1.1 Critically analyse the nature, characteristics and challenges of establishing different kinds of enterprise.

ENTREPRENEURSHIP AND INNOVATION

Unit Aims

The aim of this unit aim is to introduce learners to the basics of business processes and strategies related to enterprise and entrepreneurship, developing knowledge of enterprise and entrepreneurship in global contexts.

Learning Outcomes and Assessment Criteria

Guidance

There is no scenario for this assignment, you are yourself and need to show entrepreneurship skills.

Task 1 of 3 – Business Idea Pitch and Report (AC 1.2 and 1.3)

Instructions:

You are to propose three business ideas for this assignment which could then be explored further in a presentation and report to your class or tutor. To develop this pitch and report you must apply relevant theoretical concepts, models, relate with real world example of your chosen context and critically analyze your arguments and arrive at justifiable recommendations.

1. Review what make a successful commercial or social entrepreneur and evaluate your own skills and attributes in that area.

2. Propose the three business ideas and assess the challenges that goes with each of them.

Delivery and Submission:

• 1x Presentation file with speaker notes (500 words)

• 1x Report (500 words) excluding TOC, diagrams, references and appendices

Task 2 of 3 – Business plan (AC 3.1, 3.2, 3.3, 4.1 and 4.2)

Instructions:

Analyse the three business ideas and select the one that is most likely to succeed and create a business plan (including marketing and financing). . To develop this report you must apply relevant theoretical concepts, models, relate with real world example of your chosen context and critically analyze your arguments and arrive at justifiable recommendations.

You should produce a business plan in which you should:

• Summarise and analyse the selected business idea.

• Analyse the production and marketing feasibility for the selected idea.

• Produce business planning forecast using financial techniques.

• Produce a marketing plan.

• Develop a control and monitoring mechanism for the business plan.

Delivery and Submission

• 1x Business Plan (3000 words) excluding TOC, diagrams, references and appendices

Task 3 of 3 – Reflections (AC 1.1, 2.1, 2.2 and 2.3)

Instructions:

You should now reflect on entrepreneurship based on this experience and using the appropriate literature.

Your reflections should:

• Critically analyse the nature, characteristic and challenges of establishing different kind of enterprise and how you individually as a future manager could encourage creativity, innovation and changes.

• With reference to one or more organisations, identify potential creative and innovative management ideas that could contribute to encourage creativity in the organisation.

Delivery and Submission

• 1x Reflections MS Word document (500 words) excluding TOC, diagrams, references and appendices