ASSESSMENT TASKS-
Assessment 1: CASE Study - ENTREPRENEUR
Objective - The objective of this project is to examine the process of entrepreneurship. In particular, the focus in this assignment is on the interaction between new ventures, their founders, associated resource requirements and the environmental considerations that affected the success of an entrepreneur.
Tasks -
1. Form a group of 4-6 students.
2. Select an entrepreneur who has had significant success with at least one new venture. Address the following questions:
i) How was the opportunity identified?
ii) How did the entrepreneur make it happen? (Outline their approach, personal attitudes and behaviour towards the new venture),
iii) What were the most important elements of the entrepreneur's business plan? Which elements were critical to the venture's success?
iv) What lessons did he or she learn in the entrepreneurship process?
3. Note: these questions can be answered by interviewing an entrepreneur and/or by using business literature.
Assessment 2: CASE Study - Innovation and Business
Objective - The objective of this assignment is to require students to apply the models, techniques and processes studied in this subject to a business plan for innovation.
Tasks - Each group is required to complete a business plan report of up to 1500 words.
1. Form a group of 4-6 students.
2. Drawing mainly on the techniques of the value proposition and value curve innovation, identify the following questions:
- The company's present value proposition
- Plot the company's value proposition on a value curve
3. Drawing on your understanding gained from section 2 above, and subsequent analysis and discussion, develop:
- A new value proposition for the company ; apply the ERRC (eliminate, reduce, raise and create)
- Plot the new value proposition on a value curve
- An explanation of how this innovation would enhance the 'day in the life of the customer'
- An overview of how this innovation could be delivered profitably
Note: assessment is based on evidence of the group's application of the innovation techniques and tools explored in this subject.