| LO1. Demonstrate a systematic and critical understanding of contemporary tools, techniques, and strategies for innovation management, entrepreneurial thinking, opportunity evaluation, and the development of new ventures. |
| LO2 . Critically evaluate market opportunities, technology developments, and available resources, including sources of capital, and synthesise findings to support innovative value propositions and new ventures. |
| LO3. Identify and critically evaluate and interrelate stakeholder interests and key risks, including financial, commercial, technical, and legal risks, in the context of a new venture, and propose and justify strategies for managing these complex issues. |
| LO4. Develop a cogent and justified a business plan for a new venture to respond to an evidenced-based market opportunity support by a critical analysis of key risks and key stakeholder interests. |
Assessment Task:
Scenario:
Celebrating a major mark this year, Northern Powerhouse Investment Fund (NPIF) has provided over £1bn of direct and private sector co-investment to new and growing enterprises in the world. Realizing the need to enhance innovation for climate change and sustainable development, the NPIF has opened a new fund for green/sustainable innovations. This initiative will be aimed primarily at encouraging innovativeness and business creation and development within areas such as sustainability, renewable energy, environmental-friendly or eco-friendly products, and minimisation of carbon footprint, which are critical to meeting the climate change goals of the world.
In this line, the NPIF has set aside £150 million for this purpose, to finance greener and sustainable innovations during start-up or in early stages of operation. NPIF is ready to invest in each project such as sustainability, renewable energy, environmental-friendly or eco-friendly products, Social Innovation, Fintech and minimisation of carbon footprint with a total funding of up to £750,000.
Source: (Northern Powerhouse Investment Fund, 2024 )
To qualify for this funding, you must:
Propose a strategy for a new Social Enterprise venture supported by evidence-based market opportunity, stake-holder analysis, risk analysis and meet the above conditions of NPIF to secure the £750,000 funding.
- The business development plan portfolio has two parts – Part 1 and Part 2.
- Part 1 should be completed before the 5th Part 1 needs to be approved by the tutor/lecturer before students can proceed with Part 2.
Part 1 – Pitch (Presentation 10 minutes ) – Formative assessment
Pitch for the new venture presented in the class and approved by lecturer (Power Point presentation – 10 minutes)
The PowerPoint should include a) Context of new social venture in your chosen area b) evidence-based critical analysis in support of your new venture c) identify the relevant stakeholders, risks and resources required.
Part 2 – Business Development Plan – Report (5000 words) Summative Assessment
Produce a 5000-word Business Development plan for your four tasks of the chosen Social Enterprise and ensure you include an Executive Summary at the beginning (300 words ).
Task 1. Introduction – Critically evaluate Social Entrepreneurship as part of Innovation and Entrepreneurial thinking ( 300 words).
Task 2– Introduce your chosen new venture (approved during Presentation) by justifying the mission and vision. A critical analysis of evidence-based market opportunity. Analysis should be supported by facts and figures. Additionally synthesise findings to support innovative value proposition for the new venture. Moreover, include a critical evaluation of resource implications for the chosen new venture (2000 words).
Task 3. Critically evaluate stakeholders’ analysis and risk analysis related to your new venture.
For stakeholders’ analysis select any one of the three models from Mendelow’s model, Salience Model, RACI matrix model, apply the selected model to your stakeholder’s analysis and justify the selection of the model. While performing the risk analysis, ensure you cover financial, commercial, technical, and legal risks using risk matrix chart (1500 words).
You can use for this task3 to generate steps / template of the models for stakeholder analysis and risk analysis matrix. However, the content discussion should be your own in the context of your chosen new venture with relevant references.
Task 4. Develop and Justify your strategy for the new venture using any one of these three models from Business Canvas Model, Hybrid Model and Social Business model or any other appropriate model you select justifying the suitability of the chosen model ( 700 words)
You can use for this task4 to generate steps / template of the three models or any other model you select for your strategy. However, the content discussion should be your own in the context of your chosen new venture with relevant references.
Task 5: Conclusion ( 200 words )
Reference List (Not included in word count)
- Appendix (Not included in the word count)
- PowerPoint Slides from Part 1 (Not included in the word count)
Important information
| Declaration: At the beginning of the assessment, you should also include a declaration of any software tools including Generative AI (GAI) applications that you used in developing and completing the assessment. |
In your appendix, please enclose the screen shots of the prompts.
Level HE7 – It is expected that the Reference List will contain between fifteen to twenty sources. As a MINIMUM the Reference List should include four refereed academic journals and five academic books.
Citations and references should follow the Harvard Referencing System: see https://www.bolton.ac.uk/leaponline/My-Academic-Development/My-Writing-Techniques/Referencing/Level-2/Harvard-Referencing.aspx.
Specific Assessment Criteria/Marking Scheme:
Appendix A – Provides a rubric identifying specific assessment criteria (rubric) for the elements identified in the proforma feedback sheet.
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