Reference no: EM133576643

Assignment

Length: 3,000 words.

There are two parts to the individual report:

Part I: Essay (2000 words) evaluating theoretical frameworks and concepts explaining the process of launching new ventures. Your report should demonstrate wide reading and comprehension of the theoretical frameworks introduced in the module. You are expected to draw on key concepts and frameworks to analyse the process of launching new ventures. Good reports will draw on theoretical concepts to show understanding of the challenges typically encountered when creating a new venture. This may include frameworks explaining the influence of uncertainty and related knowledge problems on new ventures; strategies for creating new firms, the founders' role, and how entrepreneurs can overcome challenges such as resource dependency and liabilities of newness/scale.

Part II: A Self-reflection (1000 words) Written in the first person (I) this part of the report should demonstrate your personal understanding of the process of creating a new venture. You do not need to draw on theoretical frameworks in Part II. Your primary focus must be on your experiences of using Validate on the module. Additionally (but not in place of this), you can draw on previous entrepreneurial experiences ( e.g., founding your own firm, working for start-ups, entrepreneurial competitions ( e.g., Ingenuity) internships, family business etc) . What insights did you gain from designing a Business Model for a new venture? What might you do differently in future if creating or joining a startup?

Some key points to consider:

A. The individual report requires two parts: Part I is a standard academic essay with references, introduction, discussion, and conclusion. Part II is a self-reflection written in the first person (I) and based on your personal understanding of the process of launching a new venture.

B. A marking rubric for the individual report is provided on Moodle. Summarising from the rubric, a good report must demonstrate the following:

1. Understanding of theoretical frameworks introduced during the module to explain the process of launching new ventures;

2. A clear explanation of what business models are and why they are relevant for launching new ventures;

3. Evidence of comprehension based on high quality and wide ranging referencing of literature included in the reading list;

4. Self-reflection showing personal understanding of the process of launching a new venture.

5. Well structured, rigorous and logical report.

Word count specified is to be strictly adhered to. A penalty will be applied if this is not adhered to.

Coursework Submission Requirements:

The maximum word count (3,000 is set by the module convener and must be adhered to. The penalty for exceeding this limit is a five mark deduction.

1. The actual word count of the assignment must be stated by the student on the first page ( cover sheet) of the assignment.
2. The overall word count does include citations and quotations.
3. The overall word count does not include the references at the end of the report.
4. The word count does not include figures and tables.
5. Appendices may be included and are not included in the word count.

Some concepts are

Defining customer segmentation
Customer segmentation techniques
BMIP customer segments in validate

Topic I:

Understand business models and business modelling

Understand the theoretical basis for the Business Modelling in Practice group work

Topic II:

Understanding the economic and social relevance of new ventures

Understanding and being able to identify the characteristics of new ventures Understand the relevance to LNV of the following:

A. Uncertainty
B. Information Asymmetries
C. Equivocality
D. Four properties of emerging organisation

Topic III:

Be able to identifying the differences between new and larger firms Understand how entrepreneurs gain legitimacy for new ventures
Be able to explain the process of acquiring resources and reducing resource dependencies

1. Understanding how entrepreneurial teams typically form from homophilous relations
2. Understanding how founders can build an entrepreneurial culture (e.g., 3 Rs)

A. Definitions of what customer segmentation is and why it is important for launching new ventures

B. Different approaches to customer segmentation techniques

1. Size of market (TAM, SAM, SOM)
2. Inputs for analysing customer segments
3. Personas
4. Customer Empathy Maps/Journey Mapping
5. Customer data/feedback

C. Using Validate to develop hypotheses such as:

1. For whom are we creating value? (Define your segments)
2. Who are our most important customers? (Test hypothese)