This module prepares students for future immersion in a business incubation environment, in order to launch and/or consolidate their business. The business value position is based on the learning in Module TDRI801, utilising the transdisciplinary framework. Students will undertake entrepreneurship-focused research in order to understand, evaluate, and mitigate risk. They will understand the context-specific legal implications and requirements of business ownership, through ongoing knowledge-exchange activities undertaken with practicing entrepreneurs and industry/sector experts.
Students will identify and test business model assumptions in the marketplace. They will develop both the professional, and associated soft, skills to support entrepreneurial success, and to develop a creative and vibrant innovation-focused support network around themselves.
- Learning Outcomes
- Develop, test, and refine a business model concept through market validation activities.
Determine the processes and develop competence in the professional and soft skills associated with successful entrepreneurial behaviours and actions
Source, synthesise, analyse and formulate appropriate conclusions from both primary and secondary data sources
Interpret and critically assess financial data, and manage start-up and ongoing operational costs, including the provision of informed summaries of funding sources appropriate to business need
Assess and critically evaluate opportunities and constraints for the chosen business; and appraise and appropriately manage the contextualised legal and regulatory requirements and responsibilities associated with business ownership
- Teaching and Learning Strategy
- While a variety of teaching and learning methods will be used, the predominate mode of delivery is facilitation and coaching which is in alignment with Wintec’s Ako teaching and learning directions. Teaching learning methods will include:
• Industry/Incubator Mentors
• Independent Study
• Site Visits
• Guest Speakers
• Group Work
• Networking Events
• Public Presentation(s)
• Desk-based Research
• Supported Peer-Learning
Students will be based in a designated holistic learning environment that encourages and promotes both value-adding professional networking and collaboration opportunities, and the development of a transdisciplinary culture of innovation and knowledge exchange.
- 1. Research methodologies and tools in enterprise value (products and service) design and positioning
2. Professional Skills: Project Management, Professional Communication, Team Working, Desk- and Participant-Based Research, Data Synthesis, Financial Literacy, Critical Analysis, Reviewing and Reflecting
3. Soft Skills: Creative Thinking and Problem Solving, Experimentation, Self-Directed Learning, Inspiring Others, Personal Resilience, Learning from Failure, Emotional Intelligence, Inter-Personal Communication
4. Business Model Canvas and Lean Start-Up Methodology (including Minimum Viable Product creation)
5. Legal Requirements for Business Ownership
- Assessment Criteria
- Students must complete all components of the course and must achieve a minimum grade of 50% to pass this module.
Portfolio: In this transdisciplinary environment, portfolios will be web-based and built upon a collection of individual pieces of work that provide evidence to demonstrate completion of identified tasks, including reflection, selection of processes / procedures of evaluation and the final artefact.
Assessment rubrics will be used to detail a set of criteria and performance descriptors illustrating the performance being measured.