Entrepreneurship and business ventures

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Entrepreneurship and Small

Business Ventures

Lecture 14

Revision and Assessment Support

Key Area

Idea

 Action

Business Plan

(Business

Model Canvas)

Strategy

Project

Management

Psychology of

Entrepreneur

Networking

Creativity,

Innovation &

Learning

Corporate

Social

Responsibility

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Sustainability

Role of

Government

Pitching &

Presentation

SelfReflection
&

Understanding
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Assessment

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Individual coursework (100%): 2000 Word Count (+/ – 10 %, excluding cover page,
appendix and references)

PART I (50%): Using the Business Model Canvas to visualizing the resources

needed for a new business opportunity that you’ve identified to develop a new
start – up venture based in the UK.

PART II (50%): Evaluate yourself and illustrate, to what extent, you enjoy being
an entrepreneur.

Critical thinking and synthesis

** Your answer must support by relevant theories / frameworks / concepts and
examples **

Submission deadline: by 12:00 noon Tuesday 26th April 2022

Key

The new business?

Resources needed  Business Model
Canvas (canvas + articulations)

Self evaluation: enjoy being an
entrepreneur?

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Marking Criteria
Criteria Grade descriptors
70 and above 60-69
50-59 40-49

Shows an Clear demonstration of a Clear demonstration of a Demonstration of a critical Provides evidence of some understanding of
sophisticated, critical and well-developed, critical and and substantial critical understanding of theory and concepts, thorough understanding of
comprehensive understanding of business business opportunity and an ability to business opportunity understanding of business opportunity
identification identification and the critically assess identification and the opportunity identification and the elements of business elements of
business plan
them.

elements of business plan and the elements of plan with appropriate with a few appropriate

Weighting 30% with substantial business plan with good references. references. references. references.

Critical Thinking, High degree of ability to Competent ability to Analysis is evident with some Mostly descriptive, with

Analysis and structure and synthesize systematically analyze and reliance on description. minimal analysis evident. Synthesis

Skills. information and argument synthesize information. Some confusion but most Limited coherent argument that provides

clarity Analysis is relevant and argument is relevant and that lacks focus and

Weighting 30%

throughout the work. effective. Argument is well adequate. direction.

Analysis is appropriate and sustained, structured and
precise and supported by legitimate. original argument.

Supports arguments

Excellent relevant

Good relevant

examples are

Appropriate

relevant Some

relevant examples are

with clear, effective

examples are

evident, evident,

clearly articulated.

examples are

evident and evident.

examples.

exceptionally

clearly articulated.

articu

lated

and

evi

den

ced
W

e
i
g
h
t
i
n
g
2
0
%
t
o
t
h
e
q
u
e
s

tions.

Overall Structure Exceptionally competent Well expressed. Clear and Well expressed. Clear and Adequately

expressed but and Presentation and fluent use of appropriate use of appropriate use of language. some inconsistencies

expression. Confident and language. Appropriate Appropriate citation and apparent. Adequate use of Weighting 20%

excellent use of language. citation and references references format. language. Appropriate

Appropriate citation and format. citation and references references format. format.

2021/22
30-39

Work does demonstrate evidence a partial but uncritical understanding of business opportunity identification and the elements of business

plan and there is limit references.

Inadequate evidence of analysis and ability to develop an effective argument.

Limited evidence.

Deficiencies in expression.

Inconsistent and

inadequate use of

language. Inappropriate

citation and references

format.

29 and below

Work does not

demonstrate

understanding of business

opportunity identification

and the elements of

business plan and there is

absence of references.

No evidence of analysis

and ability to develop an

effective argument.

No evidence.

Very poor and mostly
inarticulate and
incomprehensible.
Inappropriate citation
and references format.

5

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Source Credibility

Academic journals in the ENT and SBM area
 Strategic Entrepreneurship Journal

 Entrepreneurship, Theory & Practice

 Journal of Business Venturing

 Entrepreneurship and Regional Development

 International Small Business Journal

 Small Business & Enterprise Development

 Journal of Small Business Management

 International Journal of Entrepreneurial & Behavioural

Research

 Family Business Review

** high rating journals in other subject area are also applicable **

 Databases / Reports (e.g. government, industry organisations,
consultancy firms)

 Media

MG3009 Entrepreneurship and Small Business Ventures

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General

Reminder
 Evidences (theories/framework, research findings,

statistics, consultancy/industry reports, market
trench/analysis data/examples) must be presented to
support your arguments

 BMC is mandatory in PART I. You can use the BMC template
provided or draw your own one

 Introduction and conclusion is not a must

 The new venture must be based in the UK

 Appropriate citation and reference

 No standardised structure and
format need to be followed
 Please state your word count
at the end of the references

 Will not comment on assignment
draft but questions are always
welcome

 Feedback is not always attached
to a mark but receive in various
formats: verbally or via written
comments, provided to
individuals or groups during
lectures, seminars, office-hours,
via assessment / coursework /
exam feedback sheets,

assessment clinics and other interactions

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Assessment & Feedback Guide

Step 1

Setting
assessment
according to
Higher
Education
Quality
Assurance
Standards

Step 2

Pre –
assessment
support
lecture / (

seminar /
office hours /
Q&A session)

Step 3

Marking
( initial
marking and
scrutinizes)

Step 4

Post –
assessment
support

Step 5

Board of
Examiners
ratification

9

2021/22 14

( credit: www.enicbcmed.eu )

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Objective of the assessment

1. Demonstrate an understanding of the theories surrounding SME development/growth/survival and how they relate to the wider environment of business

support and economic development.

2. Assess the relevance and impact of Government initiatives in relation to the needs of SMEs, especially during start up phases.

3. Develop and evaluate business idea and plan taking into account issues such as resources management, business/market research, team management and

presentation.

4. Demonstrate critical self-reflection and self-evaluation of their personal development through experiences and team activities.

Description of the Assessment

Individual Assignment (100%)

Word limit: 2000 words (+/-10%, excluding cover page, appendix and references) **

please state your word count at the end of the references **

PART I (50%):

Using the Business Model Canvas to visualizing the resources needed for a new business opportunity that you’ve identified to develop a new start-up

venture based in the UK.

PART II (50%):

Evaluate yourself and illustrate, to what extent, you enjoy being an entrepreneur.

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** Your answer in each of the two parts must relate to relevant theories/frameworks/concepts and examples. **

UG mark bands, degree equivalent and grade point bands [Senate Regulation 2] are:

Indicative Mark Band Degree class equivalent Grade Grade Point

90 and above 1 A* 17

80-89 1 A+ 16

73-79 1 A 15

70-72 1 A- 14

68-69 2.1 B+ 13

63-67 2.1 B 12

60-62 2.1 B- 11

58-59 2.2 C+ 10

53-57 2.2 C 9

50-52 2.2 C- 8

48-49 3 D+ 7

43-47 3 D 6

40-42 3 D- 5

38-39 Fail E+ 4

33-37 Fail E 3

30-32 Fail E- 2

29 and below Fail F 1

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Criteria Grade descriptors

and above 60-69 50-59 40-49 30-39 and below

Shows an
understanding
of theory and
concepts, and
an ability to
critically assess
them.

Weighting 30%

Clear demonstration
of a sophisticated,
critical and

thorough

understanding of

business

opportunity

identification and

the elements of

business plan with

substantial

references.

Clear demonstration
of a well-developed,
critical and
comprehensive
understanding of
business
opportunity
identification and
the elements of
business plan with
good references.

Demonstration of a

critical and
substantial
understanding of
business
opportunity
identification and
the elements of
business plan with
appropriate
references.

Provides evidence of
some critical
understanding of
business
opportunity
identification and
the elements of
business plan with a
few appropriate
references.

Work does
demonstrate
evidence a partial
but uncritical
understanding of
business
opportunity
identification and
the elements of
business plan and
there is limit
references.

Work does not
demonstrate
understanding of
business opportunity
identification and the
elements of business
plan and there is
absence of references.

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Supports

arguments with
clear, effective
examples.

Weighting 20%

Excellent relevant

examples are

evident,

exceptionally clearly

articulated and

evidenced to the

questions.

Good relevant

examples are

evident, clearly

articulated.

Appropriate

relevant examples

are evident and

articulated.

Some relevant

examples are

evident.

Limited evidence. No evidence.

Overall

Structure and

Presentation

Weighting 20%

Exceptionally

competent and

fluent use of

expression.

Confident and

excellent use of

language.

Appropriate citation

and references

format.

Well expressed.
Clear and
appropriate use of
language.
Appropriate citation
and references
format.

Well expressed.
Clear and
appropriate use of
language.
Appropriate citation
and references
format.

Adequately
expressed but some
inconsistencies
apparent. Adequate
use of language.
Appropriate citation
and references
format.

Deficiencies in
expression.
Inconsistent and
inadequate use of
language.
Inappropriate
citation and
references format.

Very poor and mostly
inarticulate and
incomprehensible.
Inappropriate citation
and references format.

Critical

Thinking,

Analysis and

Synthesis Skills.

Weighting 30%

High degree of

ability to structure

and synthesize

information and

argument that

provides clarity

throughout the

work. Analysis is

appropriate and

precise and

supported by

original argument.

Competent ability to

systematically

analyze and

synthesize

information.

Analysis is relevant

and effective.

Argument is well

sustained,

structured and

legitimate.

Analysis is evident

with some reliance

on description.

Some confusion but

most argument is

relevant and

adequate.

Mostly descriptive,

with minimal

analysis evident.

Limited coherent

argument that lacks

focus and direction.

Inadequate

evidence of analysis

and ability to

develop an effective

argument.

No evidence of analysis

and ability to develop

an effective argument.

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The Business Model Canvas

Revenue Streams

Channels

Customer SegmentsValue PropositionsKey ActivitiesKey Partners

Key Resources

Cost Structure

Customer Relationships

Designed by: Date: Version:Designed for:

DesigneD by: Business Model Foundry AG
The makers of Business Model Generation and Strategyzer

This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:
http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?

is your business more
Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)

sample characteristics
Fixed Costs (salaries, rents, utilities)
Variable costs
Economies of scale
Economies of scope

Through which Channels do our Customer Segments
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?

channel phases
1. Awareness

How do we raise awareness about our company’s products and services?
2. Evaluation

How do we help customers evaluate our organization’s Value Proposition?
3. Purchase

How do we allow customers to purchase specific products and services?
4. Delivery

How do we deliver a Value Proposition to customers?
5. After sales

How do we provide post-purchase customer support?

For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?

For whom are we creating value?
Who are our most important customers?

Mass Market
Niche Market
Segmented
Diversified
Multi-sided Platform

What type of relationship does each of our
Customer Segments expect us to establish
and maintain with them?
Which ones have we established?
How are they integrated with the rest of our
business model?
How costly are they?

examples
Personal assistance
Dedicated Personal Assistance
Self-Service
Automated Services
Communities
Co-creation

What Key Activities do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?

catergories
Production
Problem Solving
Platform/Network

What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
Revenue Streams?

types of resources
Physical
Intellectual (brand patents, copyrights, data)
Human
Financial

Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquairing from partners?
Which Key Activities do partners perform?

motivations for partnerships
Optimization and economy
Reduction of risk and uncertainty
Acquisition of particular resources and activities

What value do we deliver to the customer?
Which one of our customer’s problems are we
helping to solve?
What bundles of products and services are we
offering to each Customer Segment?
Which customer needs are we satisfying?

characteristics
Newness
Performance
Customization
“Getting the Job Done”
Design
Brand/Status
Price
Cost Reduction
Risk Reduction
Accessibility
Convenience/Usability

types
Asset sale
Usage fee
Subscription Fees
Lending/Renting/Leasing
Licensing
Brokerage fees
Advertising

fixeD pricing
List Price
Product feature dependent
Customer segment
dependent
Volume dependent

Dynamic pricing
Negotiation (bargaining)
Yield Management
Real-time-Market

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