BUSN3003 Entrepreneurship And Innovation :
BUSN3003
Entrepreneurship And Innovation
ASSESSMENT 3: INDIVIDUAL REPORT
Lean Business Plan
DUE: 11PM (AEST) FRIDAY WEEK 6
WEIGHTING: 40%
LENGTH: 1500 words +/-10%
This assessment follows on from the second graded task of developing a PowerPoint slide deck to provide a general overview of your innovation to a potential investor. The Venture Capitalist or Angel Investor has expressed interest in exploring the opportunity that your venture presents and has requested that you develop a lean business report.
Key to this task will be the provision of a professional business plan that confirms, through additional depth of discussion from Assessment 2, the viability and potential profitability of your venture. The business plan further tests the robustness of your venture and its attractiveness as an investment opportunity for an Angel Investor/Venture Capitalist.
The business plan should reflect any relevant feedback received from Assessment 2 grading which, for the purpose of this assessment, is assumed to emulate from the potential investor. Therefore, a rationale must be provided should such direction be ignored.
Overview: Students should critically apply unit theories and concepts to develop a lean business plan. The plan should adhere to business report writing protocols which include development of a correctly ordered and effective Executive Summary, Table of Contents, introduction, conclusion and referencing in SCU’s Harvard style.
Task: Drawing on unit content, combined with additional research, an impactful lean business plan should be developed to incite investor interest in the sustainable innovation and business model.
The report should include:
- An effective introduction outlining the objective of the report and a general description of the venture
- Business Description: an external environmental and industry analyses
- Business Description: mission and/or vision and strategic approach e.g., Porter’s generic strategy; Strategic Compass (Gans, Scott & Stern 2018) quadrant incorporating discussion relating to intellectual asset protection
- Business Description: development of a value proposition, which communicates the uniqueness of the product, incorporated within a Business Model Canvas
- Marketing: description of the proposed target market including size and trend
- Marketing: articulation of the value of the innovation in relation to product, pricing and distribution strategies
- Marketing: construction of a lean marketing communications plan
- Operations: overview of the production or service process and/or logistics including a rationale for the operation’s location
- Management: description of style and overview of initial organisational structure
- Management: identification and rationale for proposed legal structure
- Financial: clear communication of realistic financial data including profit and loss statement/s and break-even analysis
- Financial: clear identification of level and type of funding sought that provides the investor with a sustainable investment opportunity
- Critical Risks: development of a table identifying key risks to the successful commercialization of the venture and proposed mitigation strategies
- Milestone Schedule: Gantt or similar chart which visually identifies key milestones and deadlines.
Logistics: It is recommended that students utilise the Appendices to ensure adherence to the stipulated word count. To assist in the compilation of the report, the BMC, organisational structure and Gannt chart can be incorporated into the body of the report as pictures.
The report should be uploaded, by the stated deadline, to the link located under Assessment 3 in ‘Assessment Tasks and Submissions’ on Blackboard.
Note: Prior to commencing this assessment students are strongly recommended to complete the Academic Integrity Module and Quiz to avoid the embarrassment and penalties of academic misconduct.
Rubric: It is important to consult the Rubric in conjunction with this document. The Rubric is detailed under Assessment within Blackboard. The Assessment Criteria overview, detailed below, is a summary only.
Overview of Assessment Criteria
| Assessment Criteria | Weighting of 100% |
| Propose: an opportunity and solution, to support the commercialisation of an innovative product, of relevance to a profitable target market | 30% |
| Construct: a robust lean business plan focused on inciting investment by an Angel Investor or Venture Capitalist in the proposed venture. | 55% |
| Create: a highly impactful report, conforming to normal business writing protocols, that would incite an investor’s further interest in the venture. | 15% |
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