At the end of this module, you will be able to:
LO1:Demonstrate how the principles of creativity, innovation and entrepreneurship convert into new processes, products or services.
LO2:Demonstrate awareness of the requirement to understand the needs, wants and behaviour of the various types of potential customers in the marketplace and identify and delivers value proposition to target customer segments.
LO3:Develop the financial forecasts for a new venture- income statement, breakeven, cash flow statement, balance sheet and evaluate these forecasts of financial performance.
LO4:Assess the degree of competition in a market/industry and the likely effect on profitability.
LO5:Apply the concepts involved in developing a planning framework for a new venture and evaluate the key activities involved in the process of starting up a new venture.
Canvas & JIRA Deadline: Tuesday 16thFebruary 2021 by
14.00pm
Assessment Method
Successful completion of the module’s learning outcomes will be evidenced by a3500 wordsindividual business plan.
You are asked to producean Individual business plan, not exceeding 3,500 words and excluding appendices and references. The assessment for this module draws on your reading and learning from the lecture and workshop sessions. The business plan which will test all learning outcomes.
See below for detailsGuidanceonBusiness Plan, AssessmentCriteria andMarkingScheme
Guidance Note
The business idea can be real or imaginary. The assessment should be undertaken individually. The workshop sessions allow students to build their business plan step by step.
You are required just to submit a business plan. You are advised to write up to 3,500 words. This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices or references. You must include an accurate word count on your title page. Suggested assessment criteria include:
Clarity, consistency and originality of value proposition(s)
Clear identification of target market segment(s)
Comprehensiveness of market and competitor analysis
Consistency/originality of core marketing & entry and/or growth strategies
Comprehensiveness and accuracy of financial projections
Comprehensive identification of resources required and financing
Identification of material risks and their mitigation
Overall presentation, including
This is an academic piece of work therefore you are expected to link theory and practice. You should take care to ensure that the work you submit has a high standard of presentation. You must provide supporting evidence for your arguments and use a wide range of resources including academic literature from journals, textbooks and so on.
This is an individual assignment. Youmustacknowledge your sources of information and evidence using the Harvard referencing system. All assignments are subject tothe University’s regulations on collusion and plagiarism and must be submitted inelectronic form for checking on Canvas for Turnitin and theTurnitin reportmust be submitted toJIRAalong with your assignment.
The essay should be submitted on...th 2021 at 14:00.
For advice on writing skills, you are encouraged to consult the resources on the
module and the following site for use of the Harvard referencing system:
https://londonlibrary.sunderland.ac.uk/studyskills/
Your attention is drawn to the university’s policy on plagiarism. Information abouthow to avoid plagiarism can be found by visiting the following link:
https://londonlibrary.sunderland.ac.uk/studyskills/avoidingplagiarism/
Business Plan Structure and Marking Criteria/Scheme
The assessment for this module draws on your reading and learning from the lecture and workshop sessions. You are asked to write an individual Business Plan, not exceeding 3,500 words.This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices or references. You must include an accurate word count on your title page.
Marking Criteria (ALL aspects detailed in each section MUST be included)
Introduction-- Business description, Business name, opportunity or need being addressed, description of the product(s)/service(s), unique benefits, intellectual property details.(20 marks)
Marketing Plan-- Explanation and justification of the market chosen, market research conducted, industry analysis, marketing plan; i.e. chosen target market, how you will reach your consumers, consumer profile and behaviour, evaluation of the competition, sales process, pricing strategy.(30 marks)
Financial Plan-- Sources of funding identified, include Cash Flow Forecast, Profit and Loss Statement and Balance Sheet for a one-year period, explain contingency plan and growth aims and Break Even.(30 marks)
Management Team and Company Structure-- Details of ownership and management of the Business, roles of team members, skills, qualifications, training needs and interests that can be used to best effect for the business venture.(15 marks)
Submission Format/ Layout-- Structured, logical, well presented.(5 marks)(See marking scheme below for more detailed guidance)
LUBM302: New Venture Creation- Marking Scheme and Generic Assessment Criteria