The purpose of this assessment task is to:
- Develop a Business Plan which identifies, describes and analyses a business opportunity for a new entrepreneurial venture, examining its market, operating, and financial feasibility.
- Develop and present a convincing and well-motivated proposal for a loan or financial investment to potential funders.
The unit learning outcomes assessed are:
- LO#2: Critically interrogate and evaluate the literature on entrepreneurship and apply that understanding to interpret the steps in the successful trajectory of entrepreneurial ventures;
- LO#3: Integrate and deconstruct knowledge and learnings from a range of contexts and disciplines to conceptually map, apply and make recommendations for the management of innovation and entrepreneurship for a given organisational context;
- LO#4: Demonstrate accountability in autonomous and collaborative judgements and innovative strategic thinking in response to contemporary and future business/ professional challenges through working collaboratively on an innovative new venture; and
- LO#5: Design, formulate and present a business plan for a business venture grounded in a convincing innovation and entrepreneurial proposition.
ASSESSMENT STRUCTURE
The assessment task has two parts: a business plan and a pitch
PART 1: Business Plan (40%)
Entrepreneurs need to develop a Business Plan which identifies, analyses and describes how a new entrepreneurial venture will be created successfully from a business opportunity. The Business Plan will generally consist of (at least) the following:
- Description of the opportunity and business concept
- Analysis of the industry, market, customers, and competitors
- Description of the new venture
- Analysis and assessment of the market and a marketing plan
- Development of an operating plan
- Development, analysis, and assessment of financial projections
- Development of a loan, investment proposal
PART 2: The Pitch (10%)
Entrepreneurs often need to approach potential funders for financial support prior to the launch of a new venture. This presentation/pitch will generally consist of the following:
- Description of the entrepreneur and team
- Description of the opportunity, product or service, and what is new/unique about the product/service
- Description of the target market, customers, and how the customers will be acquired.
- Revenueand costs projections, and financial ratios (such as breakeven analysis)
- Funding proposal
INSTRUCTIONS
PART 1 – BUSINESS PLAN (40%)
-
- In Session7 you will be allocated to a group to work on Assessment 3
- In your group, brainstorm and formulate an innovative business idea
- Lay out your business concept in a business plan covering the following points:
- Persuasively present the opportunity/problem or gap you looking to address
- Description of the business concept
- Analysis of the industry, market, customers, and competitors
- Description of the new venture
- Analysis and assessment of the market and a marketing plan
- Development of an operating plan (Business Model)
- Development, analysis, and assessment of financial projections
- Development of a loan, investment proposal
- Use relevant sources to support your business concept and analysis
PART 2 – PITCH (10%)
-
- Using your business plan, prepare and present a pitch for funding
- Ensure your pitch contains the following information:
- Introduction
- Description of the entrepreneur and team (including Mission/vison of the firm)
- The problem/market opportunity
- Description of the solution: product or service, and what is new/unique about the product/service
- Description of the target market, customers, and how the customers will be acquired.
- Identify Key competitors
- Business Model
- Marketing Plan
- Revenue and costs projections, and financials.
- Funding proposal
- You can use PPT or any other suitable software
- Submit your Business Plan and your slides in the allocateddropbox on VU Collaborate.
- Use the following file naming conventions for your submission: Family name, first name, Assessment 3.
ASSESSMENT CRITERIA
The following levels of criteria will be used to grade this assessment task:
PART 1: DEVELOPMENT OF A BUSINESS PLAN FOR A NEW ENTREPRENEURIAL VENTURE (40%)
- Criterion 1: Coherent and logical description of the businessidea andnew venture (15%)
- Criterion 2: In-depth and detailed analysis of thebusinessidea background and context(industry, market, customers, and competitors) (35%)
- Criterion 3: Soliddevelopment, analysis, and assessment of financialelement (financial projections, loan, investment proposal) (35%)
- Criterion 4: Writing conventions (structure, style, clarity) and referencing (Harvard) (15%)
Access Part 1 RUBRIC HERE: for the full marking criteria. opens in new window
PART 2: PRESENTATION OF A PITCH FOR FUNDING (10%)
- Criterion 1: Organisation,summary of the business idea,clarityand strength of thepersuasive element and justification (40%)
- Criterion 2: Delivery, engagement with audience (including response to questions), and time management (20%)
- Criterion 3: Supporting material (slides) (20%)
- Criterion 4: Effective, cohesive teamwork (20%)
Access Part 2 Rubric Assessment 3 – Pitch opens in new window for the full marking criteria.