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LO1: Understand and evaluate the concept of entrepreneurship, inter-relationship between entrepreneurship and innovation in business management, and the nature of the macro-environmental context for entrepreneurial activity

Assignment Brief

Course/Programme:

BA Business

Level:

5

Module Title:

Entrepreneurship

Module Leader:

 

Assignment titles:

  1. The Covid Challenge Business Plan (LOs 1to 6) 3000 words - 100%

Assignment number:

1

Weighting:

Business Plan - 100% of overall module grade.

Date given out:

April 2021

Submission date:

 

Eligible for late submission (3 working days, with penalty)?

Yes

Method of submission:

X

Online only

 

Online and paper copy

Special instructions for submission (if any):

N/A

Date for results and feedback:

TBA

Employability skills assessed:

C1: Reading, selecting, analysing and synthesising information from a range of sources

C2: Producing different types of document

C3: Participating in discussions

C4: Making presentations

LP1: Develop a strategy for using a range of skills to improve own learning and performance

IT1: Preparing information

IT2: Processing and presenting information

IT3: Reviewing the use of information technology

LP3: Evaluate overall effectiveness of strategy and present achievements

N1: Collecting and recording data

N2: Working with data

N3: Presenting your findings

PS1: Develop a strategy for using skills in problem solving, for a short-term routine problem and a longer term extended problem.

PS2: Monitor progress and adapt any problem solving strategy as necessary to achieve the quality of outcomes required when tackling one complex problem with at least three options.

PS3: Evaluate your overall strategy considered in PS2 and consider improvements.

S1: Plan personal work schedules

S2: Monitor and manage progress on prolonged tasks

S3: Review achievement of objectives and the effectiveness of your own self-management skills

WWO2: Working towards identified targets

 

 

 

 

Learning outcomes assessed:

LO1: Understand and evaluate the concept of entrepreneurship, inter-relationship between entrepreneurship and innovation in business management, and the nature of the macro-environmental context for entrepreneurial activity

LO2: Critically understand the nature of innovation and appreciate its role in entrepreneurial activity;

LO3: Assess and critically comment upon the personal factors that influence entrepreneurial activity in a range of different contexts; analyse on how entrepreneurial capacity can be developed, and evaluate the role that the development of a robust creative approach to learning capability has in the successful identification and implementation of entrepreneurial strategies

LO4: Analyse the responses of entrepreneurial organisations as opposed to more predictable strategic approaches;

LO5: Evaluate different strategies that are used by entrepreneurial organisations at start up, and during periods of growth, consolidation and underperformance;

LO6: Critically evaluate and reflect discursively upon the thinking and analytical techniques that can be used to identify opportunities, and recognise the alternative commercial approaches to exploiting an opportunity;

 

 

Learning Outcomes tested

(from module descriptor)

Assessment Criteria to achieve each outcome a student must demonstrate the ability to:

  1. Demonstrate an understanding on the key elements of the internal environment of organisations and the interaction with the external environment.

 

  • The essay task enables the student to demonstrate an understanding of how organisations make decisions based on the external environment. In this case, the impact that demand has had on prices of goods.
  1. Identify how a market economy functions and the role of government within it
  • The case study enables the student to demonstrate an understanding of how the market economy works and the principles of government that create the framework for it.
  1. Examine the economic environment within which businesses operate in the United Kingdom
  • In the essay the student is required to look at the market situation within the United Kingdom, with reference to a specific business environment.
  1. Examine the global business environment and explain why countries benefit from trade with each other.

 

  • The case study provides the student with the opportunity to look at the macro environment and at how specified countries are impacted by international economic scenarios.
  1. Understand the growing impact of the European Union on the businesses operating in the EU environment.
  • In the case study task, the student is expected to look at not just the UK environment, but also beyond, at the EU level, as to how the business environment operates in the 21st century.

 

 

TASK DESCRIPTION – ASSIGNMENT 1 (Individual essay 50%)

This assignment is testing your understanding of Los,1, 2 3, 4, 5 and 6 by apply in the to the question below. You are therefore required to write a report (Business Plan) based on the question provided. You will be assessed on your content, research / referencing, application of legal rules, entrepreneurial, analysis / application and presentation skills.

TASK


The Covid Challenge Business Plan

You have worked for over 10 years in a local bank when Covid-19 broke and this ultimately lead to you losing your job among several other staff members. Although a boring job with no real room for progression it was a job that offered you a secured income and lifestyle. Your Employer gave you a good severance package totalling £75K in redundancy payment. You have always considered yourself an Entrepreneur but without the necessary capital to launch one of your numerous ventures generated over the years. You believe it is now or never to take the plunge into the world of entrepreneurship. You have a niche venture you believe you can exploit especially during this pandemic period:

  1. Prepare a business plan for your proposed niche venture

Justify the idea by explaining the opportunity, demonstrate research and evidence of the market, analyse the industry, identify your product/service and your competitive advantage.

Prepare competitor analysis and describe how you will deliver your products and services in an operating plan. Identify risks and mitigate them. Calculate start-up costs and justify the viability of your idea by linking, your marketing activity, and your pricing strategy and cash flow requirements for the first year of trading.

You must support all content of your plan with relevant evidence which will be added in the appendices. The report must be fully supported by references to theory and evidence your wider reading in this unit.

The plan will be laid out in the format of a business plan. You can be creative and develop a ‘brand’ and use charts, images and graphs to highlight key elements of the report.

The typical contents of a business plan would usually include:

  • Executive summary
  • Table of contents
  • Business details
  • Location
  • Market / Industry analysis
  • Product/Service description
  • USP and Competitor analysis
  •  Operations Plan
  • Risk and Contingency plans
  • Sales and marketing strategy
  • Finance and funding plans
  • Management team – justifying your ability to lead and manage this venture
  • Appendices

These tasks address LOs 3, 4. 5 & 6

LENGTH REQUIRED

A maximum of 3000 words.

FORMATTING AND LAYOUT

Please note the following when completing your written assignment:

  1. Writing: Written in English in an appropriate business/academic style
  2. Focus: Focus only on the tasks set in the assignment.
  3. Document format: Essay
  4. Ensure a clear title, course, and name or ID number is on a cover sheet and a bibliography using Harvard referencing throughout is also provided.
  5. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive.

The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information. All referencing should be in Harvard style.

 marking criteria and Student FEEDBACK – ASSIGNMENT 1

This section details the assessment criteria. The extent to which these are demonstrated by you determines your mark. The marks available for each criterion are shown. Lecturers use a similar format to comment on the achievement of the task(s), including those areas in which you have performed well and areas that would benefit from development/improvement.

Common Assessment Criteria Applied

Marks available

Marks

Awarded

1. Research-informed Literature

Extent of research and/or own reading, selection of credible sources, application of appropriate referencing conventions.

 

 

Providing evidence of the appropriate reading/ references that form the basis of the insights in your essay.

10

 

 

2. Knowledge and Understanding of Subject

Extent of knowledge and understanding of concepts and underlying principles associated with the discipline.

 

 

Demonstrating familiarity with the selected concepts/ models used in your presentation.

20

 

 

3. Analysis

Analysis, evaluation and synthesis; logic, argument and judgement; analytical reflection; organisation of ideas and evidence

 

 

Demonstrating conceptual insights into the potential values of the selected academic concepts/ models.

20

 

 

4. Practical Application and Deployment

Deployment of methods, materials, tools and techniques; application of concepts; formulation of innovative and creative solutions to solve problems.

 

 

Applying your conceptual insights to successfully address the situations faced by your chosen organisation. Making recommendations for future plans and strategies.

30

 

 

5. Skills for Professional Practice

Attributes in professional practice: individual and collaborative working; deployment of appropriate media; presentation and organisation.

 

 

Quality of the presentation.

Potential effectiveness in terms of getting your messages across to your intended audience.

20

 

  1. TOTAL

100

 

 

Assignment Mark (Assessment marks are subject to ratification at the UoS Assessment Board.  These comments and marks are to give feedback on module work and are for guidance only until they are confirmed. )

72 Hour Late Submission Penalties (tick if appropriate)

%

 


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