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HE Unit Template
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Entrepreneurship and Innovation
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BUDIP1501 - Entrepreneurship and Innovation
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20250900
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2.3
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2026-09-10
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2026-09-10
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Business
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Institute of Innovation, Science & Sustainability
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Business
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Undergraduate
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15
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.125
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080300
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Business and Management
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080300 - Business and Management
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<a href="http://www.federation.edu.au/locate/unit/budip1501">View unit fees</a>
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Graded (e.g. HD, D, C, etc)
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5
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Diploma, Undergraduate Certificate
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Introductory
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1
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<p>Entrepreneurship and innovation are important areas in today’s business world. In the past, entrepreneurship has mainly focused on starting small businesses, while innovation has often been about creating new products. This unit introduces students to both areas and helps them understand how they are connected. Students will learn the basic concepts of entrepreneurship and innovation and how these can be applied in practical ways. The unit will focus on developing students’ creativity and problem-solving skills, and their ability to work with others to bring ideas to life. Students will also explore how to recognize business opportunities, find resources, and begin developing simple business ideas or improvements within existing organizations. The course has been designed to incorporate additional learning hours to support students’ academic and study skill development.</p>
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<p>Topics may include:</p>
<p>1. Entrepreneurship and innovation: theories and trends</p>
<p>2. Social innovation and social entrepreneurship for solving ‘wicked’ problems in a globalised world</p>
<p>3. Industries in transition - sustainable innovation</p>
<p>4. Harnessing an entrepreneurial / intrepreneurial mindset</p>
<p>5. New venture development: opportunity identification, evaluation and exploitation</p>
<p>6. Research and planning for new ventures</p>
<p>7. Acquiring support: sources of financial and strategic input</p>
<p>8. Managing growth and transition</p>
<p>9. Leading through complexity and harnessing adaptive capacity</p>
<p>10. Pitching your venture</p>
<p>11. The value of failure</p>
<p>12. Reflections on an entrepreneurial journey</p>
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<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
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2027
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2026
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Semester 1
Semester 2
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Year
2027
2026
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Overview
Key information
Requisites
Learning outcomes
Assessment
FedTASK
Parent Region
Overview
Unit description
<p>Entrepreneurship and innovation are important areas in today’s business world. In the past, entrepreneurship has mainly focused on starting small businesses, while innovation has often been about creating new products. This unit introduces students to both areas and helps them understand how they are connected. Students will learn the basic concepts of entrepreneurship and innovation and how these can be applied in practical ways. The unit will focus on developing students’ creativity and problem-solving skills, and their ability to work with others to bring ideas to life. Students will also explore how to recognize business opportunities, find resources, and begin developing simple business ideas or improvements within existing organizations. The course has been designed to incorporate additional learning hours to support students’ academic and study skill development.</p>
Unit content
<p>Topics may include:</p> <p>1. Entrepreneurship and innovation: theories and trends</p> <p>2. Social innovation and social entrepreneurship for solving ‘wicked’ problems in a globalised world</p> <p>3. Industries in transition - sustainable innovation</p> <p>4. Harnessing an entrepreneurial / intrepreneurial mindset</p> <p>5. New venture development: opportunity identification, evaluation and exploitation</p> <p>6. Research and planning for new ventures</p> <p>7. Acquiring support: sources of financial and strategic input</p> <p>8. Managing growth and transition</p> <p>9. Leading through complexity and harnessing adaptive capacity</p> <p>10. Pitching your venture</p> <p>11. The value of failure</p> <p>12. Reflections on an entrepreneurial journey</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080300 - Business and Management
Offering:
<p><strong>Semester 1</strong><p>Melbourne City Campus (On Campus)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/budip1501">View unit fees</a>
Requisites
Prerequisite
None
Corequisite
None
Exclusion
<p>must not have completed <a href="/ords/r/curriculum/catalogue/course?p6_code=GPENT1501" target="_blank">GPENT1501</a> AND must not have completed <a href="/ords/r/curriculum/catalogue/course?p6_code=BUMGT1101" target="_blank">BUMGT1101</a></p>
Learning outcomes
Learning outcomes
<p>On successful completion of this unit, students are expected to gain the following [K]nowledge, [S]kills and [A]pplication of knowledge & skills</p>
Learning Outcomes
Ref
Outcome
K1
<p>Describe various theoretical and practical underpinnings of entrepreneurship and innovation.</p>
K2
<p>Recognise the different forms of entrepreneurship, including private, social, civic and intrapreneurship.</p>
K3
<p>Explain the principles and conceptual frameworks used in developing new innovations and launching successful entrepreneurial activities.</p>
K4
<p>Explain the impact of entrepreneurship and innovation in society. </p>
K5
<p>Explain the social and ecological impacts of entrepreneurial change, including the potential of social entrepreneurship and innovation for solving complex social and environmental problems.</p>
S1
<p>Describe the role of entrepreneurship and innovation across various organizational environments. </p>
S2
<p>Outline the sequences of innovation for new venture creation. </p>
S3
<p>Summarize entrepreneurial and innovative strategies for facilitating entrepreneurial actions and opportunities. </p>
S4
<p>Propose in written and/or oral form entrepreneurial business strategies.</p>
S5
<p>Develop the appropriate language and academic skills to study at an undergraduate level</p>
A1
<p>Demonstrate an environmental analysis from an entrepreneurial context. </p>
A2
<p>Demonstrate critical thinking and judgement individually or collaboratively in applying business scenarios from an entrepreneurial perspective.</p>
Assessment
Learning Tasks and Assessment
Ref
Learning task
Assessment type
Weighting
Learning outcomes assessed
1
<p>Assessing students' understanding of the topics covered till the assignment due date</p>
<p>Quiz (Individual assignment)</p>
<p>10-20%</p>
K1, K2, K3, K4, K5
2
<p>Critique of an entrepreneur/entrepreneurial organisation (case organisation)</p>
<p>Individual assignment</p>
<p>20-30%</p>
K1, K2, K4, K5, S1, S2, S4, A2
3
<p>New venture development and pitch</p>
<p>Group assignment (Written report and/or presentation)</p>
<p>30-40%</p>
K3, K5, S1, S2, S3, S4, A1, A2
4
<p>Group Presentation </p>
<p>Group Presentation </p>
<p>10-20%</p>
K1, K3, K4, K5, S1, S3, S4, S5, A1
Supplementary assessment available:
Yes
Supplementary assessment information:
<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
FedTASK
FedTASK
Description of FedTASK outcome
Level
FedTASK 1: Interpersonal
The ability to effectively communicate, interact and work with others both individually and in groups.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 2: Leadership
The ability to apply professional skills and behaviours in leading others.
<p>Level 1 - Students require directions and boundaries from mentor</p>
FedTASK 3: Critical Thinking and Creativity
The ability to work in complexity and ambiguity using imagination to create new ideas.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 4: Digital Literacy
The ability to work fluently across a range of tools and applications to achieve a range of skills.
<p>Level 1 - Students require directions and boundaries from mentor</p>
FedTASK 5: Sustainable and Ethical Mindset
The ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions.
<p>Level 1 - Students require directions and boundaries from mentor</p>
FedTASK
<p>Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FedTASKs (<strong>T</strong>ransferable <strong>A</strong>ttributes <strong>S</strong>kills and <strong>K</strong>nowledge) provide a targeted focus on five key, transferable Attributes, Skills, and Knowledge that are embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and co-operative learning opportunities.</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080300 - Business and Management
Offering:
<p><strong>Semester 1</strong><p>Melbourne City Campus (On Campus)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/budip1501">View unit fees</a>
Additional information
Add Info Static Text
Internal reference: BUDIP1501 - U2.3