In this assignment students will apply theory and evidence covered in the module and develop one venture idea WHICH IS FROM DEVELOPED ECONOMY ENTERING AN EMERGING ECONOMY. Students should describe their idea similar to a short version of a business plan directed at a potential investor. This includes making a case for the viability of the venture idea, spelling out the business model (i.e. logic of value creation and capture), customers, markets, financing and other resources, sustainability of the idea over the longer term (covering at least the first 3 years of trading) etc. Students are free in their choice of idea, i.e. these could take the form of business ventures, social ventures or business-cases for innovations to be introduced in the private, public or third sector. Consequently the potential investors at which the venture idea is targeted can take the form of venture capitalist, banks, government funds, impact investors or philanthropists to name a few. It is important that students spell out the target investor at the beginning of their essay. Students may also wish to build on their insights generated in assignment 1. Details of the assignment including which areas are expected to be explored to ensure that the venture idea is described in sufficient depth as well as detailed evaluation criteria can be found in Appendix 2a and 3. The assignment tests especially knowledge obtained in weeks 5 through 9. A successful assignment contains evidence of application of theory and evidence discussed in class. Students might also find it useful to refer to the ‘Module feedback’ folder on the BSM980 blackboard site which summarizes the reasons for high and low grades. An example essay outline is included as Appendix 2b. The first assignment provides formative feedback. In addition, a range of feedback opportunities will be available to students including in-class feedback, through blackboard discussion group and at individual’s request (during office hours). Please also note the university-wide marking scale displayed in Appendix 3. The reading for your coursework assignments consists of the relevant items from the module reading list and your own independent research. ‘Independent research’ means your own reading around the subject. This includes academic literature that you can search for example in the recommended journals listed at the end of the module reading list; in the bibliography of articles on the reading list; in your own keyword search in literature search engines available on the library website, such as Business Source Complete (EBSCO), Web of Knowledge, EconLit, Emerald Fulltext, ProQuest. Possible Structure for Assignment 3: Description of Venture Idea (BSM 980) Note . 1) There are many different ways to describe a venture idea, and the best way may well depend on your venture idea. Thus the below is only one possible way to structure the description of a venture idea. . 2) Most textbooks about entrepreneurship contain chapters on preparation of a business plan, which you also can use as orientation on how to present your venture idea. For example Burns, P. (2011) Entrepreneurship & Small Business, 3rd ed., Palgrave Macmillan, ch 14 on ‘Developing the business plan’. Or Hisrich, R.D., Peters, M.P. and Shepherd, D.A. (2013) Entrepreneurship, 9th ed., McGraw Hill, ch 7 on ‘The business plan: creating and starting the venture’. 1. Introduction (summarizes venture idea proposed, investor to be targeted, emerging market the venture will be operating in) 2. Opportunity / Problem to be solved 3. Your Solution (product / service) 4. Target Market / Customers (who are they, how will you reach them/excite them about your product/service, are they willing/able to pay for your product/service) 5. Business Model (logic of value creation) 6. Financial and Resources Analysis (includes information on how the venture will be financed, other resources that may be required and how these will be acquired, financial sustainability of venture idea of longer term, etc.) 7. Why you (explain why you are suitable to take this idea forward, i.e. worthy ‘entrepreneur’ to invest in) 8. Appendix, e.g. financial forecasts of income/revenues, costs/expenses and predicted surpluses You may comment on competition when describing the opportunity, the solution, the target market, or business model. You may discuss your entrepreneurial strategy for instance in section 5 or 6 or as a separate section altogether. Points 5 and 6 are often also discussed together. Please see the assignment description including Appendix A2 for details. This outline is no substitute for working through the assignment description.
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