Applying the principles of entrepreneurship

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Reference no: EM132869685 , Length: word count:3500

Purpose: This assessment task assists students to develop skills in:

• applying the principles of entrepreneurship to research and judge the feasibility of a recognised opportunity; and
• choosing appropriate methodologies to formulate and present a business plan for a new venture

Task Overview: Students are required to identify an opportunity for which they will need to develop an entrepreneurial business plan. The plan must be forward projecting for at least three years and not be an existing business. Students may use an existing business organisation provided the entrepreneurial effort within that business is new to that business. The completed business plan should follow the overall model explained in the "Business Planning" section of the course materials. As a guide a typical business plan includes an executive summary, business goals, management plan, market research and analysis, marketing plan, operational plan, financial plan and an action plan. Students are encouraged to place emphasis on the unique entrepreneurial aspects of their plan. Opportunity identification and assessment should feature prominently. Linked to this focus, students should also discuss the feasibility of their plan. This should be a brief discussion as to why their plan will work. The business plan audience is very important and in this instance, when writing the plan, students should imagine their plan being presented to an investor for scrutiny and funding opportunity.

The word limit will require students to be succinct and relevant. Information contained in the appendix and is not assessable and should purely substantiate your presented data and research. Executive summary should also be provided. The word limit is final and absolute and excludes the table of contents, tables, graphs, graphics, executive summary and appendices.

Assessment Criteria: See marking guide
- Identification of entrepreneurial opportunity identification and originality
- The business plan - quality of strategies and analysis, based on substantiated research
- Ability to integrate elements of entrepreneurship theory into the plan
- Research findings, businesslike nature of the plan and feasibility assessment
- Substantiation and quality of research into the proposal which includes in-text references and bibliography

Attachment:- Assessment Task.rar

Reference no: EM132869685

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