MGMT5611 Entrepreneurship and New Venture Management - 2021

Term 3
6 Units of Credit
Management & Governance
This course outline is for the current term. To view outlines from other years and/or terms, visit the archives

1. Course Details

Given the ongoing COVID-19 restrictions in NSW, all Term 3 courses will be delivered online until at least Friday 22nd October and all assessment will be online throughout the term. The University remains hopeful that the situation will improve to allow for some on-campus activities later in Term 3 such as lab, practical and studio classes. UNSW will continue to review the situation regularly and keep students updated. For further information on how your study may be affected this term, please see FAQs here. See tab 8. Policies and Support in this course outline for tips on online study and assessment.

Summary of Course

​This course provides you with an introduction to the concepts and capabilities necessary to successfully commercialise new ideas. Entrepreneurship is about more than coming up with an idea or starting a business. It is also about identifying and validating good opportunities and then creating, communicating, and capturing value from those opportunities over time. This includes new firms as well as firms in corporate and non-profit settings.

This course will emphasize new venture formation. In doing so, this course will provide experiential learning opportunities for you to develop real skills in identifying and validating business opportunities, and articulating these opportunities in multiple formats (video, live and written). To bring the real world into the classroom, guest entrepreneurs and/or investors will come to class and share their experiences with you (where feasible considering the social distancing restrictions). Vice-versa, this course also provides opportunities to get you out of the classroom and learn by doing (virtually, for this term, due to the social distancing restrictions).

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

Course Aims and Relationship to Other Courses

By taking this course, you will develop the skills to:

1. Generate ideas to solve a business problem and address a customer need

2. Validate your business idea

3. Pitch your business to attract funding

4. Work as a team to commercialize your business idea

The course is an introductory course designed for undergraduate students of all faculties and has no prerequisites. This course may be taken as a free elective for Business School students, or as a general education requirement for non-Business School students. As a result, most of your classmates may be outside your faculty.

2. Staff Contact Details

Position Title Name Email Location Phone Consultation Times
Lecturer-in-chargeDrSiran ZhanBusiness School 5th Floor
by appointment, email to arrange.

​Consultation with students can be arranged via email, typically at least 2 working days in advance.

Students can expect email replies within 48 hours during business hours.

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

Entrepreneurship is by nature a hands-on and collective process.

In order to learn and do well in this course, you MUST TAKE ACTIVE ENTREPRENEURIAL ACTIONS, such as telling others about your new business idea, rapidly prototyping your products and testing them with target customers, and analyzing the results of those tests. Coming to class with an "I'll just read and listen" attitude and approach will not lead to learning or good course performance.

This term we have adopted a blended approach to learning with both synchronous and asynchronous learning activities across the term. This approach allows students the opportunity to interact with the instructors and fellow students during the synchronous sessions (despite all the lectures being delivered online) and the flexibility to make use of a few asynchronous sessions to slow down, catch up, and arrange small-group consultations with the instructors.  

Learning Activities and Teaching Strategies

Please note that for T3 2021, the whole course will be delivered fully online due to COVID-19 related considerations.

For lectures, we will have live lectures of 1.5 hours each week.

For tutorials, we will only have 4 live tutorials. In addition to live tutorials, asynchronous tutorial participation will take place. It will involve (1) you participating in guided tutorial materials to work on planned activities which all contribute to your assessment projects and (2) scheduled video/email/face-to-face consultations with the tutors (where needed) to get personalized feedback on your assignments. Live tutorials will take place in weeks 1, 3, 5, and 7. Tutorials in the other weeks will be completely asynchronous.

IMPORTANT NOTE: Students are required to attend the final tutorials in week 10 live in order to deliver the pitches (a final assessment for the course).

For your understanding of the terminologies used, please read the explanations about the different kinds of sessions below:

Synchronous lecture = online live lecture (i.e., you should join a live Zoom meeting to attend the lecture).

Synchronous tutorial = live tutorial online (i.e., you should join the live sessions on Zoom).

Asynchronous lecture = pre-recorded lecture (i.e., you can watch the lecture any time during the week before you attend the tutorial). There are no asynchronous lectures in this course.

Asynchronous tutorial = pre-recorded or guided tutorial that is not live (i.e., you can complete the tutorial any time during the week without in-person participation).

5. Course Resources

Textbook: The Lean Startup. Ries, E., 2011. Crown Business.

Detailed reading list is provided on Moodle.

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

This course constantly evolves and is evaluated towards the end of the trimester using the myExperience survey. As a result of feedback, the course design and assessments are being improved each trimester. The course design is also influenced by concurrent curriculum design at other universities and developments in the Sydney startup ecosystem. MORE IMPORTANTLY, note that the design for the course in T3 2021 has been influenced by special considerations given to the online delivery mode due to COVID-19. Student feedback from 2020 and early 2021 has also been incorporated into the design of the course for T3 2021, as outlined below:

Typically, we conduct 9 x 1.5 hour Lectures. Given the online learning environment due to COVID-19, we will have live lectures of 1.5 hours each week.

Typically, we conduct 10 x 2 hours face to face tutorials in which you work on various components of your assessments - starting a new venture of your own. Given the online learning environment due to COVID-19, we will only have 4 live tutorials. The others will be recorded videos and activities guides and you can also schedule consultations with the tutors (where needed) to get feedback on your assignments.

Also, based on the student feedback that online learning is particularly challenging and time-consuming for team work, we have consolidated two previous team assignments into a single one (i.e., the team pitch in Week 10) so as to facilitate student experience.

Informal feedback about the course design is always appreciated, anytime!

7. Course Schedule

Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit:
Week Activity Topic Assessment/Other
Week 1: 13 SeptLecture (Synchronous)

Make Something People Want 1: Get in the heads of your customers

  • The Lean Startup Methodology
  • Coming up with business ideas
Tutorial (Synchronous)

Make Something People Want 1: Get in the heads of your customers

  • Identify a customer need and generate solutions
  • Clarify your value proposition
  • Design your customer persona
Week 2: 20 SeptLecture (Synchronous)

Make Something People Want 2: Sell your product before it exists

  • Prototyping: what is your minimum viable product?
Tutorial (Asynchronous)

Make Something People Want 2: Sell your product before it exists

  • Prototyping workshop: design your minimum viable product (i.e., landing page)
Week 3: 27 SeptLecture (Synchronous)

Product Market Fit 1: Who is your customer?

  • Everything about your customers - making use of the Business Model Canvas
  • How do you know you are right? Validating assumptions (i.e., hypothesis) through Build-Measure-Learn (BML)

Landing page due (Check Assessment section for detailed information)

Tutorial (Synchronous)

Product Market Fit 1: Who is your client?

  • Map out everything about your customers on the Business Model Canvas
  • Design experiments using the BML framework to test your assumptions
Week 4: 4 OctLecture (Synchronous)

Product Market Fit 2: Getting real-world feedback/validation

  • Use landing page to test your assumptions/hypotheses
Tutorial (Asynchronous)

Product Market Fit 2: Getting real-world feedback/validation

  • Setting up your experiment
  • Use the landing page to test assumptions/hypotheses with Google Analytics
Week 5: 11 OctLecture (Synchronous)

Product Market Fit 3: Real-world examples

  • Guest speaker on how they validated their assumptions and found their product-market fit

Quiz 1 in lecture

Tutorial (Synchronous)

Product Market Fit 3: Prototyping

  • Analyzing your experiment data
  • Interpreting your findings
  • Plan next steps based on experiment results: keep going or pivot?
Week 6: 18 OctFlexibility week

No Lecture

No Tutorial

Week 7: 25 OctLecture (Synchronous)

Raising funds and pitch your business

  • What investors look for
  • Tips on pitching your business

Hypothesis test and design assignment due (Check Assessment section for detailed information)

Tutorial (Synchronous)

Raising funds and pitch your business

  • Go over examples, good practices, and pitch killers
  • Prepare for your pitch for demo day
Week 8: 1 NovLecture (Synchronous)

Monetize your business

  • Revenue model: how do businesses make money?
Tutorial (Asynchronous)

Monetize your business

  • Design your revenue model
  • Understand your cost structure
  • Build the above into your business plan
Week 9: 8 NovLecture (Synchronous)

Growth hacking

  • Growth hacking strategies



Tutorial (Asynchronous)

Growth hacking

  • Continue developing your Business by incorporating your growth strategies
  • Mock pitches with tutors to get feedback
Week 10 : 15 NovLecture (Synchronous)

Wrap up

Guest speaker

Student Q&A


Quiz 2 in lecture


Tutorial (Synchronous)

Demo Day

Pitch your business!

IMPORTANT NOTE: Students are expected to be attending this seminar live in order to deliver the pitches (a final assessment for the course).

Final pitch in tutorials (Check Assessment section for detailed information)

8. Policies and Support

Information about UNSW Business School program learning outcomes, academic integrity, student responsibilities and student support services. For information regarding special consideration and viewing final exam scripts, please go to the key policies and support page.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs.  Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.



UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Services team.

Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.


UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz:


The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at:

For UNSW policies, penalties, and information to help you avoid plagiarism see: as well as the guidelines in the online ELISE tutorials for all new UNSW students: For information on student conduct see:

For information on how to acknowledge your sources and reference correctly, see: If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.

Student Responsibilities and Conduct

​Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.


It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload


Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Learning Support Tools
Business School provides support a wide range of free resources and services to help students in-class and out-of-class, as well as online. These include:

  • Academic Communication Essentials – A range of academic communication workshops, modules and resources to assist you in developing your academic communication skills.
  • Learning consultations – Meet learning consultants who have expertise in business studies, literacy, numeracy and statistics, writing, referencing, and researching at university level.
  • PASS classes – Study sessions facilitated by students who have previously and successfully completed the course.
  • Textbook access scheme – To support the inclusion and success of students from equity groups enrolled at UNSW Sydney in first year undergraduate Business programs.

The Nucleus - Business School Student Services team
The Nucleus Student Services team provides advice and direction on all aspects of enrolment and graduation. Level 2, Main Library, Kensington 02 8936 7005 /

Business School Equity, Diversity and Inclusion
The Business School Equity, Diversity and Inclusion Committee strives to ensure that every student is empowered to have equal access to education. The Business School provides a vibrant, safe, and equitable environment for education, research, and engagement that embraces diversity and treats all people with dignity and respect.

UNSW Learning & Careers Hub
The UNSW Learning & Careers Hub provides academic skills and careers support services—including workshops, individual consultations and a range of online resources—for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
02 9385 2060

Student Support Advisors
Student Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process.
John Goodsell Building, Ground Floor.
02 9385 4734

International Student Support
The International Student Experience Unit (ISEU) is the first point of contact for international students. ISEU staff are always here to help with personalised advice and information about all aspects of university life and life in Australia.
Advisors can support you with your student visa, health and wellbeing, making friends, accommodation and academic performance.
02 9385 4734

Equitable Learning Services
Equitable Learning Services (formerly Disability Support Services) is a free and confidential service that provides practical support to ensure that your health condition doesn't adversely affect your studies. Register with the service to receive educational adjustments.
Ground Floor, John Goodsell Building.
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
02 9385 5418

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9065 9444

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
02 9385 3331

UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333

Support for Studying Online

The Business School and UNSW provide a wide range of tools, support and advice to help students achieve their online learning goals. 

The UNSW Guide to Online Study page provides guidance for students on how to make the most of online study.

We recognise that completing quizzes and exams online can be challenging for a number of reasons, including the possibility of technical glitches or lack of reliable internet. We recommend you review the Online Exam Preparation Checklist of things to prepare when sitting an online exam.