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Write an essay in which you conduct a PEST analysis on the UK macro environment and identify relevant skills and traits which could help entrepreneurs navigate their way through.


Programme:

BA Business Management

Module:

Entrepreneurship

Module code:

LCBB5001

Contribution to Overall Module

Assessment (%):

50%

Lecturer:

 

Internal Verifier:

 

Assignment Title:

Assessment 1

Word count (or equivalent):

2000 words

Submission deadline:

To be announced by the Assessment team- Please refer to the assessments schedule published on Students’ Hall in Moodle

Return date of provisional marks & written feedback:

After the Exam Board

Submission method:

All written assessments, where practical and possible, must be submitted via Turnitin unless otherwise instructed by the Lecturer. (Please DO NOT put this assessment specification into Turnitin or it will match many similarities with other students’ submissions.)

Alternative submission method (if applicable):

Late submission of the assessment will result in a late penalty mark. Penalties for late submission: Up to one week late, maximum mark of 40%. Over one week late, 0%. Only the Extenuating Circumstances Panel may approve a change to submission dates.

Academic honesty / referencing:

Academic honesty is required. In the main body of your submission, you must give credit to authors on whose research and ideas your work is based. Append to your submission a reference list that indicates the books, articles, etc. that you have used, cited or quoted in order to complete this assessment.

Assessment Component 1 – Essay (50%)

The business landscape is rapidly changing due to the rise of technology, a reality that has been reiterated by the effects of Covid-19. Entrepreneurs have been thrown into more competitive environments against large corporations with huge financial and intellectual resources. To remain resilient and thrive in the post Covid-19 world, entrepreneurs must possess certain traits and skills that distinguish them from the rest of the work force.

Write an essay in which you conduct a PEST analysis on the UK macro environment and identify relevant skills and traits which could help entrepreneurs navigate their way through. Listen to the recording of our guest entrepreneur on Moodle – Faiza J; where she identified skills and traits that enabled her to successfully launch a business in the UK. Examples should be drawn from our guest and other entrepreneurs for the purposes of this assessment.

NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.

1. Engagement with Literature Skills

Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set. You should provide evidence that you have accessed an appropriate range of sources, which may be academic, governmental, and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current and up-to- date, mostly published within the last five years or so, though seminal/important works in the field may be older. You must provide evidence of your research/own reading throughout your work, using a suitable referencing system, including in-text citations in the main body of your work and a reference list at the end of your work.

Guidance specific to this assessment: At least 10 references need to be cited.

2. Knowledge and Understanding Skills

At level 5, you should be able to demonstrate: sound knowledge and critical understanding of the well- established concepts and principles of the subject area and the way in which those principles have developed; knowledge of the main methods of enquiry in the discipline. Knowledge relates to the facts, information, and skills you have acquired through your learning. You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. You should be able to explain the theories, concepts, etc. meaningfully to show your understanding. Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding.

Guidance specific to this assessment: An understanding of the difference between traits and skills and their role in establishing a successful entrepreneurial venture.

3. Cognitive and Intellectual Skills

You should be able to critically analyse information, and propose solutions to problems arising from that analysis, including the critical evaluation of the appropriateness of different approaches to solving problems. Your work must contain evidence of logical, analytical thinking, evaluation, and synthesis. For example, to examine and break information down into parts, make inferences, compile, compare information. This means not just describing what! But also justifying: Why? How? When? Who? Where? At what cost? At all times, you must provide justification/evidence for your arguments and judgements. Evidence that you have reflected upon the ideas of others within the subject area is crucial to you providing a reasoned and informed debate within your work. Furthermore, you should provide evidence that you are able to make sound judgements and convincing arguments using data and concepts, with an understanding of the limits of knowledge, and how this influences analyses and interpretations. Sound, valid conclusions are necessary and must be derived from the content of your work. Where relevant, alternative solutions and recommendations may be proposed.

Guidance specific to this assessment: A critical analysis of entrepreneurial traits and skills with regards to how they help in navigating the macro environment.

4. Practical Skills

At level 5, you should be able to use/deploy a range of established techniques within the discipline and apply underlying concepts and principles outside the context in which they were first studied, including, where appropriate, the application of those principles in an employment context. You should be able to demonstrate how the subject-related concepts and ideas relate to real world situations and/or a particular context. How do they work in practice? You will deploy models, methods, techniques, and/or theories, in that context, to assess current situations, perhaps to formulate plans or solutions to solve problems, or to create artefacts, some of which may be creative. This is likely to involve, for instance, the use of real-world artefacts, examples and cases, the application of a model within an organisation and/or benchmarking one theory or organisation against others based on stated criteria. You should show awareness of the limitations of concepts and theories when applied contexts.

Guidance specific to this assessment: The practical application of the guest-entrepreneur presentation to the assessment, thereby establishing a link between theory and practice. Some illustration of real-life entrepreneurs who have used their personal traits and skills in navigating the macro environment would also be an added advantage

5. Transferable Skills for Life and Professional Practice

Your work must provide evidence of the qualities and transferable skills necessary for employment requiring the exercise of personal responsibility and decision-making. This includes demonstrating: professional development to advance existing skills and acquire new competences that will enable you to assume significant responsibility within organisations; that you can initiate and complete tasks and procedures, whether individually and/or collaboratively; that you can use appropriate media to effectively communicate information, arguments and analysis in a variety of forms to specialist and non-specialist audiences; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be coherent and well- structured in presentation and organisation.

Guidance specific to this assessment: An essay is required, 2000 words, with appropriate referencing and headings

This section details the extent to which the assessment criteria are demonstrated by you, which in turn determines your mark. The marks available for each category of skill are shown. Lecturers will use the space provided 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. Write an essay in which you conduct a PEST analysis on the UK macro environment and identify relevant skills and traits which could help entrepreneurs navigate their way through. Listen to the recording of our guest entrepreneur on Moodle – Faiza J; where she identified skills and traits that enabled her to successfully launch a business in the UK. Examples should be drawn from our guest and other entrepreneurs for the purposes of this assessment.

 

Generic Assessment Criteria

Marks available

 

Marks awarded

1. Engagement with Literature Skills

.

20

 

 

 

 

2. Knowledge and Understanding Skills

20

 

 

 

 

3. Cognitive and Intellectual Skills

20

 

 

 

 

4. Practical Application Skills

20

 

 

 

 

5. Transferable Skills for Life and Professional Practice

20

 

 

 

 

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

Late Submission Penalties (tick if appropriate)

 

%

Up to 1 week late (40% Max)

 

Over 1 week late (0%)

 

Level 5

FAIL

MARGINAL FAIL

SATISFACTORY

(3rd / Pass)

GOOD

(2.2 / Pass)

VERY GOOD

(2.1 / Merit)

EXCELLENT

(1st / Distinction)

EXCEPTIONAL

(1st / Distinction)

Category

0-29%

30-39%

40-49%

50-59%

60-69%

70-84%

85-100%

Engagement with literature (including reading, referencing,

academic conventions and academic

honesty)

Little or no evidence of reading and/or reliance on inappropriate sources.

Views and findings mostly unsupported and non- authoritative.

Referencing conventions used incoherently or largely absent.

Poor engagement with essential reading. No evidence of wider reading. Reliance on inappropriate sources, and/or indiscriminate use of sources. Heavily reliant on information gained through class contact. Inconsistent and

weak use of referencing.

Engagement with a limited range of mostly relevant and credible sources. Some omissions and minor errors.

Referencing conventions evident though not always applied accurately or consistently.

Engagement with an appropriate range of literature, including sources retrieved independently. Some over- reliance on texts. Referencing may show minor inaccuracies or inconsistencies.

Engagement with a wide range of literature, including sources retrieved independently. Selection of relevant and credible sources. Very good use of referencing, with no/very few inaccuracies or inconsistencies.

Engagement with an extensive range of relevant and credible literature.

Consistently accurate application of referencing.

Exceptional engagement with an extensive range of relevant and credible literature. High- level referencing skills consistently applied.

Knowledge and understanding

(Sound knowledge and

Major gaps in         Fragmentary

knowledge with      knowledge, with unsatisfactory,      only superficial uncritical     critical understanding of                             understanding.

Limited but

adequate knowledge and critical understanding of

Knowledge is

reasonably detailed and accurate. A good critical

Knowledge is

reasonably extensive. Exhibits very competent

Excellent,

detailed knowledge and highly critical understanding of

Exceptionally

detailed knowledge and outstanding critical

Level 5

FAIL

MARGINAL FAIL

SATISFACTORY

(3rd / Pass)

GOOD

(2.2 / Pass)

VERY GOOD

(2.1 / Merit)

EXCELLENT

(1st / Distinction)

EXCEPTIONAL

(1st / Distinction)

Category

0-29%

30-39%

40-49%

50-59%

60-69%

70-84%

85-100%

critical

the subject matter. Much irrelevant material.

Substantial inaccuracies. Significantly flawed understanding of the main methods of enquiry in the discipline.

Some significant inaccuracies and/or irrelevant material.

Incomplete or partially flawed understanding of the main methods of enquiry in the discipline.

the well- established concepts and principles within the subject area, with a few gaps in the selection of material. A narrow critical understanding of the main methods of enquiry.

understanding of the well- established concepts and principles and the main methods of enquiry, with minor gaps in the selection of material.

critical understanding of the well- established concepts and principles of the subject and the main methods of enquiry.

Breadth and depth of knowledge.

the well- established concepts and principles of the subject and the main methods of enquiry.

understanding of the well- established concepts and principles of the subject and the main methods of enquiry. May go beyond established theories.

understanding of

the well-

established

concepts and

principles in their

field of study;

knowledge of the

main methods of

enquiry in the

discipline.)

Cognitive and intellectual skills

(Critical evaluation and analysis of concepts and principles; argument and judgement; the limits of their knowledge, and how this influences their analyses and interpretations.)

Wholly or almost wholly descriptive work. Little or no critical evaluation and analysis of concepts and principles.

Failure to develop arguments, leading to illogical or invalid judgements.

Unsubstantiated generalisations or opinion, made without use of any credible evidence.

Largely descriptive work, with superficial use of critical evaluation and analysis of concepts and principles. Weak development of arguments and judgements.

Information accepted uncritically, uses generalised statements made with scant evidence and unsubstantiated opinions. Ideas sometimes illogical and contradictory.

Limited attempt at critical evaluation and analysis of concepts and principles, tending towards description.

Some evidence to support arguments and judgements but these may be underdeveloped, with a little inconsistency / mis- interpretation or failure to fully recognise limits of knowledge.

Some critical evaluation and analysis of concepts and principles, though descriptive in parts.

An emerging awareness the limits of their knowledge and ability to use evidence to support the argument though with some tendency to assert/state opinion rather than argue on the basis of reason and evidence.

Mostly valid arguments and logical judgements.

Sound critical evaluation and analysis of concepts. Is selective in the range of evidence used and synthesises rather than describes. Ability to devise arguments that show awareness of different stances, and use evidence convincingly, to support appropriate and valid judgements.

Excellent critical evaluation and analysis of concepts and principles leading to logical, evidence-based, reasoned arguments and judgements.

Explicit recognition of other stances and a strong awareness of the limits of their knowledge.

A capacity for independent thought and ability to ‘see beyond the question’, suggesting some grasp of the

broader field and wider concepts.

Outstanding critical evaluation and analysis of concepts and principles. Uses evidence exceptionally well to connect ideas, and support highly logical and persuasive, arguments and judgements.

Evidence of independent thought and ability to ‘see beyond the question’, suggesting a clear grasp of the broader field and wider concepts.

Perceptive recognition of

 

Level 5

FAIL

MARGINAL FAIL

SATISFACTORY

(3rd / Pass)

GOOD

(2.2 / Pass)

VERY GOOD

(2.1 / Merit)

EXCELLENT

(1st / Distinction)

EXCEPTIONAL

(1st / Distinction)

Category

0-29%

30-39%

40-49%

50-59%

60-69%

70-84%

85-100%

 

 

 

 

 

 

 

the limits of their knowledge, and how this influences their analyses and interpretations.

Practical skills (Apply underlying concepts and principles more

widely outside the context in which they were first studied; use a range of established techniques; propose solutions to problems arising from analysis.)

Limited or no use of established methods, materials, tools and/or techniques.

Little or no appreciation of the context of the application. Limited understanding of the application of theory to practice or making appropriate links between the two. Very weak problem-solving skills outside the context in which they were first studied.

Rudimentary application of established methods, materials, tools and/or techniques but without consideration and competence.

Flawed appreciation of the context of the application. Weak understanding of the application of theory to practice, with only occasional evidence of making appropriate links between the two. Weak problem- solving skills outside the context in which they were first studied.

An adequate awareness and mostly appropriate application of established methods, materials, tools and/or techniques.

Basic appreciation of the context of the application. Theoretical knowledge and understanding applied in practice, but not always making logical links between the two. Can identify problems and propose basic solutions outside the context in which they were first studied.

A good and appropriate application of established methods, materials, tools and/or techniques.

Clear appreciation of the context of the application. Mainly consistent, accurate and logical application of theory to practice, making appropriate links between the two. Can identify problems and propose mostly appropriate solutions outside the context in which they were first studied.

A very good application of a range of established methods, materials, tools and/or techniques.

Very good consideration of the context of the application, with perceptive insights.

Consistent, accurate and logical application of theory to practice, making appropriate links between the two. Can identify problems and propose appropriate solutions outside the context in which they were first studied.

Evidence of some creativity.

An advanced application of a range of established methods, materials, tools and/or techniques.

The context of the application is well considered, and insightful.

Consistent, accurate and logical application of theory to practice, making well-developed links between the two. Can identify problems and propose excellent, creative solutions outside the context in which they were first studied.

Exceptional levels of application and deployment skills using established methods, materials, tools and/or techniques.

Consistent, accurate and logical application of theory to practice, making highly developed links between the two. Can identify routine and non-routine problems and propose quite sophisticated, creative solutions outside the context in which they were first studied.

Transferable skills for life

Communication medium is

Communication medium is poorly

Can communicate in

Can communicate

Can communicate

Can communicate

Can communicate

 

Level 5

FAIL

MARGINAL FAIL

SATISFACTORY

(3rd / Pass)

GOOD

(2.2 / Pass)

VERY GOOD

(2.1 / Merit)

EXCELLENT

(1st / Distinction)

EXCEPTIONAL

(1st / Distinction)

Category

0-29%

30-39%

40-49%

50-59%

60-69%

70-84%

85-100%

and professional practice

(Effectively communicate in a variety of forms

to specialist and non-specialist audiences; the qualities and transferable skills necessary for employment requiring the exercise of personal responsibility and decision-making.)

inappropriate or misapplied.

Work is poorly structured, disorganised and/or confusingly expressed. Very weak use of language and/or very inappropriate style. Failure to work effectively as part of a group. Little or no evidence of the skills for employment requiring the exercise of personal responsibility and decision- making.

designed and/or not suitable for the audience.

Work is poorly presented in a disjointed manner. It is loosely, and at times incoherently, structured, with information and ideas often poorly expressed.

Weak use of language and/or inappropriate style. Flawed approach to group work, meeting only partial obligations to others. Limited evidence of the skills for employment requiring the exercise of personal responsibility and decision- making.

a suitable medium for the audience but with some room for improvement. Mostly ordered presentation and structure in which relevant ideas / concepts are reasonably expressed. Work may lack coherence in places. Can work as part of a group, meeting most obligations to others but perhaps with limited involvement in group activities. Demonstrates the basic skills for employment requiring the exercise of personal responsibility and decision- making, with some areas of minor weakness.

effectively in a suitable medium for the audience, but may have minor errors.

Mostly coherent, organised work, in a suitable structure and is for the most part clearly expressed. Can work effectively independently and/or as part of a team, with clear contribution to group activities. Demonstrates the skills for employment requiring the exercise of personal responsibility and decision- making, with some areas of strength and some of minor weakness.

well, confidently and consistently in a suitable medium for the audience.

Work is coherent, fluent, well-structured and organised. Can work very well autonomously and/or as part of a team, with very good contribution to group activities. Demonstrates very good skills for employment requiring the exercise of personal responsibility and decision- making, with just occasional minor weakness.

professionally confidently and consistently in a suitable medium for the audience. Work is coherent, very fluent and is presented proficiently. Can work autonomously with initiative.

Where relevant can work professionally within a team, showing leadership skills as appropriate, and meeting obligations.

Demonstrates excellent skills for employment requiring the exercise of personal responsibility and decision- making and an appetite for further development.

with an exceptionally high level of professionalism, highly suitable for the audience. Work is exceptionally coherent, very fluent and is presented professionally.

Can work exceptionally well within a team, showing leadership skills. Demonstrates exceptional skills for employment requiring the exercise of personal responsibility and decision- making and an appetite for further development.

 


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