Assessment 2
Assessment Type: Entrepreneurial Proposal – paired assessment – 3000 word report. Students should do this assessment with a partner
Purpose: To allow students to apply communication, creativity and team work to a practical real world situation. This assessment relates to Learning Outcomes a, b and d.
Value: 30%
Due Date: Pair formation Week 4 in class. Approval for product / service – week 6 in class. Report due Week 10 – 5.00pm Monday 25 January 2016
Submission: As this is a paired assessment, pairs need to nominate which of them will upload the report to Moodle. ONLY one (1) student from each pair is to upload to Turnitin. This is to avoid a 99% similarity situation
Topic: An Entrepreneurial Venture.
Task Details:
Pairs are to develop an entrepreneurial product or service that could be commercialised – PLEASE DO NOT USE A CAFÉ OR RESTAURANT. Examples of possible products or services will be discussed in class in week 5 – groups. The product or service should be original and producible (i.e. no science fiction). The primary target market should be local, although secondary markets may be reached via the internet. Pricing, distribution and promotion strategies should reflect this.
Pairs need to prepare a proposal for their entrepreneurial venture as if seeking funding from a bank or Venture Capital source.
Groups should be formed by Week 4, and a decision as to the product or service considered should be given to the tutor no later than the end of tutorial in Week 6 for approval.
Research Requirements
As with any business proposal, any ideas, proposals etc. need to be based on supporting evidence. As this is a commercialisation proposal, groups need to use a range of appropriate sources to support their proposal – these sources are expected to be a combination of academic theory sources and other statistical fact or trend sources – the latter may be government papers, newspaper articles, research reports or other relevant sources. Groups need to consider carefully the validity of the source and use the information appropriately.
Presentation:
Students should present this idea/venture in a 3000 word report containing:
1) A Title Page (consider the design – it needs to look attractive and professional)
2) Table of Contents
3) Background (to the idea)
4) Mission
5) Product (Service) offering
6) Market analysis a) Industry analysis b) Competition
7) Primary Target market
8) Marketing
a) Product (probably similar to section 3 above – additional detail where necessary)
b) Pricing
c) Distribution
d) Promotion
9) Critical risks
10) Financial analysis
11) Reference list identifying all sources used – these should also be found in the body of the report where used and referenced using Harvard (Anglia version) referencing.
Images of the product, brand and promotions will add value to the report and there is a need to consider placement of such elements – in the body of the report or as attachments.
Marking Guide:
Element Marks Available Marks Awarded
Introduction / Background
• Introduction clearly outlines the purpose and scope of the report
• Clear explanation of opportunity / solution 5
Market Analysis
• Clear and evidence based analysis of the industry
• Clear and meaningful competitor analysis - including how the product/service better meets customer needs than available alternatives 15
Target Market
• Clearly identified and quantified where possible – supported with evidence
• Are suitable segmentation terms used?
• Are the primary needs/benefits identified? 10
Marketing
• Clearly explains the product / service in sufficient detail?
• Is brand and packaging clearly described (if relevant)?
• Are ideas original and do they provide a suitable solution to the need identified?
• Are promotion, Delivery and pricing clearly explained in sufficient detail? 10
Strategies and Tactics
• Are they logical for the solution, the target market and the funds available?
• Is a 1 page mock-up of a print ad or other promotion image included?
• Is it original and does it sell the product/service in a meaningful way?
• Is it clearly based on the message map? 20
Critical Risks
• Are the critical risks identified and explained clearly and logically? 15
Research
• Are ideas supported with any evidence?
• Is the evidence sourced from appropriate sources? 10
Presentation
• Professionally presented as per assessment task
• References presented correctly as per Harvard system and student guides
• Written communication is clear – spell checked, proof-read and grammatically correct 15
Total 100
Late Penalty (if applied) = -5% per day
Assessment 2 Total Marks 30
3.3 Plagiarism and Referencing
Please remember that all sources used in assessment tasks MUST be suitably referenced. Failure to acknowledge sources is plagiarism, and as such is a very serious academic issue. Students plagiarising run the risk of severe penalties ranging from a reduction through to 0 marks for a first offence for a single assessment task, to exclusion from KOI in the most serious repeat cases. Exclusion has serious visa implications. The easiest way to avoid plagiarising is to reference all sources.
Harvard referencing is the required method – in-text referencing using Author’s Surname (family name) and year of publication. While there are many versions of Harvard referencing, KOI prefers the Anglia version of Harvard referencing.
A Referencing Guide, “Harvard Referencing”, and a Referencing Tutorial can be found in the right hand menu strip in Moodle on all subject pages.
An effective way to reference correctly is to use Microsoft Word’s referencing function (please note that other versions and programs are likely to be different). To use the referencing function, c lick on the References Tab in the menu ribbon – students should choose Harvard – Anglia 2008 as the style. A guide to this method can be found in Moodle.
Authorship is also an issue under Plagiarism – KOI expects students to submit their own original work in both assessment and exams. All students agree to a statement of authorship when submitting assessments online via Moodle, stating that the work submitted is their own original work. Authorship becomes as issue under the following circumstances:
• Handing in work created by someone else, whether copied from another student, written by someone else, or from any published or electronic source, is fraud, and falls under the general Plagiarism guidelines.
• Copying / cheating in tests and exams also fall under these guidelines. Such incidents will be treated just as seriously as other forms of plagiarism.
• Students who willingly allow another student to copy their work in any assessment situation may be considered to conclude to the copying/cheating, and similar penalties may be applied.
2.5 Prescribed and Recommended Readings:
Provided below, in formal reference format, is a list of the prescribed and recommended readings
Prescribed Text:
Frederick, H. H., O’Connor, A. J. and Kuratko, D., et al., 2013. Entrepreneurship: Theory, Process, and Practice, 9th ed., 2014, Cengage
Recommended Readings:
Allen, K. R., 2012. Launching New Ventures: An Entrepreneurial Approach, 6th ed., Cenage Learning, Hatten, T. S. 2012. Small Business Management, Entrepreneurship and Beyond, 5th ed., South Western Cenage Learning
Scarborough, N.,2015. Essentials of Entrepreneurship and Small Business Management, Global Edition, 7 th ed., Pearson Education,
Schaper, M., Volery, T., Weber, P., Lewis, K.,2014 Entrepreneurship and Small Business, 4th AsiaPacific ed., Wiley,
Additional Course Resources:
There are many Marketing texts available that can be used to supplement the prescribed text, including: Rix, P., 2013. Marketing, A Practical Approach, McGraw-Hill Australia
Kotler, P., et al, 2013. Principles of Marketing, Pearsons Australia
Audretsch,D., 2012. Entrepreneurship research, Management Decision, Vol. 50 Iss 5 pp. 755 - 764 http://dx.doi.org/10.1108/00251741211227384
Crumpton, M. A., 2012. Innovation and entrepreneurship, The Bottom Line, Vol. 25 Iss 3 pp. 98-101 http://dx.doi.org/10.1108/08880451211276539
Morrison, A. 2000. Entrepreneurship: what triggers it?, International Journal of Entrepreneurial Behaviour & Research, Vol. 6 Iss 2 pp. 59-71 http://dx.doi.org/10.1108/13552550010335976
Periodicals
Business Review Weekly
Useful Websites: The following websites are useful sources covering a range of information useful for this subject..
However, most are not considered to be sources of Academic Peer Reviewed theory and research. If your assessments require academic peer reviewed journal articles as sources, you need to access such sources using the Library database, Ebscohost, or Google Scholar. Please ask in the Library if you MGT707 MGT707 ENTREPRENEURSHIP T315 GH 30 OCT 2015 Page 6 of 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD ABN: 72 132 629 979 CRICOS 03171A are unsure how to access Ebscohost. Instructions can also be found in Moodle.
Australian Anthill http://anthillcommunity.com/
Melbourne based online magazine for entrepreneurs by entrepreneurs, providing a rare and often refreshing take on business, innovation and commercial creativity (in whatever form it takes). It does not focus on the traditional ‘nuts and bolts’ of business development (although this is a key element of editorial content), but instead it highlights the inspiring thrills, spills, trials and tribulations of business development and rapid commercial growth.
Australian Competition and Consumer Commission (ACCC) www.accc.gov.au
Provides information about consumer rights, business rights and obligations and anti-competition conduct
Business.gov.au http://www.business.gov.au/Pages/default.aspx
This Australian Federal Government website offers you simple and convenient access to all the government information, forms and services you need. It's a whole-of-government service providing essential information on planning, starting and growing your business.
Entrepreneur http://www.entrepreneur.com/
USA based online magazine devoted to entrepreneurship – many articles, ‘How to’ guides etc.
Monash University Learning and Language Online
http://www.monash.edu.au/lls/llonline/writing/index.xml
Language and Learning Online is a collection of resources to help you improve students’ academic performance. These resources include online tutorials, interactive exercises, guides for writing different types of assessments, and examples of writing for different subjects.
NSW Business Chamber http://www.nswbusinesschamber.com.au/
The NSW Business Chamber provides businesses with the information, advice, products and services they need to grow and stay competitive. Click the Business Results marketing information. The site also has case studies which could be used as the basis for assessment tasks or in–class activities.
NSW Small Business http://www.smallbiz.nsw.gov.au/smallbusiness/
Provides information from the NSW government on various small business issues. It has a menu link Managing a Business / Marketing & Sales which provides a range of information for small businesses. This site also has a couple of short, on-line quizzes.
Sydney Morning Herald “ My Small Business”
http://www.smh.com.au/small-business/entrepreneur
Tips & advice for entrepreneurs.
Tourism Tasmania Marketing http://www.tourismtasmania.com.au/marketing/national
Various links show how Tourism Tasmania has identified target segments and developed marketing campaigns.