Entrepreneurial Business Model And Launch

This subject is available under ICMS undergraduate degrees, please click the button below to find an undergraduate course for you.

Subject Code:

ENT202A/ENT202B

Note: Both A and B code subject versions are displayed as they are approved equivalent in content, assessments and learning outcomes. As ICMS courses are reaccredited, the subject is updated to a B-code suffix. Students studying a Bachelor of Business, Bachelor of Business (Sports Management), Bachelor of Business (Entrepreneurship and Innovation), Bachelor of Business (Marketing), Bachelor of Business (International Tourism) and Bachelor of Hospitality Management will be enrolled in ENT202B in 2027. Students enrolled in all other courses at ICMS with this subject will complete ENT202A. This arrangement applies to the nested Diploma qualifications of these courses also.

Subject Rationale:

ENT202A

The purpose of this subject is to define and identify aspects of a strong business model. Entrepreneurs who have considered legal ramifications of their business before it is launched are already protecting their intellectual property effectively. Students will consider how to organise and cultivate their business operations and talent when it is early in its inception. Students will examine the impact finances and managing risk effectively will have on the growth of a business.

The subject material ranges from customer discovery and design thinking, to rapid prototyping (of both offers and business models), bootstrapping methods and communicating/selling the vision for a new venture.

A major goal of the subject is to enable students to articulate the elements that go into a viable business model and to prepare them to successfully present a meaningful and holistic business proposition.

This subject focuses on preparing businesses for launch. Class sessions will cover go-to-market and unit economic models, alternative financing strategies, preparing and delivering effective presentations and other topics relevant to launching high-growth businesses.

Students will also meet individually with the lecturer to discuss their progress toward launch, address issues and obstacles, and identify resources, mentorship opportunities and potential partners. Support is provided via student and class collaboration, faculty mentoring and access to industry experts.

ENT202B

This subject takes students on the full learning journey of building an entrepreneurial business from the ground up. Applying different models of design strategy, students will undertake practical exercises to discover (research and validate the problem), define (synthesise the problem), develop (ideate potential solutions), and deliver (design and prototype to pitch).

Throughout this process, students will conceptualise a nuanced business model for their enterprise. This model, built on the Business Model Canvas Framework, will require students to identify their business’: unique value proposition, financial viability, mechanisms to attract and retain customers and more.

A major goal of the subject is to enable students to articulate the elements that go into a viable business model and to prepare them to successfully present a meaningful and holistic entrepreneurial business pitch. This subject focuses on preparing businesses for launch. Class sessions will cover economic models, alternative financing strategies, preparing and delivering effective presentations and other topics relevant to launching high-growth businesses.

Learning Outcomes:

ENT202A

a) Deconstruct a business model.
b) Outline the mission of a business and the value propositions of its products and services.
c) Select the necessary resources to carry out a business launch.
d) Examine the legal and risk implications of launching a business.
e) Demonstrate lean methods in launching a minimum viable prototype (MVP).

ENT202B

a) Evaluate customer research findings to identify a business problem and inform the development of an entrepreneurial business model.
b) Examine business models based on insights derived from customer research.
c) Explain the application of design strategy (Double Diamond) and lean strategy methods to develop an innovative solution to a complex business problem.
d) Apply teamwork and collaboration skills to launch a minimum viable product (MVP) and present a professional pitch for the final solution.
e) Analyse broad theoretical and technical business knowledge and real-world problems within entrepreneurial contexts.

Student Assessment:

Note: (G) = Group assessment