Master of Business Administration

SUBJECT OVERVIEW

ENTREPRENEURSHIP

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713ENT Entrepreneurship Subject Overview

SUBJECT OVERVIEW

Background information ................................................................................ 2

Learning materials .................................................................................................................. 2
Study skills materials .............................................................................................................. 2
Contact information ............................................................................................................... 2

Subject details................................................................................................ 3
Pre requisites and presumed knowledge............................................................................... 3
Synopsis .................................................................................................................................. 3
Subject rationale .................................................................................................................... 3
Learning outcomes ................................................................................................................. 3
Graduate qualities .................................................................................................................. 4

Content .......................................................................................................... 5

Resources....................................................................................................... 6
Prescribed textbook ............................................................................................................... 6
Required readings .................................................................................................................. 6
Optional resources ................................................................................................................. 8

Assessment ...................................................................................................10
Assignment ........................................................................................................................... 10
Exam ..................................................................................................................................... 12
Academic integrity: avoiding plagiarism, collusion and other issues .................................. 13

Planning your subject study ..........................................................................13

Appendix 1 Assessment Grading Criteria .......................................................15

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Background information

Learning materials

The learning materials and activities for this subject include:

topic learning guides

textbook information
list of required readings
list of optional resources
assessment information
sample exam questions with answer guidelines
quiz questions for immediate feedback.

All of your materials and activities are provided online via the learning portal and are
designed to lead you through the learning process for this subject.

The topic learning guides are based on chapters in the textbook, and help guide you to the
learning in the textbook (but should be read in conjunction with the textbook). The topics
include learning activities that you are encouraged to complete as a way of deepening your
understanding of relevant theories and concepts, and then applying principles to your
practice and real life situations. You can also consider the discussion questions at the end of
the appropriate textbook chapters.

Journal articles that relate to topic content are provided as required readings, with optional
resources provided for additional research and learning. An online quiz (accessed through
the learning portal) and sample exam questions with answer guidelines are provided to help
you test your understanding of the subject. In addition, detailed assessment information is
provided.

Study skills materials

The study skill resources available for this subject include:

study skills resources in the learning portal that provide guidelines, activities and
videos on study skills, time management, preparing for your assignments including
referencing and plagiarism, writing skills, and exam skills

the Assignment Guide, Exam Guide and Style Guide

support from the Academic team.

Contact information

Please follow the Contact Support link on your learning portal for relevant support and
assistance.

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If you have enrolled to attend workshops, dates, times and locations are listed in your
personal timetable.

Subject details

Subject Code: 713ENT

Subject Credit Points: 10

AQF Level: 9

Associated higher education awards:

- Master of Business Administration

Pre requisites and presumed knowledge

MBA core subjects (in particular AQF level 8 subjects) provide the foundation for
specialisation and elective subjects (AQF Level 9 subjects). Hence, relevant core subjects
should normally be attempted before progressing to specialisation and elective subjects.

Synopsis

This course provides advanced understanding of the entrepreneurial mind-set.

Entrepreneurs are pioneers, innovators, leaders and inventors. They are catalysts for change
who shape the competitive global marketplace and have significant impact on our global
economy. Topics covered include: the practice of entrepreneurship, how to foster an
innovative work environment in addition to being able to formulate, develop, grow, manage
and commercialise ideas through business creation.

Subject rationale

Entrepreneurship is a key driver of our global economy and is seen as a vital element for
private sector growth and diversity. The study of entrepreneurship allows students to
develop the skills needed to create and implement new ideas and creative solutions. By
fostering a robust entrepreneurial culture managers will be empowered to contribute
towards wealth creation and economic development.

Learning outcomes

This table lists the learning outcomes for the subject and shows how they are linked with the
assessment.

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713ENT Entrepreneurship Subject Overview

AQFs Subject On completion of this subject participants should be Assessed in Assessed in

LO categories able to: written exam
assignment
Knowledge 1 Demonstrate understanding of the main x x
LOs concepts and frameworks relevant to
entrepreneurship (including intrapreneurship).
2 Distinguish between creativity and innovation, x x
and explain how to develop each in an
organisation and in oneself.
3 Explain the role and importance of strategic x x
planning in entrepreneurial firms.
4 Describe the appropriate way to acquire and x x
value an existing entrepreneurial business.
Skills LOs 5 Identify and explain the challenges associated x
with each phase in the life cycle of an
entrepreneurial business.
6 Appraise how a government can foster x
entrepreneurship.
7 Analyse the succession issues relating to a x
family business.
Application 8 Apply knowledge and skills to an actual x x
LOs entrepreneurial organisation or organisational
unit.

Graduate qualities

This table lists the way in which this subject contributes towards your development of AIB
graduate qualities.

Covered in Practised
AQF Generic AIB Graduate Qualities (on completion Formally
subjects or applied
LO of this subject students should be able assessed in
learning in this
categories to-) this subject
resources subject
Communicate effectively, especially in
Fundamental writing x x
Skills
Work independently x x
People skills Work collaboratively
Use systematic enquiry methods x x x
Thinking
skills Demonstrate problem solving and
x x
decision making abilities
Engage in lifelong learning x n/a
Personal
Work as a reflective practitioner
skills
Act in an ethical manner

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Content

1. The challenge of entrepreneurship

What is an entrepreneur and an intrapreneur?
The benefits of owning a small business
The drawbacks of owning a small business
The cultural diversity of small businesses
How to avoid pitfalls
Creativity, innovation and entrepreneurship
The creative process
A ventures life cycle

2. Building the business plan: beginning considerations

Building a competitive advantage
The strategic management process
Conducting a feasibility analysis
Elements of a business plan
What lenders and investors look for in a business plan

3. Forms of business ownership

The sole proprietorship
The partnership
The corporation

4. Franchising and the entrepreneur

What is a franchise?
The benefits of buying a franchise
The drawbacks of buying a franchise
The right way to buy a franchise

5. Buying an existing business

Buying an existing business
The steps in acquiring a business
Evaluating an existing business: the due diligence process
Methods for determining the value of a business

6. Building the business plan: marketing considerations

Building a bootstrap marketing plan
Benefits of selling on the web
Strategies for e-success
Three potent pricing forces: image, competition and value
Pricing strategies and tactics

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7. Building the business plan: financial considerations

Creating a successful financial plan
Managing cash flow
Sources of financing

8. Choosing the right location and layout

Location: a source of competitive advantage
Location criteria for retail and service businesses
Location decisions for retail businesses and manufacturing
Layout and design considerations

9. Global aspects of entrepreneurship

Why go global?
Going global: strategies for small businesses
Barriers to international trade
International trade agreements

10. Building a new venture team and planning for the next generation
The entrepreneurs role as a leader
Hiring the right employees
Creating an organisational culture
Public policy levers

Resources

Prescribed textbook

Scarborough, NM & Cornwall, JR 2016, Essentials of entrepreneurship and small business

management, 8th edn, Pearson Education Limited, Harlow (ISBN:9781292094861).

The 7th edition is also suitable (ISBN: 9780273787129).

Required readings

Topic 1

Aldrich, HE & Yang, T 2014, 'How do entrepreneurs know what to do? Learning and
organizing in new ventures', Journal of Evolutionary Economics, vol. 24, no. 1, pp. 5982.

Topic 2

Denning, PJ & Dew, N 2012, 'The myth of the elevator pitch', Communications of the ACM,
vol. 55, no. 6, pp. 3840.

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Hayton, JC & Kelley, DJ 2006, 'A competency-based framework for promoting corporate
entrepreneurship', Human Resource Management, vol. 45, no. 3, pp. 407427.

Topic 3

Prescott, GL, Madden, EK & Foster, RM 2010, 'Forms of business ownership: a primer for
commercial lenders', Commercial Lending Review, vol. 25, no. 6, pp. 2755.

Topic 4

Ketchen Jr, DJ, Short, JC & Combs, JG 2011, 'Is franchising entrepreneurship? Yes, no, and
maybe so', Entrepreneurship: Theory and Practice, vol. 35, no. 3, pp. 583593.

Topic 5

De Cleyn, S & Braet, J 2007, 'The due diligence processguiding principles for early stage
innovative products and venture capital investments', The Journal of Private Equity, vol. 10,
no. 3, pp. 4351.

Topic 6

Taneja, S & Toombs, L 2014, Putting a face on small businesses: visibility, viability, and
sustainability the impact of social media on small business marketing', Academy of
Marketing Studies Journal, vol. 18, no. 1, pp. 249260.

Topic 7

Piatti, D 2014, Operating cash flow and creditworthiness assessment, Academy of

Accounting and Financial Studies Journal, vol. 18, no. 2, pp. 120.

Topic 8

Pope, JA, Lane, WR & Stein, J 2012, 'A multiple-attribute decision model for retail store
location', Southern Business Review, vol. 37, no. 2, pp. 1525.

Rajkumar, P 2013, A study of the factors influencing the location selection decisions of
information technology firms, Asian Academy of Management Journal, vol. 18, no. 1, pp.
3554.

Topic 9

Brouthers, LE, Nakos, G, Hadjimarcou, J & Brouthers, KD 2009, 'Key factors for successful
export performance for small firms', Journal of International Marketing, vol. 1, no. 3, pp. 21
38.

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Nini, Y 2012, Small businesses and international entrepreneurship in the economic hard
time: a global strategic perspective, International Journal of Entrepreneurship, vol. 16, pp.
113131.

Reading for topics:

Appendix 1 pages 480482 of Kuratko, DF 2014, Entrepreneurship: theory, process,

practice, 9th edn, South-Western, Cengage Learning, Ohio. (For Topic 1.)

Appendix 2 Martiarena, A 2013, ' Whats so entrepreneurial about intrapreneurs?, Small

Business Economics, vol. 40, pp. 2739. (For Topic 1.)

Appendix 3 pages 256275 of Scarborough, NM 2014, Essentials of entrepreneurship and

small business management, 7th edn, Pearson Education Limited, Harlow. (For Topic 5.)

Appendix 4 Dennis, WJ 2011a, 'Entrepreneurship, small business and public policy

levers, Journal of Small Business Management, vol. 49, no. 1, pp. 92106. (For Topic 10.)

Appendix 5 Dennis, WJ 2011b, 'Entrepreneurship, small business and public policy

levers, Journal of Small Business Management, vol. 49, no. 2, pp. 149162. (For Topic 10.)

Optional resources

Calvin, RJ 2005, Entrepreneurial management: the McGraw Hill executive MBA series,
McGraw-Hill, Boston.

Hisrich, RD, Peters, MP & Shepherd, DA 2013, Entrepreneurship, 9th edn, McGraw-Hill,
Boston.

Kao, RWY & Liang, TW 2001, Entrepreneurship and enterprise development in Asia, Prentice
Hall, Singapore.

Lambing, PA & Kuehl, CR 2007, Entrepreneurship, 4th edn, Prentice Hall, New York.

Roberts, MJ, Stevenson, HH, Sahlman, WA, Marshall & Hammermesh, RG 2007, New
business ventures and the entrepreneur, 6th edn, McGraw-Hill, Boston.

Timmons, JA & Spinelli, S 2009, New venture creation, 8th edn, McGraw-Hill Irwin.

Wickham, PA 2006, Strategic entrepreneurship, 4th edn, Financial Times Prentice Hall,
London.

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Online resources:

Topic 1

4 lessons in creativity 2012, Ted Institute,

http://www.ted.com/talks/julie_burstein_4_lessons_in_creativity?embed=true.

Burstein shares four lessons about how to create in the face of challenge, self-doubt and
loss.

Topic 2

Your strategy needs a strategy, TedTalks TED@BCG Berlin,

https://www.ted.com/watch/ted-institute/ted-bcg/martin-reeves-your-strategy-needs-a-
strategy

Reeves discusses the question, is it possible to look ahead without stumbling over whats in
front of you? All too often companies spend precious time laying out long term strategic
plans, only to discover that their maps are out of date in a month. Reeves then offers a
solution. He advocates transitioning from relying on a single classical approach to strategy
and moving towards a more tailored approach to strategy and execution, selecting from five
distinct patterns of success.

Topic 5

The challenge of due diligence in China 2013, Ted Institute,

https://www.ted.com/watch/ted-institute/ted-bcg/yong-kwek-ping-the-challenge-of-due-
diligence-in-china

Ping talks about the challenges of assessing a potential investment in a Chinese company
and the unique set of challenges it poses. This includes lack of reliable financials and often
opaque ideas of the structure and relationships that drive a business. Ping walks through
typical transactions and offers advice on what to look for before green lighting a new deal.

Topic 6

What physics taught me about marketing 2010, TED Institute,

https://www.ted.com/talks/dan_cobley_what_physics_taught_me_about_marketing#t-
264292

Cobley shares his ideas about what physics and marketing have in common. He brings these
unlikely bedfellows together using Newton's second law, Heisenberg's uncertainty principle,
the scientific method and the second law of thermodynamics to explain the fundamental
theories of branding.

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Assessment

Online quiz (not assessed)

Written assignment (2500 words plus or minus 10%)
Exam (must pass the exam to pass the subject)

Assessment Brief description Weighting Due date Related

item Learning
Outcomes
Multiple choice questions
Online quiz 0% n/a n/a
with immediate feedback
Nine days before
2500 word (plus or minus
the relevant exam
Assignment 10%) written assignment. 25% 1, 2, 3, 4, 8
date (please refer
Details provided below
to your timetable)
3.5-hour exam including 30 Please refer to
Exam 75% 18
minute reading time your timetable

Assignment

Assume for the purposes of this assignment that you wish to enter the world of
entrepreneurship through a direct route by buying an existing business or buying a franchise.

Your task is to analyse either:

a) acquiring an existing business through outright purchase

OR

b) acquiring an existing business through the buying of a franchise.

The purpose of this assignment is to see whether you have analysed the options for
becoming an entrepreneur.

Use principles/concepts of entrepreneurship to write a report ensuring that you:

Provide a brief description of the industry and market you wish to enter. Explain why
you are interested in becoming an entrepreneur and include any relevant business, or
other experience that is suitable, in your answer.

Through analysis, consider the positioning of your product/service in the market and
the options for resourcing the business.

Provide recommendations as to whether or not you will acquire the business. The
recommendations should follow logically from your analysis.

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Important assignment instructions

The required word length for this assignment is 2500 words (plus or minus 10%).

Your assignment will be marked according to the criteria outlined in the assessment
grading criteria (see Appendix 1).

In terms of structure, presentation and style you are normally required to use:
o AIB standard report format
o AIB preferred Microsoft Word settings
o author-date style referencing (which includes in-text citations plus a reference
list).

These requirements are detailed in the AIB Style Guide.

Reference lists for AIB assignments/projects normally contain the following number of
relevant references from different sources: 612 (for MBA assignments).

All references must be from credible sources such as books, industry related journals,
magazines, company documents and recent academic articles.

Your grade will be adversely affected if your assignment contains no/poor citations
and/or reference list and if your assignment word length is beyond the allowed
tolerance level (see Assessment Policy available on AIB website).

Useful resources when working on your assignments include:

o AIB Assignment Guide
o AIB Style Guide.

Tools to assist you in your research include:

o AIB Online Library
- EBSCO Host online library
- IBIS World library.

You can access these through the student learning portal.

Assignment submission

Your assignment is normally due nine days before the relevant exam date (please refer to
your timetable) and must be submitted by 11:59 pm on the due date.

All assignment submission deadlines are listed on your personal timetable.

All assignments must be submitted via the learning portal.

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Exam

There is a three-hour written exam at the end of this subject with an additional 30 minutes
reading time.

All exam dates are listed on your personal timetable.

AIB exams consist of six equally weighted questions. You have to complete four out of six
questions. Please see the AIB Exam Guide available in your learning portal for information
on how to prepare for and take your exam.

All students, unless otherwise stated, must sit their exams at one of our pre-approved
examination centres in Australia or internationally. Students studying through one of AIBs
Teaching Centres sit their exams at the Teaching Centre with AIB approved invigilators.

Important information for exams

All MBA exams are open book exams.

Only the prescribed textbook for each subject can be brought into the examination.

Students using the 8th edition of the textbook are able to bring the following reading
into the examination room in addition to the prescribed textbook by Scarborough, NM
& Cornwall, JR 2016, Essentials of entrepreneurship and small business management,
8th edn, Pearson Education Limited, Harlow:

o Appendix 3 pages 256275 of Scarborough, NM 2014, Essentials of

entrepreneurship and small business management, 7th edn, Pearson Education
Limited, Harlow. (For Topic 5.)

All students may bring the following readings into the examination room in addition to
the prescribed textbook by Scarborough, NM & Cornwall, JR 2016, Essentials of
entrepreneurship and small business management, 8th edn, Pearson Education Limited,
Harlow:

o Appendix 1 pages 480482 of Kuratko, DF 2014, Entrepreneurship: theory,

process, practice, 9th edn, South-Western, Cengage Learning, Ohio. (For Topic 1.)

o Appendix 2 Martiarena, A 2013, 'Whats so entrepreneurial about

intrapreneurs?, Small Business Economics, vol. 40, pp. 2739. (For Topic 1.)

o Appendix 4 Dennis, WJ 2011a, 'Entrepreneurship, small business and public

policy levers, Journal of Small Business Management, vol. 49, no. 1, pp. 92106.
(For Topic 10.)

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o Appendix 5 Dennis, WJ 2011b, 'Entrepreneurship, small business and public

policy levers, Journal of Small Business Management, vol. 49, no. 2, pp. 149
162. (For Topic 10.)

Academic integrity: avoiding plagiarism, collusion and other issues

It is important to adhere to high standards of academic integrity. Academic integrity refers

to ethical, honest and responsible conduct in writing and reporting. Breaches of academic
integrity include:

Plagiarism submitting another persons words or ideas as your own without

appropriate acknowledgement and referencing.

Collusion submitting work as if it is ones own when in reality it has been completed
with others, including assisting or being assisted by another; receiving or giving
assignment details to another; or publishing ones work or related AIB materials
online.

Fabrication submitting work with results or data that do not exist and that have been
made up.

Double submission submitting substantially the same piece of work for more than
one subject unless agreed upon with the facilitators of the different subjects.

Please note that AIB checks assignments for plagiarism (using advanced text-matching
software) and for other academic misconduct. AIB penalises work and/or people found to
have been in breach of academic integrity.

For more details please see the Academic Integrity policy on the AIB website.

Planning your subject study

AIB has a monthly model of study. In every study month there are some key dates which are
outlined in the assessment table above.

You need to plan out regular study times and stick to them. Plan out your study times and
periods with the key dates. You can do this by first allocating time for living and working
activities (ensure you plan enough sleep, rest and relaxation) and then allocating your time
for study periods. In addition you should:

Plan your leave from work for the day of the exam.

Identify your time wasters and have strategies in place to manage them. For instance,
if you procrastinate, make sure you stick to study times, get started, and divide the
work into manageable pieces.

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Be disciplined. Stick to your plan and be realistic about what you can achieve.

The study planner below is provided as an example and it should be used as guidance only.

Subject Week* Suggested Progress

4 weeks prior to subject start date Review Subject Overview for details on your textbook. If
possible, obtain your textbook four weeks prior to the
exam.
Week 1 subject starts Familiarise yourself with assessment tasks.
Plan your assignment.
Plan your learning over the next four weeks. For example,
for a 10 topic subject, study Topics 13 in the first week.
Week 2 Study Topics 46.
Work on your assignment.
Week 3 Study Topics 710.
Finalise your assignment and submit by the due date.
Week 4 Revise all topics, practice exam techniques.
*Some study months may be longer in duration; the sample study planner above is based on a 4 week month.

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Appendix 1 Assessment Grading Criteria

Criteria Weight Performance Comment

(%)
Description of the Key Issues / Problem / Organisation
Presented information about the organisation. 10
Clearly articulated the key issues / problem.
Principles and Theories
Identified and demonstrated an understanding of relevant
principles. 20
Demonstrated the use of appropriate jargon.
Identified and discussed appropriate literature.
Analysis and Evaluation
Described method used.
Used facts and evidence to support argument / evaluation. 40
Applied principles and theory to the issue / problem.
Presented outcomes / recommendations with justifications.
Referencing
Acknowledged sources of facts appropriately.
Used appropriate number and quality of references (refer to AIB 10
Style Guide).
Adhered to author date style referencing conventions.
Structure and Presentation
Logically structured the content.
Demonstrated clear report format and presentation (as detailed in 10
AIBs guides).
Communication Style and Language
Demonstrated good writing style (as detailed in AIBs guides).
Adhered to the conventions of written English (grammar, 10
punctuation and spelling).

Marks: (Overall Mark)/100

Grade:
Overall Comment

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