The purpose of this assessment task is to:

• Develop a Business Plan which identifies, describes and analyses a business opportunity for a new entrepreneurial venture, examining its market, operating, and financial feasibility.
• Develop and present a convincing and well-motivated proposal for a loan or financial investment to potential funders.

The unit learning outcomes assessed are:

• LO#2: Critically interrogate and evaluate the literature on entrepreneurship and apply that understanding to interpret the steps in the successful trajectory of entrepreneurial ventures;
• LO#3: Integrate and deconstruct knowledge and learnings from a range of contexts and disciplines to conceptually map, apply and make recommendations for the management of innovation and entrepreneurship for a given organisational context;
• LO#4: Demonstrate accountability in autonomous and collaborative judgements and innovative strategic thinking in response to contemporary and future business/ professional challenges through working collaboratively on an innovative new venture; and
• LO#5: Design, formulate and present a business plan for a business venture grounded in a convincing innovation and entrepreneurial proposition.

ASSESSMENT STRUCTURE

The assessment task has two parts: a business plan and a pitch

PART 1: Business Plan (40%)

Entrepreneurs need to develop a Business Plan which identifies, analyses and describes how a new entrepreneurial venture will be created successfully from a business opportunity. The Business Plan will generally consist of (at least) the following:

• Description of the opportunity and business concept
• Analysis of the industry, market, customers, and competitors
• Description of the new venture
• Analysis and assessment of the market and a marketing plan
• Development of an operating plan
• Development, analysis, and assessment of financial projections
• Development of a loan, investment proposal

PART 2: The Pitch (10%)

Entrepreneurs often need to approach potential funders for financial support prior to the launch of a new venture. This presentation/pitch will generally consist of the following:

• Description of the entrepreneur and team
• Description of the opportunity, product or service, and what is new/unique about the product/service
• Description of the target market, customers, and how the customers will be acquired.
• Revenueand costs projections, and financial ratios (such as breakeven analysis)
• Funding proposal

INSTRUCTIONS

PART 1 – BUSINESS PLAN (40%)

1. 1. In Session7 you will be allocated to a group to work on Assessment 3
   2. In your group, brainstorm and formulate an innovative business idea
   3. Lay out your business concept in a business plan covering the following points:
      1. Persuasively present the opportunity/problem or gap you looking to address
      2. Description of the business concept
      3. Analysis of the industry, market, customers, and competitors
      4. Description of the new venture
      5. Analysis and assessment of the market and a marketing plan
      6. Development of an operating plan (Business Model)
      7. Development, analysis, and assessment of financial projections
      8. Development of a loan, investment proposal
   4. Use relevant sources to support your business concept and analysis

PART 2 – PITCH (10%)

1. 1. Using your business plan, prepare and present a pitch for funding
   2. Ensure your pitch contains the following information:
      1. Introduction
      2. Description of the entrepreneur and team (including Mission/vison of the firm)
      3. The problem/market opportunity
      4. Description of the solution: product or service, and what is new/unique about the product/service
      5. Description of the target market, customers, and how the customers will be acquired.
      6. Identify Key competitors
      7. Business Model
      8. Marketing Plan
      9. Revenue and costs projections, and financials.
      10. Funding proposal
   3. You can use PPT or any other suitable software
   4. Submit your Business Plan and your slides in the allocateddropbox on VU Collaborate.
   5. Use the following file naming conventions for your submission: Family name, first name, Assessment 3.

ASSESSMENT CRITERIA

The following levels of criteria will be used to grade this assessment task:

PART 1: DEVELOPMENT OF A BUSINESS PLAN FOR A NEW ENTREPRENEURIAL VENTURE (40%)

• Criterion 1: Coherent and logical description of the businessidea andnew venture (15%)
• Criterion 2: In-depth and detailed analysis of thebusinessidea background and context(industry, market, customers, and competitors) (35%)
• Criterion 3: Soliddevelopment, analysis, and assessment of financialelement (financial projections, loan, investment proposal) (35%)
• Criterion 4: Writing conventions (structure, style, clarity) and referencing (Harvard) (15%)

Access Part 1 RUBRIC HERE: for the full marking criteria. opens in new window

PART 2: PRESENTATION OF A PITCH FOR FUNDING (10%)

• Criterion 1: Organisation,summary of the business idea,clarityand strength of thepersuasive element and justification (40%)
• Criterion 2: Delivery, engagement with audience (including response to questions), and time management (20%)
• Criterion 3: Supporting material (slides) (20%)
• Criterion 4: Effective, cohesive teamwork (20%)

Access Part 2 Rubric Assessment 3 – Pitch opens in new window for the full marking criteria.