1 Semester 2, 2020-21Referral/Deferral Assessments Module Title: Creating New Business
RESIT Coursework 1 brief and rationale
The rationale for coursework 1 is to provide you with an opportunity to use your skills and knowledge to work on the assessment of a small or medium sized enterprise (SME).
You are required to select an SME. The business you select should permit you to undertake the set tasks and meet the criteria. You need to be able to access the details of the business you are asked to cover as part of your assessment.
Coursework
1: SME assessment report (1,500 words) 1)Provide an introduction to the business
2)Identify the target market and outline two ways in which customer needs have recently changed (an example might be what the impact of Covid 19 has meant when it comes to how to obtain a product or service–provide evidence)
3)Explain four changes and developments in the industry/market that are relevant to the business(these could be changes in particular PESTLE factors or industry factors–provide evidence).
4)Undertake a SWOT analysis of the business
5)Outline the business model canvas of the business and indicate two ways in which it can be improved.
6)Make two creative and/or innovative recommendations that will improve business performance in the light of your SWOT analysis and the current business model canvas
RESIT Coursework 2 brief and rationale
Your business idea that you prepare an individual video pitch for is something that you can develop further when you undertake coursework 3.
You will produce a video pitch of your idea for coursework two. Your pitch will be aimed at potential investors who would like to fund your idea. Define the pain that your product/service will eliminate, or the need that your service or product will meet. You will then outline the dimensions of your service or product and explain why you believe your service or product will be successful. Ideally, you will have some evidence that your target audience is willing to purchase your service or product. Coursework 2:
3 The second coursework consists of a 3-minute video pitch. The video clip can be crafted in any way that you deem fit, considering the criteria.The video clip should focus on trying to sell the idea to an investor (or a bank manager). Your video pitch should include (but is not restricted to):
1) Problem the business idea solves/pain it eliminates
2) Target customers
3) Product/service details
4) Unique selling proposition/competitive advantage
5) Financing requirements– the amount required to start the business
6) Evidence of research undertaken
RESIT Coursework 3 brief and rationale
This assignment builds on CW2. You will have to outline in 2,500 words (± 10%) a business opportunity report. You also need to submit a 300-word reflection that discusses how you have developed or improved two or three skills over the course of the semester. This assignment is to be completed individually.
We expect you to work on the idea that you developed in CW2 but should you decide to change the idea, that is permitted.
CW3 Assignment Brief
Business opportunity report (INDIVIDUAL)–
Please remember that you are required to produce a market opportunity report that includes a business model canvas (with supporting notes). You have2,500 words (± 10%). The word–count excludes appendices. You also need to include a 300 word reflection about two to three skills you have developed over the course of the module and how you might apply one or more of those skills in future.
You need to include:
1)The need you are meeting or the pain you are eliminating
2)The target market you intend to serve
3)A description of your product or service and an explanation as to why it is likely to be successful(make appropriate reference to primary and secondary research undertaken)
4)A Business Model Canvas
5)Detailed explanatory notes that accompany your business model canvas
6)A 300–word reflection on two or three skills you have developed& how you might apply one or more of those skills in future.
(Please take the marking criteria into consideration).