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BUSINESS MODEL DESCRIPTION

BUSINESS MODEL DESCRIPTION

General Information

Overview Think Big is a unit about generating, developing, and evaluating ideas for the introduction of innovative and viable new ventures. Think Big entails a process of discovery designed to develop creation of dynamic and impactful enterprises. You will learn about innovation business concepts and the design of performance-differentiating business models. The unit will assist you to generate new marketable ideas and develop skills in innovative thinking, and market assessment in digital, commercial, service and social contexts. This unit will also introduce you to the concept of ideation and horizon thinking, and explore how creative and innovative ideas are generated through teamwork and by brainstorming or workshopping ideas. You will be able to apply the principles of lean entrepreneurship and appreciate what is involved when starting a business or a social enterprise, as well as how to pitch business ideas to potential investors as part of an entrepreneurial team. The unit has a strong practice and market disruption focus.

Details Career Level: Postgraduate Unit Level: Level 9 Credit Points: 6 Student Contribution Band: 3 Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites There are no requisites for this unit.

Offerings For Term 1 – 2019 Brisbane Mackay Melbourne Online Sydney

Attendance Requirements All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Website This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Please visit Moodle for more information.

https://moodle.cqu.edu.au
https://moodle.cqu.edu.au
Class and Assessment Overview

Recommended Student Time Commitment Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable Regional Campuses Bundaberg, Cairns, Emerald, Gladstone, Mackay, Noosa, Rockhampton, Townsville Metropolitan Campuses Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview 1. Practical Assessment Weighting: 30% 2. Practical Assessment Weighting: 30% 3. Presentation and Written Assessment Weighting: 40%

Assessment Grading This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

CQUniversity Policies

All University policies are available on the CQUniversity Policy site. You may wish to view these policies:

Grades and Results Procedure Assessment Policy and Procedure (Higher Education Coursework) Review of Grade Procedure Academic Misconduct Procedure Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students Monitoring Academic Progress (MAP) Policy and Procedure – International Students Refund and Excess Payments (Credit Balances) Policy and Procedure Student Feedback – Compliments and Complaints Policy and Procedure Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.

https://handbook.cqu.edu.au/facet/timetables
https://handbook.cqu.edu.au/facet/timetables
https://www.cqu.edu.au/policy/sharepoint-document-download?file_uri=%7BBE8380F3-F86D-4C55-AC0D-84A81EAFD6A2%7D/Grades%20and%20Results%20Procedure.pdf
https://policy.cqu.edu.au/
https://policy.cqu.edu.au/
Previous Student Feedback

Feedback, Recommendations and Responses Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from ‘Have Your Say’ survey responses Feedback I was really thinking a business after my graduation but I was not directed on how to carry out the business plan. So, this unit gave me a clear idea on how to start a new business through idea generation and present them in front of investor through business pitch. I will surely apply them in coming days. Thanks lecturer and unit coordinator for the providing such learning platform and boosting my confidence towards entrepreneurship. Recommendation Continue to highlight the value of research insights to the practical aspects of entrepreneurship. Furthermore, continue to highlight the commercialisation of ideas that arise through media coverage and networks.

Feedback from ‘Have Your Say’ survey responses Feedback Most practical unit I have come across so far. My professor has been a great inspiration. Recommendation The field is continuously evolving and this dynamic is great to share. Implementation and the continual recalibration of effort and resources underscores the importance of Lean Start-ups.

Feedback from ‘Have Your Say’ survey responses Feedback The way the explanation is given on moodle site for each assignment is excellent and easy to understand which is the best part of this unit. Recommendation Ensuring clarity of requirements in Moodle and quick access/navigation to relevant information reflects good design principles.

Feedback from ‘Have Your Say’ survey responses Feedback Awesome teaching staff and having good knowledge of subject. All over it was excellent Recommendation Maintain teaching excellence through regular collegial discussion of progress across the teaching term.

Feedback from ‘Have Your Say’ survey responses Feedback I guess the commercialisation part of the idea is what was not sufficiently covered in the course. Recommendation Commercialisation is a logical step forward in developing a subsequent unit.

Unit Learning Outcomes

On successful completion of this unit, you will be able to:

Define and apply key concepts of innovation in commercial, digital, service, and social contexts1. Investigate cases of disruptive innovation in different business and social contexts by applying lean2. entrepreneurship principles Develop ideas using conceptualisation frameworks, innovation personas and horizon thinking in different3. business and social contexts Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast4. the success and market diffusion of your innovation using business model design logic Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in5. real-life through the use of teamwork and brainstorming.

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Alignment of Learning Outcomes, Assessment and Graduate Attributes

⚫ IntroductoryLevel ⚫ Intermediate Level ⚫

Graduate Level ⚬

Professional Level ⚬

Advanced Level

Alignment of Assessment Tasks to Learning Outcomes Assessment Tasks Learning Outcomes

1 2 3 4 5

1 – Practical Assessment – 30% ⚫ ⚫ ⚫

2 – Practical Assessment – 30% ⚫ ⚫ ⚫

3 – Presentation and Written Assessment – 40% ⚫ ⚫ ⚫ ⚫

Alignment of Graduate Attributes to Learning Outcomes Graduate Attributes Learning Outcomes

1 2 3 4 5

1 – Knowledge ⚬ ⚬ ⚬ ⚬

2 – Communication ⚬ ⚬

3 – Cognitive, technical and creative skills ⚬ ⚬ ⚬ ⚬

4 – Research ⚬ ⚬ ⚬

5 – Self-management ⚬

6 – Ethical and Professional Responsibility ⚬

7 – Leadership ⚬ ⚬

Alignment of Assessment Tasks to Graduate Attributes Assessment Tasks Graduate Attributes

1 2 3 4 5 6 7

1 – Practical Assessment – 30% ⚬ ⚬ ⚬ ⚬ ⚬ ⚬

2 – Practical Assessment – 30% ⚬ ⚬ ⚬ ⚬ ⚬ ⚬ ⚬

3 – Presentation and Written Assessment – 40% ⚬ ⚬ ⚬ ⚬ ⚬ ⚬ ⚬

Textbooks and Resources

Textbooks Prescribed New Venture Creation: Entrepreneurship for the 21st Century 10 (2015) Authors: Spinelli S & Adams R McGraw Hill USA ISBN 9781308851020 Binding: eBook Additional Textbook Information Digital E-text book: https://www.mheducation.com.au/9781308851020-aus-ebook-new-venture-creation-entrepreneurs hip-for-the-21st-century-10th-edition ISBN 9781308851020 with a price of $54.95 However, if you prefer a paper text, they are available at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code)

View textbooks at the CQUniversity Bookshop

IT Resources You will need access to the following IT resources:

CQUniversity Student Email Internet Unit Website (Moodle)

Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association (APA) For further information, see the Assessment Tasks.

Teaching Contacts

Malcolm Johnson Unit Coordinator m.n.johnson@cqu.edu.au

https://protect-au.mimecast.com/s/A0swC81Zwrhww13Oc1HuBw?domain=mheducation.com.au
https://protect-au.mimecast.com/s/A0swC81Zwrhww13Oc1HuBw?domain=mheducation.com.au
http://bookshop.cqu.edu.au/
https://bookshop.cqu.edu.au/
http://www.cqu.edu.au/?a=58413
mailto:m.n.johnson@cqu.edu.au
Schedule – Think Big – Term 1 2019

Week 1 – 11 Mar 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Introduction to Think Big Part B: Workshop perspectives on the lean entrepreneur (and intrapreneur)

Spinelli S. & Adams, R. (2017) New Venture Creation: Entrepreneurship for the 21st Century. McGraw Hill. Chapters 1 & 2 Cooper, B. & Vlaskovits, P. (2013). The Lean Entrepreneur. Hoboken, NJ: Wiley Chapters 1 and 2

Week 2 – 18 Mar 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Business Model deconstruction Part B: Workshop the entrepreneurial process

Cooper, B. & Vlaskovits, P. (2013). The Lean Entrepreneur. Hoboken, NJ: Wiley Chapters 3 and 5. Osterwalder, A. & Pigneur, Y (2010) Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. Wiley. Chapter 1 and 2. Changers, and Challengers. Wiley Chapters 1 and 2

Week 3 – 25 Mar 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Advanced Manufacturing and Design Thinking Part B: Workshop the building blocks of a business model

Cooper, B. & Vlaskovits, P. (2013). The Lean Entrepreneur. Hoboken, NJ: Wiley Chapters 4 and 6. Osterwalder, A. & Pigneur, Y (2010) Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. Wiley. Chapter 3.

Please advise team you will be working with for Assignment 3

Week 4 – 01 Apr 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Disruptive technologies Part B: Workshop critical linkages and success factors in a business model.

Spinelli S. & Adams, R. (2017) New Venture Creation: Entrepreneurship for the 21st Century. McGraw Hill. Chapter 4 Cooper, B. & Vlaskovits, P. (2013). The Lean Entrepreneur. Hoboken, NJ: Wiley Chapter 2. Osterwalder, A. & Pigneur, Y (2010) Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. Wiley. Chapters 4 and 5.

Assessment 1: Business Model Deconstruction: Due Monday 8 April at 5:00PM AEST

Week 5 – 08 Apr 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Idea generation Part B: Workshop what does it take to develop a viable business idea

Spinelli S. & Adams, R. (2017) New Venture Creation: Entrepreneurship for the 21st Century. McGraw Hill. Chapters 5 & 6 Cooper, B. & Vlaskovits, P. (2013). The Lean Entrepreneur. Hoboken, NJ: Wiley Chapter 4. Osterwalder, A. & Pigneur, Y (2010) Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. Wiley. Chapter 4. Access materials in Moodle Week 5

BUSINESS MODEL DECONSTRUCTION Due: Week 5 Monday (8 Apr 2019) 5:00 pm AEST

Vacation Week – 15 Apr 2019

Module/Topic Chapter Events and Submissions/Topic

Week 6 – 22 Apr 2019

Module/Topic Chapter Events and Submissions/Topic

Part A: Digital age and integration of value chains and people’s networks Part B: Workshop alternative business ideas: are they solving a real need?

Access materials in Moodle Week 6

Week 7 – 29 Apr 2019

Module/Topic Chapter Events and Submissions/Topic

Workshop your preferred business idea: Is there a business model that will deliver this benefit profitably?

Access materials in Moodle Week 7

Week 8 – 06 May 2019

Module/Topic Chapter Events and Submissions/Topic

Workshop your preferred business idea: Identify the key linkages among the business model building blocks that are critical to the launch and early growth phases.

Access materials in Moodle Week 8.

Assignment 2: Idea Generation and Business Model Development: Due Monday 13 May at 5:00PM AEST

Idea Generation and Business Model Development Due: Week 8 Monday (6 May 2019) 5:00 pm AEST

Week 9 – 13 May 2019

Module/Topic Chapter Events and Submissions/Topic

Review the ideas developed by team members. Reach consensus on how you will select the ‘Best idea’ to develop further for Assignment 3

Access materials in Moodle Week 9.

Week 10 – 20 May 2019

Module/Topic Chapter Events and Submissions/Topic

Workshop idea enhancement Access materials in Moodle Week 10.

Week 11 – 27 May 2019

Module/Topic Chapter Events and Submissions/Topic

Workshop business model enhancement Access materials in Moodle Week 11.

Week 12 – 03 Jun 2019

Module/Topic Chapter Events and Submissions/Topic

Workshop Business Pitch presentation Assignment 3: Idea Selection and Business Pitch: Due Monday 10 June at 5:00PM AEST

Review/Exam Week – 10 Jun 2019

Module/Topic Chapter Events and Submissions/Topic

Idea Selection and Business Pitch Due: Review/Exam Week Monday (10 Jun 2019) 5:00 pm AEST

Exam Week – 17 Jun 2019

Module/Topic Chapter Events and Submissions/Topic

Assessment Tasks

1 BUSINESS MODEL DECONSTRUCTION Assessment Type Practical Assessment Task Description To be completed individually, you are required to prepare a 1500-word business report that deconstructs an organisation’s business model and identifies the critical success factors that make the business sustainable. Your analysis will demonstrate your critical thinking skills and your ability to professionally articulate your findings. Before commencing, you must seek your lecturer’s approval to undertake an analysis of the business you have chosen. The type of organisation that should be identified for study is one that is relatively new, innovative in how they operate, and have most likely been established in the last five years. To achieve a result that meets your study objectives, please ensure the business report addresses each of the assessment criteria detailed below and which is elaborated in the marking rubric.

Length: 1500-words Format: Business Report Business Model Canvas format: From Osterwalder & Pigneur (2010) Reference Format: American Psychological Association (APA)

Assessment Due Date Week 5 Monday (8 Apr 2019) 5:00 pm AEST Return Date to Students Week 6 Monday (22 Apr 2019) Results and marking comments will be available through Feedback Studio. Please click on the blue pencil to access the feedback. Weighting 30% Assessment Criteria This 30 per cent assignment will be assessed on the following criteria (pro-rated out of 100%):

Provide a succinct description of the business, the industry in which it operates, the market or markets it serves,1. and the products and services it provides (10%) Deconstruct the business model of the selected business using the nine building blocks in Osterwalder &2. Pigneur’s canvas (20%) Explain the key interrelationships that exist across the nine building blocks (20%)3. Identify and discuss the critical success factors the business has to get right to achieve sustainable success4. (10%) Evaluate what factors might impact the success of the business model (10%)5. Discuss the changes you would make to the business model if this was your business (20%)6. Quality of written submission, minimum 6 peer-reviewed journals, and APA referencing format (10%).7.

Referencing Style

American Psychological Association (APA)

Submission Online Submission Instructions Please submit via Turnitin in Moodle Learning Outcomes Assessed

Define and apply key concepts of innovation in commercial, digital, service, and social contexts Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in real-life through the use of teamwork and brainstorming.

Graduate Attributes

http://www.cqu.edu.au/?a=58413
Knowledge Communication Cognitive, technical and creative skills Research Self-management Leadership

2 Idea Generation and Business Model Development Assessment Type Practical Assessment Task Description The objective of this individual assessment submission is to learn how to develop your own business idea, complemented by research and observational insights that detail why the need is compelling. Please submit a 1500- word business report of your idea, a detailed business model (BM) canvas, discussion of the interrelationships among the BM components that are essential to success, critical risks and assumptions, and overall feasibility. The business model canvas must be discussed in the report and included as an appendix. The assessment criteria are detailed below. Length: 1500 words Format: Business Report Business Model Canvas format: From Osterwalder & Pigneur (2010) Reference Format: APA

Assessment Due Date Week 8 Monday (6 May 2019) 5:00 pm AEST Return Date to Students Week 10 Monday (20 May 2019) Results and marker comments will be available in Moodle through Feedback Studio. Please click on the blue Pencil to access feedback. Weighting 30% Assessment Criteria Idea Generation and Business Model Development (30%). Criteria evaluation below pro-rated out of 100%. Marking Rubric provided in Moodle.

Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is1. required. (15%) Persuasive argument of the customer/client benefits to be generated by the idea (10%)2. Discussion of the proposed business model (15%)3. Identification and discussion of the key interrelationships in the BM that will support success of the idea (10%)4. Critical success factors to be managed during execution of the idea (15%)5. Identification of critical risks and assumptions (10%)6. Evaluation of the overall feasibility of the idea (15%)7. Quality of written submission, minimum 6 peer-reviewed journals, and APA referencing format (10%).8.

Referencing Style

American Psychological Association (APA)

Submission Online Submission Instructions Please submit online via Moodle Learning Outcomes Assessed

Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles Develop ideas using conceptualisation frameworks, innovation personas and horizon thinking in different business and social contexts Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic

http://www.cqu.edu.au/?a=58413
Graduate Attributes

Knowledge Communication Cognitive, technical and creative skills Research Self-management Ethical and Professional Responsibility Leadership

3 Idea Selection and Business Pitch Assessment Type Presentation and Written Assessment Task Description This is a group assignment that builds on the work completed in Assessment 2. The objective of Assessment 3 is to develop skills that enable you to evaluate which idea (from Assessment 2) has the highest chance of success, and to then prepare a pitch that presents a compelling business case to secure financial backing. This facilitates an appreciation of what potential investors will be evaluating before they commit to project investment. In summary, there are two parts to Assessment 3. The first requires the group to prepare a 1500-word business report that compares then selects which business idea to present from Assessment 2. The second involves everyone in the team pitching the idea to secure development capital. This needs to be recorded in Zoom with each team member presenting relevant PPT slides. Both the Business Report (Idea Selection) and Pitch (Zoom video recording) need to be uploaded by the team leader (only) to Turnitin in Moodle. The criteria for each component of the assessment are detailed below: Idea Selection (15%) The structure of the 1500-word business report should be set out as follows (with pro-rata assessment weighting totalling 100%): 1. Idea Evaluation (Develop an evaluation framework to compare the ideas developed individually in Assessment 2) (20%) 2. Idea Selection (Describe and justify how the best idea was selected) (20%) 3. Improvements (Identify any gaps that need to be addressed before the idea is pitched to an investor) (20%) 4. Revised Business Model (Amend the business model canvas to incorporate the above revisions) (20%) 5. Cash flow projections (Prepare ‘best case’ and ‘worst case’ cash flow projections for the first two years. Remember to state your assumptions about the key drivers of cash flow in each scenario) (20%) The Pitch (25%) Using Zoom, record a (maximum) 10-minute PowerPoint presentation that explains and sells the business idea to potential investors and customers Each team member must present their aspect of the pitch in no more than 3-minutes. The pitch should be structured to include the following (with pro-rata assessment weighting totalling 100%): 1. Overview of the proposed venture idea and underlying business model (10%) 2. More detailed explanation of: a. The problem solved (5%); b. How the idea is monetised (5%); c. Financial feasibility ( Cash flow projections for the first two years: and Key Ratios: Break-even point and ROI) (5%); d. Operational feasibility (5%); and e. Scope and scalability of the idea for commercialisation (5%). 3. What you are seeking from the investor (10%) 4. What you are offering in return (10%) 5. Presentation was creative and persuasive (15%) 6. Presentation demonstrated commercial acumen (15%) 7. Evidence (references) supporting the idea are provided in the Notes sections of relevant PPT slides (15%)

Assessment Due Date Review/Exam Week Monday (10 Jun 2019) 5:00 pm AEST On behalf of all group members, the group leader is required to upload to Moodle the 1500-word business report selecting the idea, a video recording of the pitch using Zoom, and the PowerPoint used. Return Date to Students Exam Week Monday (17 Jun 2019) Results for the assignment will be returned after finalisation of grades. Weighting 40%

Assessment Criteria Idea selection (15%) will be assessed (pro-rata out of 100%) on the following criteria: 1. Develop an evaluation framework to compare the ideas that were developed individually in Assessment 2 (20%) 2. Describe and justify how the best idea was selected (20%) 3. Identify any gaps that need to be addressed before the idea is pitched to an investor (20%) 4. Revision of the business model canvas to incorporate the above (20%) 5. Prepare ‘best case’ and ‘worst case’ cash flow projections for the first two years (20%)

Presentation Pitch (25%) will be assessed (pro-rata out of 100%) on the following criteria: 1. Overview of the proposed venture idea and underlying business model (10%) 2. More detailed explanation of: a. the problem solved (5%); b. how the idea is monetised (5%); c. financial feasibility (Key Ratios: Break-even point and ROI) (5%); d. operational feasibility (5%); and e. scope and scalability of the idea for commercialisation (5%). 3. What you are seeking from the investor (10%) 4. What you are offering in return (10%) 5. Presentation was creative and persuasive (15%) 6. Presentation demonstrated commercial acumen (15%) 7. Evidence (references) supporting the idea are provided in the Notes sections of relevant PPT slides (15%)

Referencing Style

American Psychological Association (APA)

Submission Online Group Submission Instructions On behalf of all group members, the team leader is required to upload to Turnitin in Moodle the 1500-word business report selecting the idea, and a video recording of the pitch using Zoom, and the PowerPoint used. Learning Outcomes Assessed

Define and apply key concepts of innovation in commercial, digital, service, and social contexts Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in real-life through the use of teamwork and brainstorming.

Graduate Attributes

Knowledge Communication Cognitive, technical and creative skills Research Self-management Ethical and Professional Responsibility Leadership

http://www.cqu.edu.au/?a=58413

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