MGT 8040
Entrepreneurship, Innovation and
Creativity
Faculty of Business, Education, Law and Arts
Introductory/Study Book Semester 2 2016
Published by
University of Southern Queensland
Toowoomba Queensland 4350
Australia
http://www.usq.edu.au
© University of Southern Queensland, 2016.2.
Copyrighted materials reproduced herein are used under the provisions of the Copyright Act 1968 as amended, or as a result of application to the copyright owner.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without prior permission.
Table of Contents
Course introduction ..................................................................................................... 1
Welcome ............................................................................................................................................ 1
Course personnel ......................................................................................................... 2
Course leader – Associate Professor Retha Wiesner ........................................................................ 3
Course moderator - Professor Ronel Erwee ...................................................................................... 4
Course overview ........................................................................................................... 4
Course resources ......................................................................................................... 6
Study material .................................................................................................................................... 6
Useful links ........................................................................................................................................ 6
Online databases ............................................................................................................................... 7
Faculty of Business and Law guidelines .................................................................... 7
Course outline .............................................................................................................. 8
Study schedule ........................................................................................................... 10
Course assessment .................................................................................................... 14
Assessment scheme ........................................................................................................................ 14 Assignment assistance for business students ................................................................................. 15
Assignment guidelines ..................................................................................................................... 16
How do I submit my assignments? .................................................................................................. 17
Assignment 1 ................................................................................................................................... 18
Task ...................................................................................................................................................... 18
Marking guidelines and criteria for Assignment 1 ................................................................................. 19
Assignment 2 ................................................................................................................................... 23 Task ...................................................................................................................................................... 23
Marking guidelines and criteria for Assignment 2 ................................................................................. 25
Module 1 - The nature and challenge of entrepreneurial work ............................... 30
Overview .......................................................................................................................................... 30
Course objectives ............................................................................................................................ 31 Module objectives ............................................................................................................................ 31
Learning resources .......................................................................................................................... 32
Text ....................................................................................................................................................... 32
Selected readings ................................................................................................................................. 32
1.1 Perspectives on the nature of entrepreneurship ....................................................................... 32
Learning activity 1.1 .............................................................................................................................. 33
Reading activity 1.1............................................................................................................................... 35
1.2 The creativity-innovation-entrepreneurship nexus .................................................................... 35
1.3 Corporate entrepreneurship ...................................................................................................... 38
Reading activity 1.2............................................................................................................................... 38
1.4 The individual and entrepreneurship ......................................................................................... 38 Reading activity 1.3............................................................................................................................... 39
Reading activity 1.4............................................................................................................................... 39
Reading activity 1.5............................................................................................................................... 39
1.5 Entrepreneurship, innovation and economic growth ................................................................. 39
Reading activity 1.6............................................................................................................................... 41 Conclusion ....................................................................................................................................... 41
Reference list ................................................................................................................................... 43
Module 2 - Creativity................................................................................................... 44
Overview .......................................................................................................................................... 44
Course objectives ............................................................................................................................ 45 Module objectives ............................................................................................................................ 45
Learning resources .......................................................................................................................... 46
Text ....................................................................................................................................................... 46
Selected readings ................................................................................................................................. 46
Selected web links ................................................................................................................................ 46
2.1 What creativity is and why it is important .................................................................................. 46 Learning activity 2.1 .............................................................................................................................. 47
Learning activity 2.2 .............................................................................................................................. 48
Reading activity 2.1............................................................................................................................... 49
Reading activity 2.2............................................................................................................................... 49
Learning activity 2.3 .............................................................................................................................. 50
Reading activity 2.3............................................................................................................................... 51
2.2 Enhancing creativity .................................................................................................................. 51
2.2.1 Developing creativity: individual level perspectives .................................................................... 52
Learning activity 2.4 .............................................................................................................................. 53
Reading activity 2.4............................................................................................................................... 53
2.2.2 Building enterprises/organisations to enhance creativity and boost the generation of useful
ideas ..................................................................................................................................................... 53 Reading activity 2.5............................................................................................................................... 54
Learning activity 2.5 .............................................................................................................................. 54 2.3 The business idea ..................................................................................................................... 54 Conclusion ....................................................................................................................................... 57
Reference list ................................................................................................................................... 58
Module 3 - Innovation ................................................................................................. 60
Course objectives ............................................................................................................................ 60 Module objectives ............................................................................................................................ 60
Learning resources .......................................................................................................................... 60
Text ....................................................................................................................................................... 60
Websites ............................................................................................................................................... 60
Introduction ...................................................................................................................................... 60
3.1 Innovation: a closer look at the ‘what’ and the ‘why’ ................................................................. 61
Reading activity 3.1............................................................................................................................... 62
Reading activity 3.2............................................................................................................................... 62
Learning activity 3.1 .............................................................................................................................. 66
3.2 The innovation process ............................................................................................................. 70
3.3 Managing innovation in organisations ....................................................................................... 73
Reading activity 3.3............................................................................................................................... 73
Learning activity 3.2 .............................................................................................................................. 74
Self-assessment tool: innovation/creativity ...................................................................................... 74
Scoring .................................................................................................................................................. 76
Interpreting your score .......................................................................................................................... 76 Conclusion ....................................................................................................................................... 76
Reference list ................................................................................................................................... 77
Module 4 - Starting and managing entrepreneurial ventures .................................. 78
Course objectives ............................................................................................................................ 78 Module objectives ............................................................................................................................ 78
Learning resources .......................................................................................................................... 79
Recommended text ............................................................................................................................... 79
Websites ............................................................................................................................................... 79
Selected readings ................................................................................................................................. 80
Introduction ...................................................................................................................................... 80
4.1 Assessing opportunities and understanding your market ......................................................... 81
Reading activity 4.1............................................................................................................................... 82
Learning activity 4.1 .............................................................................................................................. 82
Reading activity 4.2............................................................................................................................... 82
4.2 Creating the value proposition .................................................................................................. 83 Learning activity 4.2 .............................................................................................................................. 87
4.3 Building the business model ..................................................................................................... 87
Reading activity 4.3............................................................................................................................... 88
Learning activity 4.3 .............................................................................................................................. 88
4.4 Choosing a business structure and legal issues ....................................................................... 90
Reading activity 4.4............................................................................................................................... 90
4.5 Crafting a business plan ........................................................................................................... 90 Reading activity 4.5............................................................................................................................... 90 Learning activity 4.4 .............................................................................................................................. 91
4.5.1 The executive summary of your business plan ........................................................................... 91 Reading activity 4.6............................................................................................................................... 92
4.5.2 Market analysis and managing marketing .................................................................................. 92
Reading activity 4.7............................................................................................................................... 92
Reading activity 4.8............................................................................................................................... 93
4.6 Logistics and operations of the business .................................................................................. 93
Reading activity 4.9............................................................................................................................... 94
4.7 The management team ............................................................................................................. 94
Reading activity 4.10............................................................................................................................. 94
4.8 Managing financial matters ....................................................................................................... 95 Reading activity 4.11............................................................................................................................. 95
Learning activity 4.5 .............................................................................................................................. 96
4.9 Conducting a risk analysis ........................................................................................................ 96
Reading activity 4.12............................................................................................................................. 97
Reading activity 4.13............................................................................................................................. 97
4.10 Pitching your business plan .................................................................................................... 97
Reading activity 4.14............................................................................................................................. 98
4.11 Some other key issues and challenges................................................................................... 98
4.12 Sources of finance .................................................................................................................. 98
Reading activity 4.15............................................................................................................................. 99
4.13 Managing growth and transition .............................................................................................. 99 Reading activity 4.16........................................................................................................................... 100
Conclusion ..................................................................................................................................... 100
Reference list ................................................................................................................................. 101

Course introduction
Welcome
Welcome to MGT8040 Entrepreneurship, Innovation and Creativity. You should have read the course specification which provides the following information about the course:
• rationale
• synopsis
• objectives
• topics covered
• texts and references
• assessment details/information
This is a very exciting course, because it deals with very dynamic issues you and I will encounter in our entrepreneurial endeavours. This is one of those courses where you can use your creativity and innovativeness and engage in assessment pieces that are stimulating because the course is about entrepreneurial behaviour, but more specifically your entrepreneurial behaviour. Many of my previous students in this course commented that they loved the practical nature of the second assignment, that for many this course started their entrepreneurial journey and that they thoroughly enjoyed the content and nature of the course.
Today we are facing increasingly competitive and fast-changing environments in which organisations have to operate. Organisations, whether they are big or small, old or new, all have to be able to respond faster to market needs that are changing at a relentless pace. All organisations require flexibility and managers and leaders who are able and eager to promote and enhance the innovative capabilities of these organisations. Innovation is built on creativity, and when commercialised and developed into fully-fledged ventures, we have entrepreneurship in action. Entrepreneurship, innovation and creativity are not only about starting up new ventures. It can be found in existing corporations (large organisations) as well as in public sector institutions. It is especially relevant to smaller (and medium size) organisations as well.
Modern-day managerial leaders have to be creative and innovative – and they need the competence to identify and exploit opportunities in the marketplace and to improve the functioning of organisations. In your career, whatever the occupation or wherever you may find yourself, you will probably find that there will be benefits from developing your understanding, knowledge and skills in respect to creativity, innovation and entrepreneurial endeavour.
The nature of this course requires significant engagement with the materials on your part. Hence, in order to extract maximum value from this course and deliver quality assignments, you will need to give the course priority within your busy schedules. You are encouraged to engage with your fellow course participants, and with your lecturer – or rather, your facilitator of this learning experience.
I am looking forward to your discussions and comments on the discussion board. I am also looking forward to interacting with you throughout the semester and I trust your studies are personally satisfying, enriching and an overall good learning experience.
I hope you enjoy the course!
Important announcements
Before I get to the various aspects of this course, there are a number of important announcements that need to be made from the outset.
? The learning package for this course consists of this introductory/material, selected readings, and discussion forums and other resources available through UConnect on the MGT8040 StudyDesk. You can locate this material on the MGT8040 USQ StudyDesk in the section titled course content.
? You are required to use the online resources and facilities offered for this course on the Study Desk for this course through UConnect. During the course of the semester, I will be engaging with you through the discussion forums regarding various aspects of the course. I will use the intranet mail system inside the course to communicate information to you from time to time during the semester.
? IMPORTANT: It is essential that you access the discussion group on the UConnect forum (on the StudyDesk for MGT8040) on a regular basis. I will post additional comments on the assignments and the modules on the online discussion board. The aim of this interactive teaching media is to clarify specific course related queries, exchange ideas and debate various issues relevant to the course.
? PLEASE NOTE: It is important that you check whether your email address on the USQ system is correct. The course leader will be emailing you at times with important information.
Course personnel
I prefer to view ourselves as course facilitators. I have designed and developed MGT8040 as a post-graduate learning opportunity and our approach is outlined below. As ‘facilitator’ I view my role as being primarily built on the principles of facilitating a learning opportunity that could be valuable to all involved, including me.
Course leader – Professor Retha Wiesner
BCom, BCom (Hons), MCom, PhD. Faculty of Business, Education, Law and Arts, University of Southern Queensland.
Prof. Wiesner’s expertise and research focus upon the human side of organisational performance, or more specifically, how the performance of people and organisations can be improved through high performance management and entrepreneurial activity. She works in the domains of high performance management, organisational behaviour and entrepreneurial behaviour and has a significant track record in designing and disseminating best practice to facilitate high performance, and entrepreneurial individuals and organisations.
She conducts research consulting in a wide spectrum of organisational contexts (1) from working with blue-chip or
ASX companies to help them develop and implement innovative/entrepreneurial people management strategies that improve their triple bottom-line (economic, people and environment); (2) to working with Small and Medium Enterprises to help them become cutting edge through their people and business sustainability strategies; (3) to working with early entrepreneurial firms to grow their enterprises. Prof. Wiesner has an international reputation in conducting capacity-building projects to empower individuals through Entrepreneurship, Innovation and Business Sustainability. Her entrepreneurial research leadership and reputation have been recognised at the national, state and industry level through more than $5M in externally funded research grants, and at USQ through more than $1M in internal USQ research grants. These programs are conducted with a number of national and international partners to facilitate pathways to SME sustainability and developing entrepreneurial behaviour.
Dr Wiesner has published extensively in Australia and overseas. She has co-authored nine books in the management discipline since 2001.
Contact for assistance
Email: retha.wiesner@usq.edu.au
Messages: +61 7 34704519
PLEASE NOTE: When students email Dr Wiesner, they should please state the subject as ‘MGT8040 student’ to ensure a rapid response.
Course moderator - Professor Ronel Erwee
Ronel is Professor and was Director of the USQ Australian
Graduate School of Business, Faculty of Business, University of
Southern Queensland. She is teaching postgraduate courses in International Management and Management Consulting. She is managing the DBA program and supervises PhD and DBA candidates. Her research interests are managing diversity, international human resource management and organisational change. She has consulted on diversity management in Education Victoria, city councils and other institutions and designed and presented management development programs for
Queensland Health, Queensland Police, Lucent Technologies and others. She serves on the Academic Boards of the Australian
Institute of Management and the Australian Council for Applied Psychology, is on the Regional board of AIM. She is a member of the Academy of Management, USA and the Australian and New Zealand Academy of Management. She serves as Senior
Editor of the International Journal of Organisational Behaviour (IJOB) and on the Editorial Board of the Journal of Industrial Psychology (South Africa).
Course overview
Irrespective of where this course fits into your studies, as part of an MBA-degree, a Master of Management, Postgraduate Certificate or Postgraduate Diploma, as part of a specialisation, or otherwise perhaps as part of any other postgraduate studies you are doing – I am quite convinced that the value to be derived from studying this course should serve you well in your work and personal life.
The reason?
Well, because creativity is part of life and also because the modern-day world is driven very much by innovation, change, and the ability of our societal institutions to be highly responsive to the fast-changing and ever expanding range of needs of people. We all have a natural ability to be creative – although the degrees thereof may differ. The challenge is really to unlock the creative potential and to turn it into innovation and entrepreneurial endeavours. And because most organisations require creative people and because innovation is fast becoming one of the key driving forces of organisational success, the interest in innovation and entrepreneurship has been growing in leaps and bounds.
The very fact that you are studying this course implies that you may be interested in creativity, innovation and entrepreneurship. This is a good thing, because the leaders and managers of today and tomorrow will have to deliberately work towards establishing organisational environments that can unleash the creative potential and individual and collective innovative abilities of all members of the organisation. They should also have an in-depth understanding of how to progress innovative ventures – their own or new ventures within their existing organisation. A great challenge is therefore for managers and leaders to be able to create organisational environments conducive to creative work, innovation and entrepreneurial endeavour.
In this course you will be introduced to the challenges accompanying what some term as an ‘emerging entrepreneurial revolution’. You will be exposed to theoretical and practical perspectives of the importance, nature of and challenges related to creativity, innovation and entrepreneurship. Theoretical and practical perspectives pertaining to creative thinking and behaviour and its role in business are also covered and also the challenges related to innovation. You will furthermore be challenged to search for ways to channel creative ideas into innovative outcomes, such as ‘new’, value-adding processes, services and/or products as well as other forms of innovation and entrepreneurship such as ‘intrapreneurship’ (corporate entrepreneurship). You will also find that the way in which this course is presented might be different, and in some sense innovative, to other courses you may have done. In a sense, this course is about you and your entrepreneurial aspirations.
The specific context in which you work and may want to apply what you learn as you go through this course during this semester will in all likelihood vary. For some it may be that you want to start your own business, other’s may already be leading ‘micro’ or ‘small’ enterprises – your own business perhaps. Or it may be that you work in an NGO or in a public sector organisation such as a local authority, or perhaps even in a large profit-seeking MNC (multinational company). It may be that you have experience in work and organisational life in countries like Australia, New Zealand, Mainland China, Malaysia or Singapore – or even somewhere in Europe, the United States of America, Canada or even South America or somewhere in Africa. Irrespective of all these possible variables and/or permutations, the principles covered in the course will be relevant to any situation where you are required to be creative, innovative and engage in entrepreneurial behaviour. The second assignment is a major project that requires you to stretch yourself, acquire and action entrepreneurial skills.
We have a group of people here coming together with a very diverse understanding, appreciation and experience and knowledge of the relevant themes of learning. As learning facilitator it is my duty to create a platform for a meaningful learning experience that will not only be a process of development, but also one of assessing how you go on this journey.
As adult learners you will be engaging actively in this learning experience. Not only through reading the required study materials and doing the assignments as individuals, but through the discussion board and sharing with the group. The more you’ll engage in debate, commentary, communication, sharing of ideas and viewpoints, the better your learning experience will be.
The goal ought to be to learn as much as possible, to gain as much as possible from this learning experience through sharing. If you do this the likelihood of doing well in the course will be much greater. The more you engage actively in the collective learning experience, in addition to the individual-level learning, the better the chances of making a success of this course in general. I encourage you to help each other on the discussion board – all collectively learning through constructive dialogue and meaningful interaction is useful.
Course resources
Study material
The study materials for this course comprise the textbook, relevant study modules and materials posted on the StudyDesk (homepage) for this course.
The set text for this course is:
Schaper, M, Volery, T, Weber, P & Gibson, B 2014, Entrepreneurship and small business, 4th edition, John Wiley & Sons, Milton, Queensland.
PLEASE NOTE: the 4th Asia-Pacific edition - the e-book is available for $55 at http://au.wiley.com/WileyCDA/WileyTitle/productCd-EHEP003015.html
You should have purchased the set text which together with the study book consisting of study modules, form the basis of this course. However, you are also required to access the other resources available on the StudyDesk for MGT8040 for this course as well as relevant online references that are available on the USQ Library electronic databases to support your arguments in the set assignments for this course.
Your USQ StudyDesk
Your USQ StudyDesk in UConnect gives access to a home page for every course in which you are currently enrolled. You will be able to access to the following content from the MGT5000 on the USQ StudyDesk:
Introductory information and the assessment requirements:
Course materials Modules 1 to 4
Electronic discussion board An active discussion board to discuss course related queries and content issues
Assignment submission Students have to use the assignment submission links that can be found on the USQ StudyDesk for this course to submit assignments online.
Useful links
Site name URL
USQ Bookshop http://bookshop.usq.edu.au
USQ Library http://www.usq.edu.au/library
USQ Current Students http://www.usq.edu.au/current-students
Online databases
You will find the electronic databases available through the USQ Library home page (http://www.usq.edu.au/library/) most useful when searching for material related to the courses you are studying. The articles found on these USQ library online databases will help you to support your arguments in the assignments. Try to find relevant refereed articles on the particular assignment topic areas. This will greatly enhance your understanding and analysis of each question. However, firstly you need to understand the main ideas in the textbook and Study Notes.
The electronic databases can be accessed from the USQ Library home page by clicking on the ‘Search a database’ tab under the ‘Library Search’ heading. You will need your username and password to access the databases.
I recommend that you use the full-text databases - USQ library online databases that provide the full-text of journal articles including:
? EBSCOhost: Business Source Premier, Academic Search Premier
? PsycARTICLES, Psychology & Behavioural Sciences Collection
? Informit: APA-FT (Australian)
? Emerald
? Sage Full-Text
? Taylor & Francis Journals
? Wiley
Note: There are differences in the American and Australian spelling of certain words such as ‘organization’ versus ‘organisation’. Make sure you conduct online searches using both forms of spelling in order to find appropriate online literature.
Further information can be found from the library homepage https://library.usq.edu.au/
Also please take note that you will be provided with detailed information on the StudyDesk for MGT8040 about other relevant readings to be accessed – and this will happen via the UConnect platform.
Faculty of Business and Law guidelines
Students should read USQ’s Regulations pertaining to Assessment and Academic Misconduct at http://policy.usq.edu.au/documents.php?id=14132PL Further information on detection and consequences of plagiarism can be found at http://www.usq.edu.au/library/referencing/whatis-plagiarism/detection-and-consequences
Course outline
Leaders and managers of modern-day organisations and business enterprises are required to harness, develop and preserve the capabilities of their organisations to be innovative and entrepreneurial. All over the world the innovation and entrepreneurial capabilities of organisations are becoming an increasingly significant contributing force to economic activity in general and job creation in particular. Entrepreneurship is not only about new ventures or small business organisations. Organisations of all sizes and types are nowadays required to be more responsive and innovative in order to maintain or improve their competitiveness and to generally survive in a world where there are increasing pressures to improve performance and to be able to ‘do more with less’.
The leaders and managers of organisations of the future will have to deliberately work towards establishing organisational environments that can unleash the creative potential and individual and collective innovative abilities of all members of these organisations. In this course you are introduced to some of the key challenges accompanying the ‘entrepreneurial age’ as some refer to it.
The course starts off with an introduction to the field and world of entrepreneurship. The first module is aimed at putting into place the basic building blocks on which you will then be basing the rest of your studies for this course. It kicks off this course by allowing you to think about the role, value and nature of entrepreneurship in general and then also in terms of the challenges posed by the entrepreneurial endeavour. The predominance of small firms and new ventures in the economies of various countries is illustrated and you are exposed to what the concept of entrepreneurship means as well as who entrepreneurs are and what they typically do. You are furthermore sensitised to the contextual variables that are in interplay with entrepreneurship today. In this module you will also be introduced to the creativityinnovation-entrepreneurship nexus.
In the second module you will be examining the nature and importance of creativity to the entrepreneurial leader and organisation. This will include some of the dynamics that underpin creative thinking and behaviour. The connection between creativity, innovation and entrepreneurial endeavour and in particular the creativity-innovation connection is emphasised again. You’ll be learning about personal creativity, how to foster creativity in organisations and also how managerial leadership interplays with the challenges related to fostering innovation through creativity. From an entrepreneurial perspective, it is important to be creative in looking at people and things in terms of how to satisfy needs – at the end of the day there has to be some market need or customer to present an entrepreneurial opportunity. In the second module you’ll also be introduced to how creativity and personality dynamics may be interrelated.
Creativity can play a role in generating ideas that are best suited for the particular innovation purposes that an organisation might have. In module 3 you’ll be introduced to particular tools and practices of how to make innovation happen through purpose-driven creativity in organisations.
Innovation, as you’ll learn throughout this course, is built on creativity, while entrepreneurial endeavour in turn could often be an outflow of innovation. Most innovations, as you’ll learn, are the result of the conscious and purposeful search for new opportunities in the market place, or new ways of doing better in terms of what our aims are. While creativity may be an essential building block for entrepreneurial endeavour, it is not creativity as such that brings about the change that goes along with putting new products and/or services into the market or improving particular processes or practices of organisations. Something more is required and in module 3 you will be afforded the opportunity to further explore the nature and challenges of innovation. You will learn that innovation entails coupling creativity with some risktaking. You will be shown that innovation is about the act of introducing that which has resulted from creativity. It is thus about doing something with the ‘new’ business idea, the opportunity and concomitant risk. In the third module you will be taking a better look at what innovation means and entails (because in Module 2 some of these would have also been covered) and how one can best make use of innovation for business and organisational purposes.
The fourth and last module works from the assumption that very often it is desirable and necessary to take an invention, make it commercially viable and to take it into the market through launching a proper entrepreneurial venture, and to then grow and develop it. This mostly requires going beyond the creative and innovative side of getting to and making new business ideas workable. It calls for identifying appropriate opportunities, doing market research and carrying out feasibility studies and doing business planning. In addition, it requires managerial and entrepreneurial leadership. In the fourth module you will be exposed to a number of such leadership challenges, including the planning and organising of such ventures. This module concludes with some managerial issues as well as issues relevant to growing entrepreneurial ventures.
Study schedule
Week Module Suggested Activity/Reading Assessment and Notes
1
11 - 15 Jul Module 1 & 2 • Introduce yourself on the discussion board for MGT8040
• Read Module 1 - The nature and challenge of entrepreneurial work
• Complete the reading and learning activities in Module 1 (As you read start thinking about an idea for a venture for Assignment 2) • Familiarise yourself with both the written assignments
• Prepare for the Quiz
Note: Last day for adding
Semester 2 courses
15 July 2016
2
18 - 22 Jul Module 2 • Read Module 2 - Creativity
• Complete the reading and learning activities in Module 2.
(As you read think about an idea for a venture for Assignment 2)
• Start research on Assignment 1
Note: Fee payment due date 22 July 2016
Quiz open: 11 July 2016
3
25 - 29 Jul Module 3 • Read Module 3 - Innovation
• Complete the reading and learning activities in Module 3
(As you read think about an idea for a venture for Assignment 2)
• Conduct research for Assignment 1
• Clarify your arguments for Assignment 1, draw up an assignment map (an example will be provided on the discussion board) and start writing
Assignment 1
Quiz due: 31 Jul 2016
4
1 - 5 Aug Module 3 • Conduct research for Assignment 1
• Write and submit Assignment 1
• Continue to refine your idea for a venture relevant to Assignment 2 Write Assignment 1
Assignment 1 Due:
07 Aug 2016 (NB: Electronic submission
only)
Note: Census date - Last day for dropping Semester 2 courses without incurring fees: 5 August 2016
(Please contact the course leader if you consider
dropping this course)
Reminder: End of week 4 is the last date to drop S2 courses without academic or financial penalty
Week Module Suggested Activity/Reading Assessment and Notes
5
8 - 12 Aug Module 4 • Familiarise yourself with the requirements for Assignment 2
• Read the Introduction of Module 4; Section 4.1 Assessing opportunities and understanding your market; and Section 4.2 Creating the value proposition
• Complete the reading and learning activities for Module 4.1 – 4.3
• Interact and ask for feedback from the group on this discussion forum
• (These sections will feed into Assignment 2) Last day for adding
Semester 2 courses: 15
July 2016
6
15 - 19 Aug Module 4 • Read Section 4.3 in Module 4 - Building the business model
• Complete the reading and learning activities for Module 4.3
• (This section will feed into Assignment 2)
7
22 - 26 Aug Module 4 • Read Module 4, Section 4.4 - Choosing a business structure and legal issues; The first section of 4.5 – Crafting a business plan (to familiarise yourself with the format of a business plan); and Section 4.5.1 - The executive summary of your business plan
• Complete the reading and learning activities for these sections in Module 4
• Decide on how you are going to approach Assignment 2
8
29 Aug - 2 Sep Module 4 • Read Module 4, Section 4.5.2 - Market analysis and managing marketing
• Complete the reading and learning activities for this section in Module 4
• Interact and ask for feedback on the discussion board
• Start writing your business plan Note: Last day to drop a Semester 2 course without
a failing grade – 2 September 2016
Reminder: End of week 8 is the last date to drop S2 courses without academic penalty
Week Module Suggested Activity/Reading Assessment and Notes
9
5 - 9 Sep Module 4 • Read Module 4 Section 4.6 - Logistics and operations of the business; and Module 4, Section
4.7 - The management team
• Complete the reading and learning activities for these sections in Module 4
• Interact and ask for feedback on the discussion board
• Progress your business plan. The second written assignment should now be a high priority and energy and efforts should be devoted to it.
10
12 - 16 Sep Module 4 • Read Module 4, Section 4.8 – Managing financial matters
• Complete the reading and learning activities for this section in Module 4
• Interact and ask for feedback on the discussion board
• Progress your business plan
11
19 - 23 Sep RESESS
12
26 - 30 Sep RECESS
13 3 - 7 Oct Module 4 • Continue working through Module
4.8 - Managing financial matters
• Complete the reading and learning activities for this section in Module 4
• Interact and ask for feedback on the discussion board.
• Progress your business plan
Week Module Suggested Activity/Reading Assessment and Notes
14 and 15
10 – 21 Oct Module 4 • Read Module 4.9 - Conducting a risk analysis
• Complete the reading and learning activities for this section in Module 4
• Interact and ask for feedback on the discussion board.
• Finalise your business plan
(Assignment 1) and submit
• Although you are not assessed on the next 3 sections in Module 4 (4.10 -4.13), read 4.10 Pitching your business plan & 4.12 - Sources of finance & 4.13 -
Managing growth and transition
• This is where you can really get momentum! Even though not required, share a pitch on the discussion board if you wish (in preparation for taking your venture plan further). Assignment 2 Due:
21 Oct 2016
NB: Electronic submission only
Note: Fill out the course evaluation form on the StudyDesk for MGT8040 please
24 - 28 Oct
31 Oct - 4 Nov EXAMINATION PERIOD
Marking of Assignment 2 will take place during this period.
Course assessment
Assessment scheme
Description Marks out of Wtg (%) Due date Notes
Quiz 5 5 31 Jul 2016 1
Assignment 1 100 35.00% 07 Aug 2016 2
Assignment 2 100 60% 21 Oct 2016 2
Note
1. The quiz is an electronic quiz that you will need to complete via the MGT8040 StudyDesk. The quiz will be available via the MGT8040 StudyDesk from Monday, 11 July 2016 and will close at 11.59pm on Sunday 31 July 2016.
The questions in this test are based upon:
a) Reading Activity 1.3 and specifically Selected Reading 1.1 in Module 1: ‘Kobia, M & Sikalieh, D 2010, ‘Towards a search for the meaning of entrepreneurship’, Journal of European Industrial Training, vol. 34, no. 2, pages 113–19; and
b) Three podcasts that are part of an entrepreneurship podcast called “Entrepreneur on fire” where the host John Lee Dumas interviews successful entrepreneurs. The three relevant podcasts can be found at:
• Podcast 626: Jon Morrow on building a successful blog http://www.entrepreneuronfire.com/podcast/jonmorrow/
• Podcast 747: Sam Horn on how to craft concise, compelling communications that connect http://www.entrepreneuronfire.com/?s=sam+horn
• Podcast 2: Pat Flynn of Smart Passive Income
http://www.entrepreneuronfire.com/podcast/pat-flynn-interview-of-smartpassive-income-with-john-lee-dumas-of-entrepreneur-on-fire/
To prepare for the quiz, do Reading Activity 1.3 and specifically Selected Reading 1.1 in Module 1, and then listen to the three podcasts before you answer the questions.
This assignment is to complete a series of multiple choice questions which test your understanding regarding the topic area ‘The individual and entrepreneurship’ in Module 1.
Students are given a number of days to complete the quiz.
No extension will be granted for the quiz. Any student who fails to complete the quiz set by the due date will forfeit the marks for the quiz. On completion of the quiz, students will be given immediate feedback on their number of correct answers.
The quiz will close at 11.59pm on 11.59pm on Sunday 31 July 2016. It is expected that all students will plan appropriately to ensure they attempt the quiz prior to the expiry date.
2. Submission of Assignments 1 and 2
The two assignments for this course need to be submitted electronically. The links to submit your assessments are available on the StudyDesk for MGT8040. Your assignment will be submitted through Turn-it-in for plagiarism checking by the lecturer, therefore please ensure you do not plagiarise when preparing your assignments.
Students need to keep an electronic version of their assignments and if required by the course examiner, submit a further electronic copy if needed.
File naming is not important when using the submission system as it will automatically allocate a specific file name to each submitted assignment.
Assignment assistance for business students
http://www.usq.edu.au/library/new-search
The information in this section is designed to bring together some tools to assist you in successfully completing your assignments and may be particularly useful to students who are returning to study. Always remember however, to read your assignment instructions very carefully as your lecturers may require specific formats or layouts. The page details and links are shown below for your convenience.
Academic Skills
The Learning Centre at USQ offers students online and face-to-face access to academic support, advice and guidance. Whether you need to speak with someone about assignments, study skills, mathematics or writing, our team is here to help you:
http://www.usq.edu.au/learningcentre
Writing an Essay
A good source on essay writing from the University of Otago is: ‘Essay Writing with
Readings – how to analyse your topic, find resources, plan and write your essay’ See http://oil.otago.ac.nz/oil/module1/Understand-the-topic/Your-topic.html
How do I search the Databases?
See the USQ Librarys Database Guides http://www.usq.edu.au/library/getting-started
I Need help Finding information
The USQ Library Finding Information Tutorial will provide you with the skills and tools to find and manage information effectively. It is arranged in modules, so you can progress at your own pace and use the demonstration and interactive exercises.
http://www.usq.edu.au/library/getting-help/help-for-students
How do I avoid plagiarism?
Plagiarism is taken very seriously at universities so make sure you are aware of what constitutes plagiarism. See plagiarism guidelines at USQ: http://www.usq.edu.au/currentstudents/assessment/assignments/referencing-plagiarism
The Harvard Referencing guide
This covers referencing both print and electronic sources: http://www.usq.edu.au/library/referencing/harvard-agps-referencing-guide
Assignment guidelines
The two written assignments are set to test your knowledge, competence and ability to apply the key concepts and material presented in this course. There is no examination. The assessments are aligned with the objectives of the course detailed in your course specifications and available on the course StudyDesk.
While the assessments are designed to test whether you have satisfactorily achieved these objectives, we are also conscious of the fact that the assessment is central to your learning experiences throughout the duration of this course as the semester unfolds. Hence, we have designed the assessment requirements to meet the objectives of this course and to ensure that your experiences throughout the semester are as constructive as possible.
In order to test your learning and development at mastering the course material and hence the extent to which you are progressing towards achieving the course objectives, two comprehensive assignments have been set. The first assignment is worth 35% and the second assignment 60% of the total marks for this course. Assignment 1 is theoretical in nature, although you are also encouraged to use examples to illustrate your arguments. This assignment requires you to read widely, both refereed academic articles (that you can find on the USQ library databases) and articles in more general practical entrepreneurship publications). You are required to have a significant list of references to show you have conducted thorough research on the assignment topic. Assignment 2 is very practical in nature and although you will be required to read extensively in order to execute the assignment task, references will mainly be required when relevant terms in the business plan are defined.
Both assignments are based on a range of tasks that attempt to relate the material in both theoretical and practical terms.
Don’t be put off by the terms ‘critically discuss’ or ‘develop a sound argument’. In simple terms, they involve the process of analysis. You might think that an essay is automatically about critical discussion. Unfortunately, over the years, many students don’t quite understand what an analytical approach to assignment questions mean. Instead, they present an answer to an assignment question in very descriptive terms – that is, they just define terms and describe or repeat what the text and associated materials present. Every essay has an amount of description but the analytical aspect of essays is when you identify the issues in the material, the arguments and results that are apparent in the material and the differences of opinion expressed by various authors on the topic under discussion. You answer the question by presenting and analysing the ‘facts’ contained in the relevant material, and presenting an answer as a supported and logically presented argument – a critique. Your support comes from the authoritative references you present. I will say more about the issue of critical discussion on the discussion board.
Don’t close the textbook and think ‘I will think about it’. You need to DO something after reading every module, chapter and article. What do you need to do now?
Go to your computer or your notebook. Start the assignment now. Map it out in the form of a structure. Then put into this structure that you create for this assignment, your notes from the material you have just read. Make notations on what is missing and what you need to do as soon as possible. Of course, the structure will follow closely the questions you have to answer.
Make sure you refer to the marking criteria sheet used for each assignment.
As far as the material is concerned, go back over the material on definitions and make notes. Identify what you see are the issues between the definition and the reality of describing the workplace pictured in the assignment.
With each module, we refer you to various materials. We supply the basics to support you in understanding the topics prescribed. You are also expected to seek out additional material and use it where appropriate.
The word limit is always an issue. It acts as a guide to the quantity required. First impressions are that the requirements are significant. However, what generally happens is once students start to get their teeth into the essay, the word count becomes a limiting factor. Please do not go over the limit.
Students can get bogged down in the reading to a point where they believe they are reading too much and have lost the plot. There is a general amount of reading at the outset that is suggested in the study notes. This is to understand and absorb the thrust of each topic. These initial stages of reading promote general learning. You get to understand the concepts. You start to see how it does and can apply to your work specifically and to the organisation in general. Once you have achieved this general understanding, you then start to look at how you are going to approach the assignment questions. These questions are set to test your understanding of the key topic areas. Reading from this point is quite specific. You are looking for material to support your assignment and make your case.
Please check the electronic discussion board on a regular basis for answers to frequently asked questions on the assignments. ENJOY!
How do I submit my assignments?
For this course, you are required to submit your assignments electronically using the submission link available on the StudyDesk for MGT8040.
PLEASE ENSURE ONLY MICROSOFT WORD FILE FORMAT IS USED
Assignment 1
Description Length Marks out Wtg(%) Due date
of
Essay 1800 words (+/- 10%) 100 35% 7 August 2016
(excluding list of references, figures and tables)
Task
Critically discuss the following statement:
‘Innovation and creativity are critical in overcoming the challenges of entrepreneurial work’.
Some suggestions to strengthen the quality of your assignment
Define entrepreneurship, innovation and creativity terminology used within the context of the assignment.
Reflect on the theoretical linkages between these concepts.
Critically discuss a maximum of three ways in which innovation and creativity are critical in overcoming the challenges of entrepreneurial work’. The various aspects of entrepreneurial work are evident in the components of a business model and business plan. Draw on some of these aspects to reflect upon where creativity and innovation are particularly evident and how. For example, creativity is particularly evident in opportunity identification, whereas innovation (of the service/product) can be significantly enhanced by using a process of cocreation in developing the value proposition for a service/product and in developing the marketing strategy for the product/service.
Support your arguments throughout the assignment with examples and evidence from the literature.
Read widely and use at least 20 references of which 10 are refereed journal articles that can be found on the USQ databases.
Note
Only Microsoft word format is to be submitted. Only electronic submissions via the submission link on the StudyDesk for MGT8040 are acceptable - NO HARD COPIES.
The essay should be referenced in accordance with the Harvard referencing style. Please note that there are multiple variations of the Harvard referencing style and participants MUST use the variation as presented in the USQ Library pages on referencing available at:
http://www.usq.edu.au/library/referencing/harvard-agps-referencing-guide
Marking guidelines and criteria for Assignment 1
This course is built around the principles of adult learning. You are studying a course that is aimed at equipping you with a better ability to face ‘real-world’ challenges of business and organisational life. In that world there are no such luxuries as having strict guidelines and criteria for exactly how to approach entrepreneurial challenges. The entrepreneurial world can be very complex, uncertain, ‘messy’ and some even refer to it as ‘chaos’.
However to ensure you deliver high quality work, please ensure you tend to the marking criteria for Assignment 1 against which you will be assessed.

Assignment 1 – Marking criteria
CATEGORY 1 – INTRODUCTION
Introduction 2 1 0
Clear statement of purpose 2 1 0
Statement of what the assignment hopes to demonstrate 2 1 0
Summary of major issues to be critically analysed 2 1 0
Plan for the assignment 2 1 0
Total for category /10
CATEGORY 2 – TECHNICAL
Clear structure with arguments developed in a clear, logical and rational way 10 9 8 7 6 5 4 3 2 1 0
Language and expression clear 10 9 8 7 6 5 4 3 2 1 0
Assignment properly referenced according the Harvard Reference system 5 4 3 2 1 0
Total for category /25
CATEGORY 3 – CONTENT
Research (Display broad and in-depth research of the topic/original material is the result of in-depth investigation) 20 18 16 14 12 10 8 6 4 2 0
Knowledge, interpretation and application of the literature and practical examples. Demonstrate knowledge and understanding of the question 20 18 16 14 12 10 8 6 4 2 0
Critical analysis and assessment of sources 20 18 16 14 12 10 8 6 4 2 0
Total for category /60
CATEGORY 4 – CONCLUSION
Clear conclusion 5 4 3 2 1 0
Total for category /5
TOTAL FOR ASSIGNMENT /100
Weighting 35% of the total marks in the course
Category 1 – Introduction: Total mark 10
The assignment should contain a clear, identifiable introduction. The introduction should inform the reader about why the assignment is being written. It should detail a statement of what the assignment hopes to show and provide a summary of the major issues to be dealt with. Finally, there should be a plan for the assignment. After reading the introduction, a reader should know why the assignment is being written, what it aims to show, and how the writer intends to proceed.
Category 2 – Technical: Total mark 25
The technical aspects of writing the assignment is very important. Furthermore, a good overall structure is an important part of good writing, particularly its coherency and consistency. Each main argument should have a main stance/proposition which then needs to be developed. The assignment’s structure must be logical, with arguments and paragraphs flowing logically into one another. Students should make sure that linking words, phrases or sentences are used between paragraphs and that the purpose of each paragraph is related to what the assignment hopes to show. To achieve good marks in this category, it is necessary that students allocate sufficient time to complete a number of revisions of their first draft. Often, a disorganised structure and imprecise writing can obscure the reasonable content of some assignments. Students should note that marks are allocated for the way references are used throughout the assignment, in addition to the technical correctness of referencing. After reading an assignment, the reader should be persuaded that the assignment is coherent, holistic, logical and clearly written.
It is important to always try and present your assignment professiona