S218 BUS502, Assessment 2 Page 1
CHARLES DARWIN UNIVERSITY
College of Business and Law
Assignment 2:
Entrepreneurial Opportunity Development
| Due Date: | Week 6, Sunday midnight (Darwin time) |
| Value: | 40% |
| Length: | 2,000 – 3,000 words |
| Learning outcomes: | 1. Identify and evaluate trends as the basis for entrepreneurial opportunities. 2. Critically assess relevant industry and consumer data and information. 3. Demonstrate an ability to utilize the business model canvas and value proposition canvas tools. 4. Develop an entrepreneurial idea for a new or significant improved product or service. 5. Critically reflect on your entrepreneurial experience while developing your business opportunity. |
| Preparation: | Participation in lectures and tutorials week 1 to week 5 Engaging with the learning activities, especially for business idea creation, business model canvas, and value proposition canvas. Independent research on opportunities, trends, markets, industries, and consumers. Keeping a reflective journal/notes on your entrepreneurial and assessment development. |
| Presentation: | Professional business report – example structure will be provided |
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Task Details
| Task | The written assignments in this unit provide you with the opportunity to develop your entrepreneurial thinking, abilities, and skills. Even if you do not plan to become an entrepreneur in the future, the entrepreneurial skills that you will develop through this unit and the assignments will be valuable for any professional career. Some of you may even be inspired to become entrepreneurs. There are two important preambles for the unit and assessment 2: 1. Everyone has the potential to develop entrepreneurial skills and abilities! 2. Entrepreneurial opportunities are everywhere! For assignment 2, you are required to identify and develop an entrepreneurial opportunity in the marketplace. For this development, you will be utilising two well-known tools – the business model canvas and value proposition canvas. The entrepreneurial opportunity can be for a new or significantly improved product or service in any industry. The business model canvas provides a framework for development and assessment of your identified opportunity into a business model. The canvas enables you to focus on the most relevant parts of a business model. Parts of the business model canvas refer to the value proposition and customer aspects. As these are the key aspects of any business model development, they will be explored in more detail in the value proposition canvas. You can already start to explore the canvases by visiting https://ift.tt/1Ad5khH (registration is free and provides some free resources and videos). To start your entrepreneurial opportunity development, you need to identify and discuss relevant trends, as these will provide a wealth of opportunities. You can focus your trend research and opportunity assessment on an industry topic or sector of your choice (e.g. health, sustainability). Based on the identified and chosen opportunity for your business, you are then required to research and assess relevant industry and consumer data as these provide important inputs for the development your business model and value proposition. Finally, as developing an entrepreneurial mind-set is part of this unit, you are required to reflect on your entrepreneurial journey so far. Of course, noting down your reflections and thoughts should be done at all stages of your entrepreneurial opportunity development. Assignment 2, and the feedback received, will provide the basis for the business plan development in assignment 3. |
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| Assessment criteria (incl. weighting) |
Trends and opportunity assessment (10%) Identified and discussed relevant trends, good and clear overall focus, identified and assessed possible opportunities, chosen a suitable opportunity, supported with evidence (quality of trends and opportunity assessment, relevance of trends, plausible opportunities, suitable choice, quality of supporting evidence*) Industry and consumer assessment (20%) Researched and assessed relevant industry and consumer data with regards to the business opportunity, clear understanding of the industry and possible consumer segments, supported with evidence (quality of industry and consumer assessment, relevance for the entrepreneurial opportunity, quality of supporting evidence*) Business model (25%) Developed a suitable business model, utilised the business model canvas, brief discussion of each developed aspect, supported with evidence (quality of business model, relevance of presented information, overall plausible business model, quality of supporting evidence*) Value proposition (25%) Developed a suitable value proposition, utilised the value proposition canvas, brief discussion of each developed aspect, supported with evidence (quality of value proposition, clear development of value proposition for the chosen product or service, clear understanding of relevant consumer aspects, quality of supporting evidence*) Reflection (10%) Reflected on changes in their entrepreneurial thinking/abilities/skills, discussed a starting situation and changes over time, linked to teaching material and learning situations, linked to evidence where appropriate (quality of reflections, depth and criticality, relevance to entrepreneurial thinking/abilities/skills) Writing report (10%) Paper is written in a report style and structured to support argumentation and readability; contains correct spelling and grammar; within the word limit. Application of the CDU Harvard referencing style guide for in-text citation and reference list. (clarity of report structure, flow and readability, quality of writing, word limit, correct format of references and reference list) |
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| Penalties | Late Submission Late assignments will lose 5% of the available marks each day (or part thereof). Plagiarism You are to identify the sources of any ideas and words in your assignment that are not yours. Unattributed materials may not be included in the consideration of your assignment and serious cases of academic misconduct will be handled in accordance with the Student Complaints Management Process. |
* supporting evidence refers to support with in-text citations as well as further information in appendices where suitable
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