MA625 - Entrepreneurship and Innovation
Credit Points: 15 credit points
Workload: 36 hours
Aims & Objectives
This is a Year 2, Elective Unit in the Master of Professional Accounting. For Course Learning Outcomes and further information relating to Master of Professional Accounting program please visit our website: http://www.mit.edu.au/study-with-us/programs/master-professional-accounting.
In this unit, we will apply a flipped classroom instructional strategy to maximise the engagement of students and active learning activities. This strategy will allow instructors to understand students’ difficulties to the maximum level that will facilitate to bring different learning preferences. In this unit we will apply this approach in the following ways:
- Before the class, instructor will provide a new set of study topics and materials to students to prepare for the upcoming class.
- During the class, instructor will encourage and engage students to apply and analyse the Pre-assigned task with idea-exchange and feedback approach from the pre class activities stated above.
- After the class, the instructor will make sure that students are able to practice, develop and create knowledge through the assigned tasks from the in class activities.
Finally the student is totally immersed into all activities from preparing before the class, during and after class. The culmination of all these activities enriches the student’s overall understanding of the unit at large.
MA625 Entrepreneurship and Innovation introduces students to the concepts of innovation and entrepreneurship and their practical application in the real world. It also covers the processes used in innovation and how to be an entrepreneur. Students are taught step-by-step processes for managing entrepreneurship in an organisation using appropriate theories, scenarios and practices that are further enforced through case studies and examples.
This unit will cover the following topics:
- The Global Movement of Entrepreneurship and Practice of Entrepreneurship
- Developing an Entrepreneurial Mind-Set and Supporting Social Entrepreneurship
- Generating New Ideas and Using Design Thinking
- Testing and Experimenting in Markets
- Building Business Models and Creating Revenue Models
- Planning for Entrepreneurs
- Learning from Failure
- Bootstrapping for Sources and Financing for Startups
- Developing Networks
- Navigating Legal and IP Issues
- Marketing and Pitching Your Idea
Course Learning Outcomes
The Course learning outcomes applicable to this unit are listed on the Melbourne Institute of Technology’s website: https://www.mit.edu.au/study-with-us/programs/master-professional-accounting.
At the completion of this unit, students will be able to:
a. Critically review the global movement of entrepreneurship, the significance and practice of entrepreneurship/innovation, including social entrepreneurship.
b. Critically analyse entrepreneurship/innovation, and understand the processes of entrepreneurial start-ups in real practice situations.
c. Critically evaluate entrepreneurship planning including, butnot limited to: sources of financing, networks for entrepreneurs, legal/IP issues, and the marketing of an innovative idea.
d. Learn to work in a diverse environment cooperatively and collaboratively to achieve team/group objectives.
e. Critically analyse and interpret case studies, research and integrate appropriate theoretical entrepreneurship and innovation concepts in the production of a project report.
|Assessment Task||Due Date||A||B||Unit Learning Outcomes|
|1. Contribution and Participation||Weeks 1-12||-||10%||a-e|
|2. Formative Assessment||Week 3||-||5%||a|
|3. Case Study Analysis [Individual]||Week 6||25%||-||c,e|
|4. Business Plan [Group]||Week 12||50%||-||a-e|
|5. Presentation [Group] (based on Business Plan [Group])||Week 12||-||10%||a-e|
Task Type: Type A: unsupervised, Type B: supervised.
Contribution and Participation (10%)
This unit has class participation as an assessment. The assessment task and marking rubric will follow the Guidelines on Assessing Class Participation (https://www.mit.edu.au/about-us/governance/institute-rulespolicies-and-plans/policies-procedures-and-guidelines/Guidelines_on_Assessing_Class_Participation). Further details will be provided in the assessment specification on the type of assessment tasks and the marking rubrics.
NOTE: All School of Business units 3-hour workshops Flipped Classroom Mode.
Textbook and Reference Materials
Note: Students are required to purchase the prescribed textbook and have it available each week in class.
Copies of the textbook are available in the MIT Library.
Prescribed Text Book
- Neck, H. M., Neck, C. P., Murray, E. L. (2018). Entrepreneurship: The Practice and Mindset. SAGE Publications, Inc.
Other recommended references
- Clark, D. (2018). Alibaba: The House That Jack Ma Built. USA: Ecco.
- Lin, O.C.C. (2018). Innovation and Entrepreneurship: Choice and Challenge. Singapore: World Scientific Publishing Pte. Ltd.
- Erisman, P. (2017). Six Billion Shoppers: The Companies Winning the Global E-Commerce Boom. Australia.
- Samson, D. & Gloet, M. (2016). Innovation and Entrepreneurship: Creating New Value. Australia: Oxford University Press.
- Kuratko, D. F. (2016). Entrepreneurship - Theory, Process, Practice, 10th edition, U.S.A: Cengage Learning.
- Bessant, J. & Tidd, J. (2015) Innovation and Entrepreneurship, 3rd Edition. USA: Lussier, R. N., Corman, J. & Kimball, D. C. (2015). Entrepreneurial new venture skills, 3rd edition. U.S.A: Routledge Taylor & Francis Group.
Journal and business articles
- Bhansing, P.V., Hitters, E., & Wijngaarden, Y. (2018). “Passion Inspires: Motivations of Creative Entrepreneurs in Creative Business Centres in the Netherlands”. The Journal of Entrepreneurship, February 12, 2018.
- De la Vina, L. Y., & Black, S. L. (2018). “US Equity Crowdfunding: A Review of Current Legislation and A Conceptual Model of the Implications for Equity Funding”. The Journal of Entrepreneurship, February 12, 2018.
- Xiong, H., Wang, P. & Bobashev, G. (2018). “Multiple peer effects in the diffusion of innovations on social networks: a simulation study”. The Journal of Innovation and Entrepreneurship, March, 2018.
- Kosa, A., & Mohammed, I. (2017). “Uncovering the backings to passion: why do small firm owners/managers engage in entrepreneurship?”. The Journal of Innovation and Entrepreneurship, November 3, 2017.
- Journal of Business Venturing.
- Small Business Economics.
- Entrepreneurship Theory and Practice.
- Journal of Small Business Management.
- Journal of Developmental Entrepreneurship.
Check the unit Moodle page for additional recommended readings throughout the trimester.
The Referencing style for this unit is APA: See the MIT Library Referencing webpage: https://library.mit.edu.au/referencing/APA and the Unit Moodle page for additional referencing support material and weblinks.
MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:
|Ability to communicate||Independent and Lifelong Learning||Ethics||Analytical and Problem Solving||Cultural and Global Awareness||Team work||Specialist knowledge of a field of study|
|Levels of attainment||Extent covered|
|The attribute is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations.|
|The attribute is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations.|
|The attribute is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations.|
|The attribute is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials.|
|The attribute is not considered, there is no theory or practice or activities associated with this attribute.|