BUS5008: Business Entrepreneur Part II Final Report

BUS5008: Business Entrepreneur Part II Final Report

Using the same business as you did for part 1, an existing business which meets the following criteria;

Learning outcomes and assessment criteria specific to this assignment:

Learning outcomes:
1. Critically evaluate how traits and organisational size influence successful business activities of an entrepreneur within the SME context.
2. Research a market opportunity and develop a set of appropriate business actions for an SME.
3. Reflect on the suitability of (and critique a set of) business actions for real life business situations.
4. Reflect upon your own business skills & entrepreneurial traits

Assessment
Using the same business as you did for part 1, an existing business which meets the following criteria;
• SME (Small or Medium sized business of up to 249 employees)
• Based within the West Midlands (or with a local presence)
• Has been trading for at least 2 years
• Operates within the Technology, Health, Creative, Hospitality or Social sector

Prepare a group report of 4,000 words in total recommending that the business takes action to capitalise on a new, emerging market opportunity.
The report should also include some reflection upon decisions made as a group as well as the rationale for those decisions. Each member of the group is to reflect on their own entrepreneurial skills.

Assessing Learning Outcomes 1, 2, 3 and 4.

In this part of the assessment, as a group you are required to:
• Evaluate the business development opportunity presented in Part 1 of the assessment and to develop a business case for capitalising on the opportunity.
• Individually reflect on your personal entrepreneurial attributes.

The group report must include:

Introduction

• Provide a brief introduction to the business, its existing products / services, market(s) and background
• Provide an overview of the new opportunity
Undertake an industry analysis

• Undertake a SWOT analysis of the chosen business
• Analyse the industry using relevant tools (such as PESTEL & 5 Forces)
The new Product / Service / Opportunity

• Undertake market segmentation and provide a profile of the target market
• Suggest a marketing strategy outline (with some explanation of the rationale for the chosen channels)
• Provide pricing details and the rationale for the chosen price point
• Include details of group discussions
Financing the Project

• Outline how much funding is required and how that money will be spent
• Provide sales projections for the first 3 years including assumptions
• Evaluate the technological and financial feasibility of the proposed actions
• Include details of group discussions
Risks & Benefits

• Provide details of perceived risks along with mitigation strategies where applicable
• Explain how will the business benefit from capitalising on the opportunity (for example increased market share, increased sales revenues)
• Include details of group discussions

This element and the above group report should be of 2,800 words in total.

Group and individual reflections
In the group reflection you are required to report on how decisions were made. Your reflections should be included in the group report.
You will also be required to reflect on your individual skills, attitudes, knowledge and behaviour in relation to working as a business owner / manager and / or consultant / analyst:

• Consider your personal traits and career ambitions (include test results from any personality / entrepreneurial tests undertaken)
• The reflections should be a total of 1,200 words (for all group members combined) and the outcome of the group work should be a well-illustrated and evidenced report submitted online to Moodle

Peer assessment is part of the assessment strategy:

• Students need to decide if all group members are to receive 100% of the grade or if one or more group members should receive less (as low as 50%).
The word guide is 4000 words for the whole report, excluding references and appendices. You are required to use at least 10 academic journal articles in the report, plus any other textbooks and other sources as you see fit.

 

Prepare a group report of 4,000 words in total recommending that the business takes action to capitalise on a new, emerging market opportunity.

The report should also include some reflection upon decisions made as a group as well as the rationale for those decisions. Each member of the group is to reflect on their own entrepreneurial skills.

 

Assessing Learning Outcomes 1, 2, 3 and 4.

 

In this part of the assessment, as a group you are required to:

• Evaluate the business development opportunity presented in Part 1 of the assessment and to develop a business case for capitalising on the opportunity.
• Individually reflect on your personal entrepreneurial attributes.