Reference no: EM132998957 , Length: word count:2200

BUMGT5977 Innovation and Entrepreneurship

Assessment Task - Proposal and New Venture Pitch

Purpose of the task:

The objective of this assessment task is for students to develop and present a proposal for a new venture either within an existing organisation or as an entirely new business opportunity. Students will be presented with four problem/opportunity areas based on the following: a) intrapreneurial opportunity within an existing business; b) entrepreneurial endeavour within a broader commercial context; c) opportunity within a public sector context; and d) a social or ‘wicked' issue identified at the community level. Students will work on this task individually and will choose ONE (1) of the above contextual scenarios for this assessment task based on their own interests and areas of expertise, etc.

Each student will embark on an entrepreneurial project as defined in the scenario document (please refer to this document which is located in the Moodle site in the Assessment area). Students will explore the problem/opportunity area from a range of strategic vantage points in line with the processes and concepts taught throughout the semester. Developing a possible entrepreneurial solution to the issue, they will need to critically analyse internal and external factors that may affect the proposed venture's ability to create new opportunities and forms of value for its stakeholders, including weighing up sector-specific conditions.
Students will determine and then communicate the steps required for undertaking key entrepreneurial processes in their new venture, such as business modelling, obtaining necessary support and resources, managing risks, and marketing and communications.

This assignment is grouped into two (2) separate parts. Part A involves the development of a written proposal providing a detailed overview and justification of the venture. Part B involves a pitch presentation in which students persuasively communicate the proposed venture to a prescribed (imagined) audience that is closely involved and invested in the identified issue.

What the task involves:

Part A: New Venture Written Proposal

In a venture proposal report (2,000 words +/- 10%), students will provide a persuasive justification which draws upon current and relevant research and evidence to illustrate how their proposed approach will effectively address the issue/opportunity identified. Frequent direct links should be made between the evidence provided and the new venture being put forward.

While a professional report structure should be adhered to, creativity is valued and the onus is on providing a clear and concise ‘story' depicting the student's knowledge of venture planning and business model analysis. The written proposal should also detail the steps to be undertaken in order for their new venture idea to be initiated within the specific context under consideration.

The New Venture Written Proposal (Part A of Assessment Task 3) will be assessed by the lecturer, and the criteria for assessment is outlined in Assessment Task 3 (Part A) rubric.

Part B: New Venture Pitch

For Part B of this assessment task, each student will develop a 5-minute recorded presentation that effectively describes the new venture idea (i.e. the same proposal which is outlined in the New Venture Written Proposal).

This presentation will require that students communicate as entrepreneurs with the presentation format directly targeting the designated audience they are seeking to persuade. As a pitch presentation, it should clearly put forward a highly developed solution to their industry-specific problem/opportunity. The description of the venture idea should be easy to grasp, persuasive, and ultimately the presentation is an opportunity to get the audience interested and excited about the new initiative.

Based on how they would like this video to look and the way they intend to convey the core message, the student will need to decide which video software to use for production. Options include creating a short film using a phone's video function, Moovly (online video presentation software), Kaltura (linked with Moodle) and narrated PowerPoint.

Attachment:- New Venture Pitch.rar