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4ENTP002W Creating New Business

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WESTMINSTER BUSINESS SCHOOL

Semester 2, 2020-21 Referral/Deferral Assessments for 12th July, 2021

Module Title: Creating New Business

Module Code: 4ENTP002W

Text Box: RESIT Coursework 1 brief and rationale

The rationale for coursework 1 is to provide you with an opportunity to use your skills and knowledge to work on the assessment of a small or medium sized enterprise (SME).

4ENTP002W Creating New Business
4ENTP002W Creating New Business

You are required to select an SME. The business you select should permit you to undertake the set tasks and meet the criteria. You need to be able to access the details of the business you are asked to cover as part of your assessment.

Coursework 1: SME assessment report (1,500 words) Deadline – Monday 12th July, 2021 by 1pm

  1. Provide an introduction to the business
  2. Identify the target market and outline two ways in which customer needs have recently changed (an example might be what the impact of Covid 19 has meant when it comes to how to obtain a product or service- provide evidence)
  3. Explain four changes and developments in the industry/market that are relevant to the business (these could be changes in particular PESTLE factors or industry factors -provide evidence).
  4. Undertake a SWOT analysis of the business
  5. Outline the business model canvas of the business and indicate two ways in which it can be improved.
  6. Make two creative and/or innovative recommendations that will improve business performance in the light of your SWOT analysis and the current business model canvas

The marking grid is as per below:

Assignment 1

Assessment Criteria  Weight  Items description
Structure and Presentation  10%Overall layout and presentation;Level of relevance and accuracy of the data presented;
  Absence of spelling or grammar mistakes;
      Knowledge and Understanding      35%Evidence of research into the actual business (background, components, management, operations etc )Evidence of research into market/industry that the SME operates withinClear identification of target market and the current business model.
      Analysis and Recommendations      35%  Quality of SWOT analysisIdentification of how the business can develop its business modelRecommendations for improvementsQuality of the overall assessment undertaken
  References  10%Minimum of 6 references using accurate Harvard style. Sources must be cited from academic journals, textbooks and any other credible sources.
    Creativity         and Innovativeness      10%  Level of creativity and innovativeness demonstrated in approaching the case work, analysis undertaken and recommendations made
Text Box: RESIT Coursework 2 brief and rationale

Your business idea that you prepare an individual video pitch for is something that you can develop further when you undertake coursework 3.

You will produce a video pitch of your idea for coursework two. Your pitch will be aimed at potential investors who would like to fund your idea. Define the pain that your product/service will eliminate, or the need that your service or product will meet. You will then outline the dimensions of your service or product and explain why you believe your service or product will be successful. Ideally, you will have some evidence that your target audience is willing to purchase your service or product.

Coursework 2:

Deadline for Video link: Monday 12th July, 2021 by 1pm.

The second coursework consists of a 3-minute video pitch.

The video clip can be crafted in any way that you deem fit, considering the criteria.

The video clip should focus on trying to sell the idea to an investor (or a bank manager).

Your video pitch should include (but is not restricted to):

  1. Problem the business idea solves/pain it eliminates
  2. Target customers
  3. Product/service details
  4. Unique selling proposition/competitive advantage
  5. Financing requirements – the amount required to start the business
  6. Evidence of research undertaken

The following summarises the marking criteria used to asses CW2:

Assessment CriteriaWeightItems description
Structure          and Presentation20%Inclusion of relevant sections considering the proposed idea;Logical sequence of material in the videoQuality of imagesAbsence of spelling or grammar mistakes;
Knowledge and Understanding40%Evidence of relevant research;Clear identification of a problem to be resolvedCritical thinking abilities;
Analysis and Recommendations40%  Quality of the idea and its appropriateness for the need identified.Creativity and innovativeness of ideaFeasibility and viability of idea.
Text Box: RESIT Coursework 3 brief and rationale

This assignment builds on CW2. You will have to outline in 2,500 words (± 10%) a business opportunity report. You also need to submit a 300-word reflection that

discusses how you have developed or improved two or three skills over the course of the semester. This assignment is to be completed individually.

We expect you to work on the idea that you developed in CW2 but should you decide to change the idea, that is permitted.

CW3 Assignment Brief

Business opportunity report (INDIVIDUAL) – Deadline : Monday 12th July 2021 by 1pm.

Please remember that you are required to produce a market opportunity report that includes a business model canvas (with supporting notes). You have 2,500 words (± 10%). The word-count excludes appendices. You also need to include a 300 word reflection about two to three skills you have developed over the course of the module and how you might apply one or more of those skills in future.

You need to include:

  1. The need you are meeting or the pain you are eliminating
  • The target market you intend to serve
  • A description of your product or service and an explanation as to why it is likely to be successful (make appropriate reference to primary and secondary research undertaken)
  • A Business Model Canvas
  • Detailed explanatory notes that accompany your business model canvas
  • A 300-word reflection on two or three skills you have developed & how you might apply one or more of those skills in future.

(Please take the marking criteria into consideration).

The following summarises the marking criteria used to asses CW3:

Assessment CriteriaWeightItems description
Structure and Presentation15%Overall layout and presentation;Level of accuracy of the data presented;Absence of grammatical errors
Knowledge and Understanding25%Evidence of research into the macro and micro environment;Application of relevant theory;Use of appropriate data.
Analysis and Recommendations35%Quality of explanations;Critical thinking abilities;Problem solving abilities;Quality of the proposed business model & supporting notesAbility to show feasibility of business idea;
Overall Quality10%Minimum of 10 references using accurate Harvard style. Sources must be cited from academic journals, text and any other credible sources.
Workshop Reflection (Appendix)15%You are required to present a reflection of 300 words about two or three skills you have developed during the module and how you might apply one or more of these skills in future.

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