MMM241 – Entrepreneurship and Innovation

Unit code – MMM241

Unit Name – Entrepreneurship and Innovation

Trimester 2 2022

Assessment Task # 2

 Task name – Group Report (Business Plan)  

DUE DATE AND TIME:                              Sunday September 4th (Week 9), by 11:55pm (AEST)

PERCENTAGE OF FINAL GRADE:        40%

WORD COUNT:                                   2500 words

 

Learning Outcome Details

Unit Learning Outcome (ULO)Graduate Learning Outcome (GLO)
ULO 1: Apply specialised skills and knowledge associated with entrepreneurship to real world situationsDGLO1 Discipline-specific knowledge and capabilities
ULO 3: Demonstrate insights into the practical dimensions of creating a sustainable business venture and the challenges associated with it.DGLO1: Discipline-specific knowledge and capabilities DGLO4: Critical thinking

Description

This is an individual assignment which requires you to develop a sustainable business plan for your chosen business idea.  This assignment is aligned to ULOs 1 and 3, and GLOs 1 and 4. The aim of this assignment is to provide you with a theoretically informed practical understanding of the nature of the entrepreneurship process, including the critical issues that entrepreneurs need to be aware of in starting a business venture, especially relating theory with practise.

This assignment is therefore important as it will help you to understand and analyse the issues involved in developing a business plan and starting a business venture.

TASK

Develop a sustainable business plan for a business of your choice that you would like to start in the future. Select any industry in which you want to establish your business. Your business idea could be either completely new or sufficiently different from any existing business. It is expected that you will integrate theories and synthesize information from existing research to support the development of your business plan.

Please note that for the purpose of this assignment, you are only required to do secondary research; you are not required to interview or get primary data.

Key aspects of the report:

The word limit is 2500 words and will be strictly adhered to. The following sections are not included in the word count:

  • Cover page
  • Table of contents
  • Reference List
  • Appendices.

Please use the Microsoft Word count before submitting your report. The following sections should form part of the report:

I.            Executive Summary (300 words)

II.         Your proposed business venture (2000 words)

Your business idea should be either: a) completely new; or b) based on an existing business, but sufficiently different with unique differentiating points.

  1. Business and Team Description (500 words)

Key features of the business, the team of staff, its uniqueness, location, proximity to supplies, access to transportation; and how it is different from existing businesses

  • b. Source of Finance (200 words)

Identify your source of finance: (bootstrapping, equity or debt lending or other sources)

  • Sustainability (300 words)

Describe how your proposed business contributes to sustainable development. (Discuss how your business aims to benefit the community or protect the environment; does it address any of the sustainable development goals (SDGs)?)

  • Critical risks (200 words)

Discuss the critical risks that you anticipate and your strategies to deal with them

  • Prepare a Lean Canvas (700 words)

Drawing on the building blocks of lean canvas, describe how your business creates value using a 1-page lean canvas format. You are expected to provide a brief analysis and explanation of your proposed lean canvas.

See the following example: https://neoschronos.com/download/lean-canvas/docx/

Conclusion (200 words)

Recommendation (200 words)

  1. References (not part of word count)

Use the Harvard/Author-date method of referencing – NOT footnotes or endnotes. You should have at least 10 references with a minimum of 5 academic journal articles. The rest of the references can be textbooks, newspaper articles, and government reports from the web or from the library.

V- Appendices (not part of word count)

Tables and diagrams if applicable

Submission Instructions

Upload your assignment as a word document to the Deakin College MMM241 Moodle Assignment Submission link.

You must keep a backup copy of every assignment you submit, until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy. Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism.

When you are required to submit an assignment through your MMM241 Moodle Assignment Submission link unit site, you will receive an email to your Deakin College email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment drop box folder after upload, and check for, and keep, the email receipt for the submission.

Marking and feedback

The marking rubric for this task is attached at the end of this document. It is always a useful exercise to familiarise yourself with the criteria before completing any assessment task. You should refer to the rubric when preparing your assignment for submission. The use of rubric ensures that students’ reports are marked by the same standards and criteria no matter who is marking the report. These criteria are given to you in advance so that there are no surprises for you about how your report will be marked! If you are unsure about these criteria, see your tutor or lecturer. 

Criteria act as a boundary around the task and help identify what assessors are looking for specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they align with appropriate graduate attribute/s.

Identifying the standard, you aim to achieve is also a useful strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly recommended.

Students who submit their work by the due date will receive their marks and feedback on Moodle 15 working days after the submission date.

Assessment Feedback 

Students who submit their work by the due date will receive their marks and feedback on MMM241 Moodle Assignment Submission link after 15 working days. 

Extensions

Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s control.

Students seeking an extension for an assignment prior to the due date should apply directly to the Unit Coordinator

Late submission

The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked and will receive 0% for the task.

‘Day’ means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.

Referencing

Any material used in this assignment that is not your original work must be acknowledged as such and appropriately referenced.

Academic misconduct

For information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Student Code of Conduct Policy   on the Deakin College website

RUBRIC

T 2021 MMM241 Assignment 2: Rubric

Performance Levels/CriteriaN (0‐29)N (30‐49)P (50‐59)C (60‐69)D (70‐79)HD (80‐100)
Business uniqueness and feasibility (how well has the student described the features of the business, and justified its uniqueness, and its feasibility)   ULO1,   GLO1,   (10 marks)  No clear analysis; merely reproduces taken‐ for‐granted       ideas about the proposed venture.     No attempts to integrate theories and synthesize information from existing research.    Limited analysis: rarely identifies ideas       about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from  existing research.  Good consideration and analysis of ideas about the proposed venture addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.    Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.  Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.    Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.    
Presentation of Financial information   ULO3,   GLO1,   (3 marks)    No clear presentation and analysis; of the source of finance for proposed venture.   No attempts to integrate theories and synthesize information from existing research.  Limited presentation and analysis; of the source of finance for proposed venture.   Limited integration of theories  and synthesis of  information from existing research.  Good presentation and analysis; of the source of finance for proposed venture.   Good integration of theories   and synthesis of  information from existing research.  Very good  presentation and analysis; of the sources of finance for proposed venture.   Very good integration of theories  and synthesis of information from existing research.  Excellent consideration and analysis of ideas of the sources of finance for proposed venture with justification.   Excellent integration of theories and synthesis of information from existing research.  Exemplary consideration and analysis of ideas  of the sources of finance for proposed venture with excellent  justification.   Near perfect  integration of theories  and synthesis of information from existing research.  
Sustainability of the business:  how well has the student described sustainability of their business, how it contributes to sustainable development and linked it with sustainable development goals (SDGs)?)   ULO3,   GLO4,         (5 marks)No clear analysis of sustainability and links with SDGs;   No attempts to integrate theories  and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.     Limited analysis of sustainability and links with SDGs;      Limited  attempts to integrate theories and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.     Good analysis of   sustainability and links with SDGs;   Good attempts to integrate theories   and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.     Very good analysis of   sustainability and links with SDGs;     Very good attempts to integrate theories and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.     Excellent consideration and analysis of sustainability and links with SDGs;     Excellent attempts to integrate theories and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.     Near perfect analysis of sustainability and links with SDGs;       Near perfect attempts to integrate theories and synthesize information from existing research.     Limited analysis: rarely identifies ideas  about the proposed venture and does not address all aspects of   business and team description; the team of staff, its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses Limited integration of theories, and synthesis of information from existing research.   Good consideration and analysis of ideas about the proposed venture without addressing all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses,   Good integration of theories and synthesis of information from existing research.  An example provided.     Very good consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses   Very good integration of theories and synthesis of information from existing research. A  few good examples.   Excellent consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Excellent integration of theories and synthesis of information from existing research associated with many good examples.     Exemplary consideration and analysis of ideas about the proposed venture in all aspects: business:  team description; its uniqueness, location, proximity to  supplies, access to transportation; and how it’s different from existing businesses     Near flawless integration of theories, and synthesis of information from existing research associated with examples.    
Presentation of the lean canvas and critical risks  (How well  has the student presented the lean canvas, its different blocks as well as the critical risks and the strategies to address them) ULO3,   GLO4,   (14 marks) Poor analysis and no clear presentation of the lean canvas model  and the critical risks and strategies to address them     No attempts to integrate theories and synthesize information from existing research.            Limited analysis: rarely identifies the building blocks of the lean canvas model;and the critical risks and strategies to address them.   Limited integration of theories, and synthesis of information from existing research.          Reasonable analysis: identifies the building blocks of the lean canvas model;and the critical risks and strategies to address them.   Reasonable integration of theories, and synthesis of information from existing  research.  Very Good analysis: identifies the building blocks of the lean canvas model;and the critical risks and strategies to address them.   Very good analysis and synthesis of information from    existing research.  Excellent analysis: identifies the building blocks of the lean canvas model;and the critical risks and strategies to address them.   Excellent integration of theories, and synthesis of information from   existing  research.    Exemplary  analysis: identifies the building blocks of the lean canvas model;and the critical risks and strategies to address them.   Near Perfect integration of theories, and synthesis of information from    existing research.  
Report structure: how well the report conforms to that of a professional business plan with a succinct executive summary and conclusion. This will include the report structure)   ULO3,   GLO1,   (5 marks)      Not following the required report format   and structure.   A poor executive summary and conclusion that doesn’t capture the main components of the research adequately   Poor conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure. Limited adherence to  the required report format and structure.   A limited executive summary that rarely  captures the main components of the research adequately   A limited conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure. Good adherence to the required report format and structure.   A good  executive summary that captures the main components of the research adequately   Good conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure. Very good adherence to  the required report format and structure.   Very good executive summary that captures the main components of the research adequately   Very good conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure. Excellent adherence to  the required report format and structure.   Excellent  executive summary captures the main components of the research adequately   Excellent conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure. Near Perfect adherence to the required report format and structure.   Near Perfect executive summary that captures the main components of the research adequately   Near Perfect conclusion    Limited adherence to required report format and structure.     Good adherence to required report format and structure. Very good adherence to required report format and structure Excellent adherence to required report format and structure Near perfect adherence to required report format and structure.
 Research resources and referencing     ULO1,   GLO1,   (3 marks)  No appropriate research sources and a lack of proper referencing.       (0‐0.5 marks)Limited appropriate research sources and integrated. Mostly inconsistent referencing.       (0.6‐0.9 marks)Some appropriate research sources used and integrated. Quite consistent, proper referencing.       (1‐1.1 marks)Many appropriate research sources used  and integrated with a  very good approach to proper referencing.     (1.2‐1.3 marks)Numerous high quality research sources used  and integrated. Excellent approach to proper referencing.   (1.4‐1.5 marks)Exemplary use of numerous high quality research sources used  and integrated. Perfect approach to proper referencing.   (1.6‐2 marks)  
Overall 40N 0 or aboveN 9 or aboveP 15 or aboveC 18 or aboveD 21 or aboveHD 24 or above
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