Level 5 Diploma in IT-Web Design 

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Assignment Question

Task 1 – 700 words
Assess the nature of technological entrepreneurship
1.1 Give an example of a trending techno entrepreneur and describe the techno entrepreneurial process and in that context. Evaluate its characteristics and opportunities in the verticals of Organizational, External and Individual factors (1.1, 1.2)
1.2 Complete the table below by providing minimum 2 examples under each (1.3)

Assessment Criteria
1.1 Evaluate the characteristics of techno entrepreneurs and the techno entrepreneurial process
1.2 Evaluate trends and opportunities within technological entrepreneurship
1.3 Analyse the features and application of the five pillars of technological entrepreneurship

Task 2 – 700 words
Establish a new techno business
2.1 : Explain how techno entrepreneurs opened up the market for new products and services (2.1)
2.2: What are the actions & measures that can be taken to ensure intellectual property? (2.2)
2.3: Suggest a trending technological business and explain how you can structure it to optimize assets, investment and ownership. Give a business and marketing plan defining SMART objectives optimizing current resources (2.3,2.4, 2.5)

Assessment Criteria
2.1 Evaluate the potential for new products or services and new potential markets for them
2.2 Take action to protect intellectual property that is appropriate to the nature of the business
2.3 Structure the business in a way that optimizes assets, investment and ownership
2.4 Prepare a business and marketing for a new techno business that sets SMART objectives and optimizes available resources
2.5 Market the business in accordance with the marketing plan

Task 3 – 600 words
Evaluate the rationale for businesses’ creation, delivery and capture of value
3.1 : Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. How can you use this for the example you provided in the question 2.3 and state what are the strengths and weaknesses (3.1)
3.2 : Assuming due to business failure you want to exit the business. State which exit method you will take and justify your answer comparing other exit methods (3.2)