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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

SC 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;

 

TASK DESCRIPTION –

 

TASK


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

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