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
LSC UoS BA in Business
Assignment Brief
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Course/Programme:
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BA Business
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Level:
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5
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Module Title:
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Entrepreneurship and Business Development
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Module Leader:
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Assignment titles:
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Business Plan
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Assignment number:
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Weighting:
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100%
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Date given out:
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Jan 2021
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Submission date:
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Eligible for late submission (3 working days, with penalty)?
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Yes
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Method of submission:
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X
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Online only
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Online and paper copy
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Special instructions for submission (if any):
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Date for results and feedback:
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Employability skills assessed:
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C1: Reading, selecting, analysing and synthesising information from a range of sources
C2: Producing different types of document
C3: Participating in discussions
IT1: Preparing information
N3: Presenting your findings
S1: Plan personal work schedules
WWO2: Working towards identified targets
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Task
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Learning outcomes
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Coming up with a business idea and market entry strategies
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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
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Explain the rationale for launching the business
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LO2: Critically understand the nature of innovation and appreciate its role in entrepreneurial activity
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Review the industry and market with a clear demonstration of an understanding of the variables at work here including a macro/micro analysis of the market place.
An STP analysis (Segmentation, targeting and positioning) , providing market statistics (size and growth) to support your selection of the target segment/s. Who will buy this product and why? Vision and mission of business.
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LO3: Assess and critically comment upon the 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
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Provide a competitor analysis and highlight your competitive advantage
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LO4: Analyse the responses of entrepreneurial organisations as opposed to more predictable strategic approaches;
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Marketing strategy and market growth strategy
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LO5: Evaluate different strategies that are used by entrepreneurial organisations at start up, and during periods of growth, consolidation and underperformance;
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Financial plan, risk and mitigation strategies
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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;
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You are an inventor who has come up with a new idea for a technology based product or service. You are keen to take this idea forward into a startup business. For this product or service, write a business plan to set up the business in the future. The product or service must be innovative (a new product or an improvement to an existing product) and you are expected to develop this idea into a viable business model. It is important that you demonstrate that you understand the market in which you are operating.
The structure of the business plan will be as follows:
- The rationale for launching the business and its vision and mission (approximately 200 words)
- Review of the industry and market with a clear demonstration of an understanding of the variables in the external environment including a macro/micro analysis of the market place (approximately 400 words, with the macro/micro analysis being placed in the appendix)
- Competitor analysis and highlight the competitive advantage of your product or service. Explain the reasons why you think your product/service will be successful in this market. (approximately 400 words)
- Segmentation analysis, providing market statistics (size and growth) to support your selection of the target segment/s. Who will buy this product/service and why? (approximately 400 words)
- Marketing strategy, using the 4P’s (if it is a product) or 7P’s (if it is a service). (approximately 500 words, with the marketing mix analysis being placed in the appendix)
- Market growth strategy (approximately 400 words)
- Resources required for the venture including the source of finance (approximately 300 words)
- Risk analysis (using any model that you deem appopriate) and how those risks will be treated. (approximately 400 words)
Please be aware that all the word counts mentioned for the individual sections of your plan are provided as guidelines, which could vary depending on the individual plan.
3,000 words (+/- 10%)
Please note the following when completing your written assignment:
- Writing: Written in English in an appropriate business/academic style
- Focus: Focus only on the tasks set in the assignment.
- Document format: Report
- Ensure a clear title, course, and name or ID number is on a cover sheet and a reference using Harvard referencing throughout is also provided.
- 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.
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marking criteria and Student FEEDBACK
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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.
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Common Assessment Criteria Applied
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Marks available
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Marks
Awarded
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1. Research-informed Literature
Extent of research and/or own reading, selection of credible sources, application of appropriate referencing conventions.
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15%
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2. Knowledge and Understanding of Subject
Extent of knowledge and understanding of concepts and underlying principles associated with the discipline.
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20%
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3. Analysis
Analysis, evaluation and synthesis; logic, argument and judgement; analytical reflection; organisation of ideas and evidence
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25%
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4. Practical Application and Deployment
Deployment of methods, materials, tools and techniques; application of concepts; formulation of innovative and creative solutions to solve problems.
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30%
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5. Skills for Professional Practice
Attributes in professional practice: individual and collaborative working; deployment of appropriate media; presentation and organisation.
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10%
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- TOTAL
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100%
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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. )
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72 Hour Late Submission Penalties (tick if appropriate)
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