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LO2: Critically understand the nature of innovation and appreciate its role in entrepreneurial activity
2021-05-27T15:02:03+00:00
LSC UoS BA in Business
Assignment Brief
Course/Programme:
BA Business
Level:
5
Module Title:
Entrepreneurship and Business Development
Module Leader:
Assignment titles:
Business Plan
Assignment number:
Weighting:
100%
Method of submission:
X
Online only
Online and paper copy
Special instructions for submission (if any):
Date for results and feedback:
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
IT1: Preparing information
N3: Presenting your findings
S1: Plan personal work schedules
WWO2: Working towards identified targets
Task
Learning outcomes
Coming up with a business idea and market entry strategies
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
Explain the rationale for launching the business
LO2: Critically understand the nature of innovation and appreciate its role in entrepreneurial activity
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
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
Provide a competitor analysis and highlight your competitive advantage
LO4: Analyse the responses of entrepreneurial organisations as opposed to more predictable strategic approaches;
Marketing strategy and market growth strategy
LO5: Evaluate different strategies that are used by entrepreneurial organisations at start up, and during periods of growth, consolidation and underperformance;
Financial plan, risk and mitigation strategies
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;
Write a business plan for a business idea that you plan to set up in the future, or one that you or your family already owns. Whilst you do not have to follow any particular format, do not copy the content of the business plans available online. The idea must be your own business idea, which must have been approved in class after you have pitched it. The idea must be innovative (a new product, an addition to an existing product or taking an existing product to a new market) 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. You must at a minimum
Explain the rationale for launching the business
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
Provide a competitor analysis and highlight your competitive advantage. Explain why you think you will be successful in this market.
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
Marketing strategy (using the 4P’s or 7P’s if it is a service)
Market growth strategy
Resources required for the venture including the source of finance
Financial plan including forecasted financial statements for one year
Risk and mitigation strategies
3,000 words
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:
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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