Conduct a feasibility study of your new venture concept. Using relevant conceptual frameworks, critically discuss the view that entrepreneurs are the engines of innovation and creativity.
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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Mervyn Sookun
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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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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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In your role as a first-time entrepreneur, you have to plan your new business start-up and present your report to a team of academic staff and established entrepreneurs for further advice in a bid to secure funding from specialist institutions.
Your business plan needs to be comprehensive, covering the following tasks:
- Introduction (Approximately 200 words)
- Conduct a feasibility study of your new venture concept. Using relevant conceptual frameworks, critically discuss the view that entrepreneurs are the engines of innovation and creativity. (Approximately 500 words).
(LO1 & LO2)
- Conduct a competitive and STP analysis to critically explore the opportunity gap in the market, supporting your analysis with relevant data drawn from extensive market research. (Approximately 500 words). (LO3 & LO4)
- Drawing on Osterwalder’s business model canvass and Porter’s value chain, discuss your proposed business model and explain how and why you think your new venture will work. (Approximately 500 words) (LO5)
- Critically discuss the business and marketing strategies that entrepreneurs follow to find success. Explore the common mistakes that first-time entrepreneurs make. Also, discuss the strategies used for growth, consolidation and underperformance. (Approximately 500 words) (LO5)
- What are the financial techniques, planning tools and decision-making models that you could use to assess and mitigate your risks? (Approximately 600 words)
(LO6)
- Conclusions (Approximately 200 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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GENERIC ASSESSMENT CRITERIA
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Level 5
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In accordance with the Framework for Higher Education Qualifications, at the end of Level 5 students will be expected to have developed sound knowledge and critical understanding of the well-established concepts and principles in their field of study, and of the way in which those principles have developed. They will have learned to apply those concepts and principles more widely outside the context in which they were first studied, including, where appropriate, the application of those principles in an employment context. They will have knowledge of the main methods of enquiry in the subject area, and ability to evaluate critically different approaches to problem solving. They will possess an understanding of the limits of their knowledge, and how this influences their analyses and interpretations. They will be able to use a range of established techniques to initiate and undertake critical analysis of information, and to propose solutions to problems arising from that analysis. They will be able to effectively communicate information, arguments and analysis in a variety of forms to specialist and non-specialist audiences, and deploy key techniques of the discipline effectively. They will be able to undertake further training, develop existing skills and acquire new competences that will enable them to assume significant responsibility within organisations. They will have the qualities and transferable skills necessary for employment requiring the exercise of personal responsibility and decision-making.
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