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BUSI22700 DIGITAL ENTREPRENEURSHIP ASSESSMENT

BUSI22700

DIGITAL ENTREPRENEURSHIP ASSESSMENT BRIEF

The assignment is an individual report (100%) which is based on a market research relating to the use of websites and/or Apps in a country outside the UK. You must find a profitable niche and develop a business idea around this area. It is up to you on how you might make revenue out of this market. Remember that the UK must NOT be your start-up country or headquarters. A conceptualisation of the assignment process is seen within the figure below.

You are expected to collect relevant information/data to develop a feasible business idea within one of the allocated industries. Using appropriate theory and academic evidence to support your analysis will gain higher marks; not providing theory or evidence is a guaranteed way to attain a low grade!  You are welcome to incorporate theories, models and findings from wider reading.

Allocated Industries

1 Online learning

2 Online working

3 Entertainment

4 Investment

 

Report Submission Deadline

Structure

Business Model Canvas is a strategic management tool for developing new or documenting existing business models. It includes 9 areas: key activities, value proposition, customer relationships, customer segments, revenue, channels, key resources, costs structure and key partners. You are required to demonstrate your understanding of key areas in this report. The questions outlined below are included to help your thinking. The word count for each section is likely to differ depending upon your business ideas and understanding.

This report assesses learning outcomes (a), (b), (c), (d), (e), (f) and (g) from the module specification (the module handbook).

Executive summary

You should provide a condensed version of the report, enabling the readers to understand the full content by reading it. Please explain your business idea and highlight Unique Selling Points.

1 Introduction

Briefly introduce your company’s background, the aims, and the structure of the report.

2 External environment and industry analysis (PESTEL & 5FORCE)

You must use PESTEL and Porter’s 5 Force to analyse the industry’s external environment, profitability and competitive intensity. Please focus on the most important factors (No need to address all factors).

  • Is there a trend changing the industry’s structure (e.g. Covid-19, trade war, new technology)? Is the industry consolidating?
  • How is this industry’s current competitions and profitability?
  • Any existing players? who are they?
  • What do they offer customers? what are their strength & weaknesses?
  • Any barrier for new players?

3 Customer segmentation and value proposition (Value Proposition Canvas)

You must identify your customer segments and use the Value Proposition Canvas model to understand their needs, as well as designing the products and services.

  • Who are your customers? What methods are you using to segment customers?
  • What unmet or under-served needs are there?
  • How do your proposed value propositions meet the needs of customer segments?
  • What products and services are you offering to each customer segment?
  • What technologies are you going to use to deliver the value? (website/apps/virtual reality/ augmented reality/cloud computing/big data…)

4 Business strategy (Bowman’s Strategic Clock)

It is essential for companies to gather information on their market position in relation to their competitors. You must choose an appropriate position from the Bowman’s Strategic Clock, which offers the most competitive advantages, and explain your reasons.

5 Digital marketing

Identify how you intend to communicate value to potential customers.

  • How are you acquiring new customers and maintaining a relationship with them?
  • How do you integrate traditional marketing with digital marketing?
  • How can you use digital communications & media to differentiate the products/ services?
  • How are you advertising your business?
  • How are you encouraging repeat business, if possible?

6 Revenue streams

You may need to make ‘reasonable estimations’ when designing the revenue streams.

  • How are you going to generate revenue? (e.g. product/service sale, transaction fee, sponsorship fee, subscription fee, income from CPM/CPC/CPA…)
  • How many products and services are you going to sell (and on what timescale)?
  • How much does each revenue stream contribute to the overall revenues?
  • What are the advantages and drawbacks?

Some useful information about CPM, CPC, CPA, Click Through Rate and Conversion Rate:

https://www.acquisio.com/blog/innovation/google-adwords-industry-benchmarks-2018-infographic/   

https://www.wordstream.com/blog/ws/2016/02/29/google-adwords-industry-benchmarks

 

7 Website/App interface design

You must design a website/App interface for your business. You are required to explain the interface design, using theories/frameworks from the module (e.g. Nielsen’s 5 quality components, Krug’s 7 factors, Rayport & Jaworski’s 7C framework) or wide reading. You may use the following free websites to design the interface.

 

7 Other Considerations

You should clearly outline other factors which you think are essential in this section. E.g. key partners/ key resources/ key activities/ organisation structure/ potential issues.

 

8 Conclusion

Formatting and layout

  • Report structure: https://unilearning.uow.edu.au/report/4b.html
  • Document type: Microsoft Word or PDF file
  • Paper size: A4, Font: size 12, headings can be in bold but no underlining please
  • Paragraph format: fully justified with 1½ line spacing
  • Title page: please use ‘NBS Course Work Front Cover’
  • Word count: Maximum 3000, excluding executive summary, table of contents, tables, figures, references and appendices.
  • Reference: Harvard Style. References should be listed in full at the end of the report in alphabetical order.
  • Avoid 1st and 2nd person in the report.

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