Task:
1Demonstrate the following knowledge and understanding
Demonstrate a critical understanding of the entrepreneurial character, start-up and growth strategies, and business planning.
2Demonstrate the following skills and abilities
Formulate and produce a comprehensive viable business model following a critical assessment of a market opportunity, using creativity, innovation, and an understanding of financial resource implications.
What do I need to do to pass? (Threshold Expectations from UIF)
Evidence understanding of the planning process in developing a business idea
Demonstrate the capacity for the design, development, and thorough analysis explicate in developing a business model for an opportunistic commercial or social venture
Evidence financial planning through quantification of resource need and available to launch a business venture
Reasonable discussion and evaluation within the in-class test on two specific (undisclosed) parts of your business model
What am I required to do in this assignment?
Submit a business model for an original business idea (30%). This can be a real or an imaginary commercial or social business or a plan for an existing small business. The interactive chapter exercises on the textbook website allow you to build your business model. This should include a brief description of the business idea, a market and competitor analysis followed by the business model for its commercial launch, using the format in your textbook. Your word-limit does not include the title page, any references, and any supporting documentation.
This will be followed by a 1 hour 30-minute, open-book, in-class test (45%). This will comprise two questions on specific details of your business model. These questions will not be disclosed in advance. You are advised to bring a copy of your business model with you for the test.