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BUS020N563S: L5 Entrepreneurship
You are required to write your essay in up to 3,000 words about your new venture that provides: a) A crisp and appealing description of your chosen business idea behind the venture AND b) An explanation of its unique value proposition. Although the idea for your new venture may be chosen & developed either from your guided walk(s) in class or from your reading of any of the course materials, you must clearly explain how you derived your idea by reference to entrepreneurship literature (for example, entrepreneurial alertness or affordable means). This is because learning about entrepreneurship is largely about learning how to structure & develop your ideas before launching them in the market. All this will significantly reduce the chances of your idea/s failing in the market.
As your essay will be written exclusively for academic examiners you must show a critical understanding:
i) Of either one (or more, if you choose) of four entrepreneurship perspectives (economics, finance, cognitive, or organisational) that will be presented to you in lectures & seminars, &
ii) Of how your chosen literature may help you in guiding your choice of market-able idea/s & in developing it into an important value proposition for taking into the market, either as a commercial or as a non-commercial venture, as you decide.
In writing your essay you must adopt the following structure. If you choose another structure- or no perceptible structure at all- you will either need to have an outstanding reason (& I cannot think of any) or you will be penalised for failing to show that you have learned how to organise your ideas in a most basic way so they are comprehensible to the outside world at large:
1) Introduction (to your venture),
2) Description of your Product, Service, or Organization Process,
3) Discussion (of how you intend to develop your chosen Product/Service/Process, &
4) Conclusion (suggesting Why & How your Product matters to audiences beyond your targeted customers)
Following your Introduction, please briefly describe your perceived uniqueness & importance of your Product (Section 2 above), including but not limited to the technical specifications & sophistication of Product features. Following this description, you should focus on developing your idea (Discussion Section) in explaining why your Product matters & how your chosen entrepreneurship theory or theories may support the development of your Product in the market. While Section 2 is about the uniqueness of your Product, Section 3 should concern how you intend to develop it in the market (for example, as a profit or not-for-profit venture, or as a women’s only or ethnic business) by drawing on one of four entrepreneurship perspectives of your choice, as presented in your lectures & seminars. Sections 2 & 3 are where most of the marks for this individual assignment will be allocated.
Please approach the Module Convener immediately if you are in any doubt about the examination requirements of your summative essay.
Individual assignments must have a maximum word length of 3,000 words, excluding references and any appendices, tables, and diagrams. In entrepreneurship, brevity of expression, orally and in writing, is always a virtue, and you should aim to write in as sharp and focused a manner as possible within this word limit. Instead of the wrong question that students often ask about the maximum length of assignments, ask yourself: What is the minimum words I need to communicate what I want to communicate? Accordingly, as an entrepreneurship student you should always aim as few words as you need to score highly and not more words simply to reach the maximum word limit.
Indicative Marking Scheme for Your Individual Essay:
1. Evaluation of one or more market-able idea/s of the student’s choice: 1) How well has the student presented her idea/s, & b) How well has the student developed & evaluated her idea/s: 35%
2. Application of the course literature on entrepreneurship, in particular one (or more) theoretical perspectives out of four major perspectives presented in class in supporting the development of the student’s idea in her chosen market: 25%
3. Structure and content in the presentation & evaluation of the student’s idea/s, including the use of diagrams, tables and appendices, as appropriate: 15
4. Written skills in communicating the student’s idea/s: 15%
5. Evidence of convincing, evidence-supported entrepreneurial judgement: 10%