by VC/angels!) Importance of bootstrapping. Society expects businesses to behave ethically and responsibly. Integrity and ethical conduct are critical in the creation of a successful business. Todays entrepreneurs are faced with many ethical decisions. Society also expects business to contribute back to society. We look some of the issues surrounding ethics and entrepreneurship. Semester Review & Open Discussion

12

9 Dec

PF/DC

Class Feedback & Review

16 Dec

Christmas Vacation

No Classes

2ND SEMESTER

Wk

Date

Lecturer

Topic

Learning objective

INTRODUCTION TO THE VALUE CHALLENGE 1 20 Jan PF Introduction to Value Challenge The purpose of this assignment is for students, working in small groups to create value through an entrepreneurial activity. Value can be measured in simple financial terms the income generated, minus costs (if any). However, social value may also be created e.g. benefit to a disadvantaged group. This lecture will explain the learning objectives, scope, requirements and deliverables. Pitching as a key entrepreneurial skill e.g. for money, staff, customers. Video of an entrepreneurs doing a horrible pitch for money what did he do wrong?

Pitching Essentials THEME 4. ENTREPRENEURIAL SKILLS 2 27 Jan Selling

3 Feb

Negotiating skills

10 Feb 17 Feb 17 Feb PF

Financial management

Networking and Social Capital Social Media

Selling is the most important entrepreneurial skill of all but virtually never features in courses or textbooks. You will be introduced to some basic techniques of selling. The ability to negotiate effectively is an important life skill. It is critical for entrepreneurs who are often negotiating from a position of weakness. We look at how to negotiate to ensure favourable outcomes. Cash is king understanding the basics of financial management is critical for anyone running their own business. These classes are a must for the nonfinancially minded as they are for students of finance and accounting! An entrepreneurs ability to cultivate and manage relationships with individuals and institutions is a key skill and an essential condition for success. These networks can be sources of information, credibility and resources. SM is an important tool for entrepreneurs. However, after you have created your Twitter profile and developed a Facebook page then what? We look at how entrepreneurial businesses should use social media for maximum effect.

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Theme 5 6 24 Feb PF Public Sector Entrepreneurship (PSE) Technology Entrepreneurship

ENTREPRENEURSHIP IN DIFFERENT CONTEXTS It is widely accepted that the public sector needs to be entrepreneurial if it is to provide better quality services. We look at the barriers to entrepreneurship in the public sector. We also look at situations in which these constraints have been loosened (e.g. schools) enabling more entrepreneurial activity. This lecture will discuss bridging the gap between researchers, technologists and mainstream customers by providing students with a better understanding of what it takes to create and grow technology-based businesses.

3 Mar

PF

Social entrepreneurship

Guest Speaker

Social entrepreneurship involves the application of entrepreneurial skills to developing responses to social needs. This lecture looks at the characteristics of social entrepreneurs, types of social businesses and the challenges involved in being a social entrepreneur. A guest speaker will talk to the class about their business. They will discuss why a social business and how they believe they make a difference.

10 Mar

PF

Corporate Entrepreneurship

Entrepreneurship is not confined to starting new businesses. Large businesses seek to stimulate entrepreneurial activity as a means of innovation and diversification. This lecture looks at various manifestations of corporate entrepreneurship and their effectiveness.

10 Mar

PF

Entrepreneurial learning and Successful entrepreneurs are active learners. This lecture looks at the various learning from failure ways in which entrepreneurs learn, including failure which many entrepreneurs regard as the most effective means of learning. Family Firms Family businesses are a unique type of business, where issues of relationships, succession and survival are prominent. This may conflict with their need to be

17 Mar

PF

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entrepreneurial. 9 10 17 Mar 24 Mar PF International Entrepreneurship Revision Session In this part of the lecture students will be introduced to entrepreneurship from an international perspective This class will be student led and will review material discussed during weeks 19 during semester 2

10

26th March

On-Line Test 2 26 March

th

Test will be based on material from weeks 1-9

Spring Break 11 15th April PF Preparing for an entrepreneurial career Having done this course you want to follow an entrepreneurial career. We consider what you can do at university to prepare for an entrepreneurial career. We also consider strategies after graduation. Do you work for someone else initially to gain experience? If so, where will you get the most useful experience? Or should you start your business as soon as possible? Covering Material from 2nd Semester

11 12

19th April

PF

Revision Session

Self study // no lectures

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6. Tutorials
This class will be supported by four tutorials in each semester. Each tutorial group will be facilitated by a tutor from the HCE. Tutorial groups will meet on the following weeks: Semester 1. 1. 2. 3. 4. WEEK 4: w/b 14th October 2013 WEEK 6: w/b 28th October 2013 WEEK 8: w/b 11th November 2013 WEEK 10: w/b 25th November 2013

Semester 2. 5. 6. 7. 8. WEEK 4: w/b 10th February 2014 WEEK 6: w/b 24th February 2014 WEEK 8: w/b 10th March 2014 WEEK 10: w/b 24th March 2014

Attendance is mandatory unless supported by a medical certificate. You should assign yourself to a tutorial group using MyPlace no later than by 12.00 Friday of Week 2. All students are expected to actively participate in tutorials by preparing appropriate materials to bring at each tutorial session. The purpose of the tutorials is to support the learning process, to help you in developing and completing relevant assignments and to provide feedback to you on your performance. If you come to a tutorial unprepared or without any required written homework, you may be asked to leave the class. TUTORIAL TOPICS (i) Week 4 Semester 1 Topic Preparatory work Each student should watch an episode of the BBCs Dragons Den programme (these are available on YouTube). What does it tell you about entrepreneurs and entrepreneurship? Tutors will facilitate a discussion on what is accurate and realistic in the Dragons Den and what is not. Does it matter if the Dragons Den is not entirely realistic? Additionally each student should prepare for this tutorial by reading Luke Johnsons article BBC does business a dramatic disservice in the Financial Times, 28th July 2010 (available at http://www.ft.com/cms/s/0/9f41d7b2-99b0-11dfa852-00144feab49a.html Do you agree/disagree with him? Look on the web for other comments on Dragons Den which support your position and bring an example to the class.

What has the Dragons Den got to (14/10) do with entrepreneurship?

Opportunity Recognition and (28/10) Implementation

You will be working in teams of 4-5 in your tutorial group discussing ideas for a business to take forward in the value challenge. Prior to attending the tutorial, each team needs to bring with them a brief summary (of no more than 500 words), outlining 3-4 potential ideas for a new business. This

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can be either for a product or service. During the tutorial, the tutors will help you to reflect on these ideas and whether one of these ideas can be synthesized and evaluated, in order to choose one for further development. You will apply the SCAMPER Model as taught in class. This exercise will also focus your thinking on writing your group reports for Assignment 1. 8 (11/11) Profile of an entrepreneur Working in your assigned groups of 4 or 5, you should choose an entrepreneur to research. Using web resources, the library and any other material you can discover, prepare a 5 minute presentation about this entrepreneur. You should say why he/she was motivated to start their business and what the opportunity was that they spotted in the market. Each member of the group should participate either presenting or answering questions.

10 (25/11)

Value Challenge I

This session will start with a brief review of some of last years ideas the good, the bad and the ugly. Each team needs to bring to the tutorial a brief 150 word summary of their preferred business idea showing how they intend to create value with their product or service.

(ii) Week 4 (10/2)

Semester 2 The Art of Bootstrapping and application on the Value Challenge project Bootstrapping is a way in which to obtain resources at no cost or below market value. Given that most start-ups are financially constrained this is a critical skill. You need to research this topic in the literature and on the web. Each group will need to bring 2 examples of bootstrapping used by actual entrepreneurs (write a 150 word summary of each example) and try to think of how bootstrapping might help the team with the value challenge exercise. Each group presents a brief work in progress to the rest of the tutorial class by preparing 3 slides on the current status of their venture. The presentation should Include details on how it is generating value as well as highlighting any successes and failures to date. What has worked and what has not worked?

6 (24/2)

Value Challenge II

Other team members and individual tutors will ask questions, challenge assumptions give feedback and decide next steps. 8 Elevator Pitches You will be given three elevator pitches by entrepreneurs seeking funding for their business ideas.

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(10/3)

You will assume that your group are a potential investors. Come to the tutorial with answers to the following questions for each pitch: Is the pitch comprehensible? Is the pitch engaging? How compelling is the idea? How could you make the pitch more compelling? Would you invest? State your reasons.

10 (24/3)

Value Challenge Presentations

Presentations by value challenge teams Presentations should include what was learned from the value challenge experience, key highlights, key challenges, outcomes (value created), what they would do differently, entrepreneurial skills that have been developed. Everyone votes for what they think is the best outcome.

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7. Assessments
This class is assessed through 3 individual and 3 group assessments throughout the two semesters. Students who manage to achieve an average of 60% over these 6 pieces of assessment will be exempt from sitting in exams in the May exam diet. Active participation and preparation for tutorials and regular attendance of the lectures will enhance your chances of gaining exemption from the exam for this class N.B. when submitting group assignments ALL members of the team are expected to individually upload a copy of their assignment. If they do not, this will prevent the entire group from receiving their mark and any feedback. This applies to the first group assignment, the value challenge report and value challenge presentation. SEMESTER 1 Assignment 1: Group Work: Creativity & Opportunity Exercise 1,500 Words Weighting 15% In this group report, students in groups of no more than 5 are expected to outline the process and outcomes of a creative problem solving exercise. By drawing on the SCAMPER Model, students are asked to think creatively using the skills and techniques taught in class regarding creativity and innovation. As a consequence, students should be able to specify a potential solution for a problem they have identified. In the report, the students are expected to: a) Clearly identify and describe an existing problem for which an entrepreneurial team could provide a solution that creates financial or social value. b) Clearly identify the way different stakeholders and environmental factors influence this problem. c) Draw on the SCAMPER model and describe how the team generated ideas, narrowed down those ideas and came up with the most practical solution. In addition, they should also demonstrate how they evaluated the merits of the solution and how the team believe they could implement the solution to alleviate the problem. d) Provide a detailed implementation and action plan for the application of their solution to the identified problem. The assignment needs to be written in report format and it is assessed on its structure, content and presentation. The maximum length of the report should be 1,500 words, excluding any references, appendices and the executive summary. In terms of structure, each report should have a title page, an executive summary, a table of contents, an introduction, a methods section, an analysis and interpretation section, a conclusion and recommendation section and a list of references (Harvard Style) together with appendices, if appropriate. In terms of content, the following criteria is assessed; the level of knowledge and understanding of the problem the team has identified, clarity on the factors and stakeholders defining this problem and how they affect its solution, the application and utilization of the SCAMPER Model and on the originality, quality and imaginativeness demonstrated by each team in resolving the problem. In terms of presentation, emphasis should be paid to the professional look and feel of the report. Emphasis should be given to making sure the report is free of grammatical mistakes, typos and that sentences are constructed in good business level English.

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Submission date: By 4.00pm Thursday 14th November 2013 [Week 8] Assignment 2. On-line tests via Myplace (1 x Semester 1 & 1 x Semester 2) (Weighting: 30%) There will be two on-line class tests to examine your knowledge of the materials covered in semester 1 and in semester 2 lectures. These are compulsory and count towards your overall mark for this class. Anyone who does not submit, without valid medical evidence, will get a mark of zero. Tests must be taken without collaboration and without any open books/notes. In order to prepare for these tests, you need to make sure that you have read and revised all relevant chapters from the core textbook of this class and all the notes and slides that you have taken while attending ALL lecture sessions of both semester 1 and 2. Please note that as some questions will be drawn from lecture materials, continual attendance at lectures is in the best interests of all students who wish to pass with good grades. Online Test 1: multiple choice questions to test your understanding of theories and concepts covered in the first part of semester 1 up to Monday 25th November. The questions will be available on MyPlace from 8.00am Wednesday on 27h November 2013 and you will have a 12 hour window to take the test. You will be allowed 45 minutes to complete the test. Test date/Location: Wednesday 27th November 2013/ any on-campus university computer Please Note: There will be a mock text on Wednesday 20th November for students to get familiar with Myplace on-line tests. More details will be provided in class and in tutorials. Please note that access to on-line Test 1 will only be possible on completion of the mock test. Semester 2 On-line Test 2: multiple choice questions to test your understanding of theories and concepts covered in semester 2 up to the 24th March. The question paper will be available on MyPlace from 8.00am Wednesday 26th March 2014 and you will have a 12 hour window to take the test. You will be allowed 45 minutes to complete the test. Test date/Location: Wednesday 26th March 2014/ any on-campus university computer ASSIGNMENT 3. Individual essay (weighting 20%) In this individual essay, students are expected to draw on materials presented in the lectures, video case studies, the value challenge experience and academic readings in order to answer ONE from the following questions: What do you think motivates individuals to become entrepreneurs? What factors contribute to starting a successful entrepreneurial business? What key skills does it take to become an entrepreneur? What key challenges do entrepreneurs face in trying to grow their businesses? What strategies do entrepreneurs use to growth their businesses?

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In your essay, you need to refer to at least two journal articles and draw on at least 4 of the video case studies. The video cases are available at http://www.sbs.strath.ac.uk/entrepreneurship/ The maximum length of the essay should be 1,500 words excluding any references. The essays are assessed on their content, presentation and structure. Specifically, in terms of content, we (a) assess the overall ability of the student to logically develop an argument in answering one of the above questions (b) assess the ability to critically collect, evaluate and synthesise information (from the videos and the academic journals) and (c) we expect students to demonstrate a sound understanding of the topic area. In terms of structure, each essay should have a clear introduction section, a main discussion section and a conclusion section. Please consult the appendix section of this handbook and identify the relevant essay feedback form on what is expected in each section. In terms of presentation, emphasis should be paid in appropriate referencing of external sources (Harvard style) and in making sure that the essay is free of avoidable errors, grammatical mistakes and typos. Submission date: Friday 7h February 2014, 4pm (week 3) ASSIGNMENT 4. THE VALUE CHALLENGE (weighting: 35%) Introduction The purpose of this assignment is for students, working in groups of four or five (who must all be in the same tutorial group), to create value through an entrepreneurial activity. Value can be measured in simple financial terms the income generated, minus costs (if any). However, social value may also be created e.g. where your product or service is of benefit to a disadvantaged group. There are a wide range of possibilities of what you might do. You might produce a product that you can sell You might transform an existing product into something of higher value (e.g. how could you transform a tennis ball to create value) You might undertake to provide a service that people will buy

These are only three possibilities. However, the possibilities are endless. We want you to think out of the box and try to come up with an innovative product or service. What you must not do is come up with a one time only idea such as a pool tournament, 5 a side football competition, a battle of the bands night or a party/club event. We require you to have a product or service that could be on-going in nature. Project Details and Description You are allowed to invest a maximum of 20 in total. This is to limit the downside risk. You might need to buy some materials (which you transform), some equipment (to perform a service) or pay for travel. But remember that this investment has to be subtracted from the income that you generate to calculate the financial value that you create. All projects must be summarised and submitted to their tutor in the first instance and then on for approval by Dr Ferri. Approval must be gained before meaningful activity on the project commences. Student projects must not:

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violate any laws or contravene any of the University Strathclydes established policies; use or involve food preparation, alcohol, sex, gambling, tobacco, firearms, explosives or any other illegal, dangerous, or toxic substances or involve working with children or vulnerable adults; IN ANY WAY endanger the safety of group members or the public at large, or the environment; IN ANY WAY endanger the reputation of the Hunter Centre or the University of Strathclyde; IN ANY WAY violate the Strathclyde Business School code of professional conduct.

All profits generated this year will be given to Yorkhill Childrens Foundation. (Your predecessors last year raised 2550.03 and I would like you all to beat that this year!) In week 9 of Semester 1, each student needs to bring to the tutorial a brief summary of 3 business ideas that can create value and would like to explore in semester 2 as part of the value challenge project. Students will form into groups of 4/5 and provide a summary of no less than 150 words describing how their ideas can generate value. In the week five of Semester 2, each group is required to present the idea they have chosen (from the initial 3 ideas for the value challenge) to the rest of their tutorial class. This presentation should cover what they done to date and what they plan to do. Feedback will be provided by the tutor and other members of the tutor group. A penalty of 5%-10% from any final mark will be allocated if insufficient progress has been made. Each group will present to the class in week 9 (w/b 17th March). Each presentation should be a maximum of seven slides which cover the following: Introduction including company name and team members (i) what was the opportunity; (ii) how was it exploited; (iii) resources used; (iv) how successful was the venture ( how much money did you make?); (iv) what were the lessons learnt; Concluding thank-you slide including any questions. Value Challenge Assessment Presentation: Each group will make a presentation to the class in week 9 (in their tutorial slot). Each presentation should be a maximum of five slides which cover the following: (i) what they did; (ii) resources used; (iii) how successful; (iv) any lessons learnt. The Presentation accounts for 10% of the overall mark. Presentations by value challenge teams. Presentations should include what was learned from the VC, key highlights, key challenges, outcomes (value created), what they would do differently, entrepreneurial skills that have been developed. Any slides/notes that were used to complete the presentation should be uploaded onto MyPlace by 4pm on Friday 21nd March 2014 (week 9). If you did not use any notes/slides then please inform the department office as this will prevent unnecessary emails from being sent and any delays in releasing marks. Written report: The assignment needs to be written in the form of a report and is assessed on its structure, content and presentation. The maximum length of your report is 2500 words excluding any appendices. Your group report must be submitted by 4pm on Friday 28th March (week 10) 2013. The report accounts for 25% of the overall mark. Your report should be in 2 parts and must cover the following: Part 1. A. A description of the activity a. Reasons for choice of this activity

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b. The roles of each member of the team c. Resources used to deliver the activity (financial and non-financial) d. A step-by-step account of what you did to deliver the activity e. Key decisions that you made about what you did and how. f. A description of the customer(s) B. Financial information: a. Amount of any financial investment (contract with any external funder needs to the included) b. Itemised expenditure (include receipts where possible) c. Revenue generated d. Financial value created [c (b+a)] 9. Non-financial value created Part 2. Learning reflection a. What have you learnt about entrepreneurship from this activity? b. What have you learnt about yourselves from this activity (paragraph for each team member)? c. What would you do differently if you were starting again? The report should include illustrative materials (e.g. photographs and/ or illustrations) which complement the text.

EXAMINATION There will be an examination at the end of semester 2 (during the May exam diet) for students who do not achieve an average mark of 60% on their coursework.

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8. Recommended Reading List

Class Core Textbook Biniari, M. (ed) (2012) Z1151 Entrepreneurship Theory and Practice. (Custom Edition) ISBN: 9781408076521. (Available for sale from John Smiths Bookshop, here on campus) Additional Reading Bolton, B and Thompson, J (2005) Entrepreneurs: talent, temperament, technique, Elsevier, 2nd edition. Burns, P (2011) Entrepreneurship and Small Business, Palgrave, 3rd edition Bygrave, W and Zacharakis, A (2008) Entrepreneurship, Wiley Carter, S. and Jones-Evans, D. (2012) Enterprise and Small Business, Principles, Practice and Policy, Prentice Hall, Third Edition. De Borst, J. (2013) The Stingy Start-up, Published by StingyStartup.com. Book available through Amazon.co.uk and on Kindle. Timmons, J A and Spinelli, S (2008) New Venture Creation: Entrepreneurship for the 21st century, McGraw-Hill, 7th edition. Westhead, P, Wright, M and McElwee, G (2011) Entrepreneurship: Perspectives and Cases, FT Prentice Hall. Luke Johnson (2011) Start It Up: Why running your own business is easier than you think, Viking

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9. Appendix 1: Feedback forms

HUNTER CENTRE FOR ENTREPRENEURSHIP Group Report on Creativity and Opportunity Feedback form and assessment criteria
Class Code and title: Z1216 Entrepreneurship: Opportunities and Ventures Students names: Group Number: Structure (20%) Executive summary -Structure -Content -Writing style Structured and logical flow Balance & focus on key points In-text references and bibliography Appropriate use of appendices Content (60%) Clear statement of purpose Relevance to course and addressing all report objectives Understanding of the community problem Understanding of the factors affecting this problem (stakeholders, environment,) Quality and imaginativeness of proposed solutions Delivery (20%) Professional look and feel Consistent design of report Ease of readability Proper grammar and spelling Use of tables, figures, and pictures Marks out of 10 Marks out of 10

Marks out of 10

Comments

Markers name:

Total Mark:

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HUNTER CENTRE FOR ENTREPRENEURSHIP INDIVIDUAL ESSAY Feedback form and assessment criteria
Class Code and title: Z1216 Entrepreneurship: Opportunities and Ventures Students Name: Reg. Number: Comments

Criteria
Understanding evidence of
understanding and knowledge of the subject, including insight and originality Critical ability ability to summarise, critique and apply relevant theory, and ability to logically develop an argument Insight and Originality of content and ideas

Marks out of 10

Interpretation / Knowledge / Skills (20%)

Structure / Presentation (20%)

Quality of presentation: layout,
spelling, use of English, paragraphing and use of signposting

Presents information and facts in an organised manner Thoroughness and accuracy of citations / Harvard referencing

Content (60%) Introduction:

(Explains the aims of the question; Gives background and defines areas to be discussed; Clearly identifies the issues and theory to be used and discussed; Outlines the structure of the essay; Includes a discussion of the methods used to approach the assignment)

Discussion:
(Defines key areas, concepts and theories for the question and integrates them in the discussion; Uses relevant company and/or industry examples together with data from the video case studies)

Conclusion and Recommendations:

(Draws together, integrates and synthesises the main points of the discussion; Clearly lists appropriate decision/ recommendations Explains rationale for decisions and links this to the analysis/discussion)

Research:
(Appropriate number and variety of quality sources has been consulted)

Markers name:

Total Mark:

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HUNTER CENTRE FOR ENTREPRENEURSHIP VALUE CHALLENGE PRESENTATION Feedback form and assessment criteria
Class Code and title: Z1216 Entrepreneurship: Opportunities and Ventures Students names: Group Number: Structure (25%)

Marks out of 10

Comments

Introduction & overview Logical flow & transitions Review & conclusion Focus on key points Timing (on-time, not rushing) Content (40%) Consistency of report and presentation Use of text Use of tables, figures, and pictures Consistent design of slides Creative use of props and multimedia Delivery (25%) Professional appearance Voice (level, intonation, clarity) Body language & eye contact Enthusiasm of presenters Quality of teamwork Rapport with audience Handling of Questions (10%) Ability to answer the question asked Focused and concise answers Marks out of 10 Marks out of 10 Marks out of 10

Markers name:

Total Mark:

24

HUNTER CENTRE FOR ENTREPRENEURSHIP VALUE CHALLENGE GROUP REPORT Feedback form and assessment criteria
Class Code and title: Z1216 Entrepreneurship: Opportunities and Ventures Students names: Group Number: Structure (20%) Executive summary -Structure -Content -Writing style Structured and logical flow Balance & focus on key points In-text references and bibliography Appropriate use of appendices Content (60%) Description of activity is stated clearly: How innovative? How
challenging? How well was it executed?

Marks out of 10

Comments

Marks out of 10

Reasons for choice of this activity are stated clearly The roles of each member of the team stated clearly Resources used to deliver the activity (financial and non-financial) are stated clearly and justified A step-by-step account of what you did to deliver the activity is stated clearly and justified Key decisions in developing this venture are clearly stated and justified A clear description of the customer(s) is provided Value created: Financial information and social value provided Quality of learning reflections
(insightful, in depth reflections)

Linkages between learning reflections and personal development Delivery (20%) Professional look and feel Consistent design of report Ease of readability Proper grammar and spelling

Marks out of 10

Markers name:

Total Mark: 25

Notes:

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