Assignment description: OBJECTIVE: Part A: The ability to demonstrate an understanding of the Entrepreneur mindset and its motivation to think outside the box to innovate new uses of existing products...

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Assignment description: OBJECTIVE: Part A: The ability to demonstrate an understanding of the Entrepreneur mindset and its motivation to think outside the box to innovate new uses of existing products and/or processes to create a successful start-up business. Importantly, an entrepreneur must demonstrate the ability to articulate their thoughts in a logical manner that an audience can comprehend. To fulfil this objective, you need to present the key aspects of your report in the form of a video presentation of about 5 minutes in length. Part B: An entrepreneur is also able to communicate with his/her peers. To achieve this objective, you are required to write an executive summary of at least 150 words and post it as the topic of your discussion forum. Your analytical skill will be tested by the manner in which you make comments on 5 of your student peers’ Discussion Forum Topics with the goal of getting meaningful responses from the 5 of them. Part A Task Description: Assessment 2A: Video Presentation APPROACH: To enhance the learning process for this course, you will research about a present-day Entrepreneur(s) who have created a Unicorn Company (A unicorn company is a start-up business that has exceeded a valuation of US$1 billion). The entrepreneur and company you have chosen to write about must be a business that is within the Tourism and Hospitality Industry in Australia. The company can be from any one of these sectors: Restaurant (includes food delivery business), Accommodation, Airlines, Cruise, Tourist Destination. You need to: 1. Provide a brief autobiography of the entrepreneur(s) who you admire with reasons of what is it that makes you admire this person(s). Define your understanding of the entrepreneur mindset. Relate that to the entrepreneur that you admire and explain how it has driven the entrepreneur to develop the start-up business into a successful Unicorn Company. (estimate 2 - 3 hours) 2. Next, explain the start-up business that this entrepreneur(s) had created from scratch. What motivated this entrepreneur(s) to be the founders of the company. Your description must include these elements: a) What were the challenges that they encountered in the early days? Did they identify a gap in the market and created the start-up business to fill the needs that was unfulfilled in the market. Describe the funding of the business: how much was needed and how did they find the money. b) Describe the ideation process. What did the team do to come up with innovative ideas to overcome the obstacles. c) For each of the challenges that you identified, explain the solutions that were implemented. Ensure that you explain why you think that the solutions are innovative. (estimate 3 - 4 hours) 3. Provide an update of the company in terms of its role within the Tourism and Hospitality Industry. You can make comments about: a) How it may have disrupted the traditional businesses in terms of pricing, delivery, processes, efficiency, etc. b) Give your opinion and recommendations about the future pathway of the company. Consider the impacts that the Covid 19 pandemic has affected the manner with which companies have to operate. Your answers must have contextual relevance. (estimate 2 - 3 hours) 4. You will create a video presentation using MS Powerpoint to present your report. Your slides will have the key points and your video presentation should be around 5 minutes. Avoid using text as a narration tool. (estimate 2 - 3 hours) Assessment Criteria – 2A Video Presentation (30 marks): The Assessment Task will be graded based on the following criteria: 1. Excellent research and summary about the entrepreneur(s) and you have clearly identified and discussed his/her mindset. In addition, you have analysed and explained how the entrepreneur(s)’ mindset played a key part in the development of the start-up company into being a successful Unicorn Company. (4 marks) 2. You have researched and described the start-up business in detail and it is comprehensive. You have demonstrated an excellent understanding of these elements. (15 marks) · Skilfully identified the gap in the market and explained how the founders of the company fulfilled the need. (3 marks) · Accurate and excellently defined the challenge(s) faced by the company in its early formative years. (3 marks) · Discussed the funding process for the start-up business. (3 marks) · Ideation is the process of generating different ideas to address the challenges with innovative products and/or processes. Detailed and comprehensive discussion of the ideation process and correctly identified the part(s) of the business that was innovative. (3 marks) · Your discussion of the implementation of the solutions was excellent and it reflects your comprehension of the strategy needed to overcome the challenges. (3 marks) 3. Your update narrative of the company is excellent. You have clearly explained why you think that this Unicorn Company has disrupted the traditional business models within its market segment. You have provided excellent recommendations and/or comments about how the company has changed its operations to cope with the negative impacts of the Covid 19 pandemic. (4 marks) 4. The video presentation was excellent where the summary of the content in the powerpoint slides is relevant and with relevant images and you spoke in a clear and audible voice. The transition is excellent and logical and the reference list has 3 academic references. APA referencing used throughout is consistent and accurate and demonstrated ability to reference a range of both primary and secondary sources both in-text and using a reference list. (7 marks) Part B Task Description: Assessment 2B: Response Discussion Forum An online forum provides the opportunity for students to comment and respond to each other’s writing. It creates a virtual classroom discussion and gives students who are not able to talk in a classroom setting an opportunity to voice their opinion. Some students also prefer to formulate and structure their thoughts in a writing format. a. Topic development Write an executive summary, of at least 150 words, of your report from Part 2A. This summary must be relevant and reflective of academic critical thinking.