Reference no: EM133676828
Managing Strategy and Innovation
Assessment - New Venture Development - Strategic Plan
Task: This is an individual assessment. In this assessment task you will be required to develop a Strategic Plan of a new venture plan. In this task, you are required to propose a new idea for a business startup. The idea should be new and can be any of the following:
Duplication Creative replication of an existing concept
Extension New use or different application of an already existing product, service or process Synthesis Combination of existing concepts and factors into a new formulation of use Invention Totally new product, service or process
Assessment 2 will cover topics discussed in Week 1 - 4 including (but not limited)
SWOT external & internal business environments analysis to identify opportunities
Blue ocean strategy
Strategic management
Competitive strategy
Value chain
Internal resources & capabilities analysis
In your report you are expected to demonstrate your skills to assess the external and internal business environments, evaluation of internal strategic resources and capabilities, identification of a viable market opportunity, evaluation of key competing offerings to develop a new customer value, analysis of competitive strategy options, selecting and crafting a strategy to compete in your target industry and design a value chain to implement your chosen strategy.
The report should be written in a formal academic report format. An example of a recommended template is as follows.
Title
Executive Summary
Table of contents
Introduction
Aim of the report
New venture idea
Reader roadmap
Literature Review (optional)
New Venture Idea
Discussion (integrating literature and evidence)
Conclusions
Recommendations
References (APA style)
Appendixes
The individual report must between 2,500 - 3000 words in length excluding the executive summary, references, and any appendices. You are expected to refer to at least 12 - 15 credible peer reviewed published research articles in addition to other sources. The referencing style must follow the APA referencing style.
You will be assessed as follows:
Structure of the written report: Introduction, literature review, analysis, discussion, conclusions, and recommendations are logically ordered and consistent.
Identify main issues: Prioritise choices, justify and prioritise issues chosen.
Analyse the issues: Each issue is analysed using evidences and relevant concepts and principles.
Critical evaluation: Consider all viable short-term and long-term alternatives to potentially solve each issue, examine the advantages and disadvantages of each alternative.
Explain resources: Identify resources including finances and human resources, enumerate the time frame and monitoring processes required for the recommendations to be put into practice.
Write clearly and concisely: Arguments are explicit and succinct, appropriate headings are used, and spelling and grammar are accurate.