MGT607 Innovation, Creativity & Entrepreneurship | My Assignment Tutor

MGT607_Assessment 2_Business Concept Plan Page 1 of 6 ASSESSMENT BRIEF 2Subject Code and TitleMGT607 Innovation, Creativity & EntrepreneurshipAssessmentBusiness Concept PlanIndividual/GroupIndividualLengthUp to 1500 wordsLearning Outcomesb) Critically evaluate and justify the perspective of theuser and the unique value proposition aimed at them inthe development of the enterprise.c) Design and deliver an impactful business solution thatis underpinned by the objectives of the business case.d) Analyse the viability of the business model andsolution developed.e) Critically reflect on key elements that influence thesuccess of the business case and personal journey.SubmissionBy 11:55pm AEST/AEDT Friday of Module 3.2 (Week 6)Weighting20%Total Marks20 marks Context:Identifying an opportunity is great! For example, before Uber became a global icon the idea of atechnologically based journey service was just an embryonic idea by Garrett Camp and TravisKalanick. However, before any idea or opportunity can proceed you need to be able to articulatesome key things to obtain buy-in to continue before significant time and investment is spentdeveloping a product / service / process innovation that may require some adjustments and/orother considerations if you want it to be successful.This assessment requires students to develop a Business Concept Plan that articulates what youridea is and what you would like to do with your idea to exploit the opportunity you have identified.This clarity of your vision will serve as evidence that you have thought critically about the idea.When investors and other business people see this, they will have a better sense of the risk theywould take by working or investing with you just by reading this document.You will need to incorporate the theory, which you have learnt in Modules 1 to Modules 3 to provideyou with the tools and structure for the components that you need address in your plan.Instructions:MGT607_Assessment 2_Business Concept Plan Page 2 of 6You are required to develop a Business Concept Plan which provides a business solution to anopportunity which you have identified. You need to ensure that the plan demonstrates that youridea is a feasible and viable solution and something that will obtain support from an executive ormanagement team to develop in to a business case, ultimately seeking funding and approval todevelop / implement (This will be Assessment 3!).Consider what it is that will attract approval and funding of your idea. What it is that makes this agreat opportunity and something worth developing or progressing?Whilst the format may vary for your plan, it must include the following: Cover Page Industry Background [1-2 paragraphs] Problem / Opportunity – description of your idea [1-2 paragraphs] High-level Solution [1-2 paragraphs] Business Model – how will you make money? [1-2 paragraphs] Gap Analysis Competitor Analysis [use a 2-axis matrix] Unique value proposition – what makes you unique, better and different from yourcompetition Ideal Customer Profile – before using your product / after Total Addressable Market [use a diagram to illustrate] Business Model Canvas Value Proposition Canvas ReferencesYour report will be assessed based on the Rubric below and is limited to a word count of 1500excluding the cover page.Referencing:You must recognise all sources of information; including images that you include in your work.Reference your work according to the APA 6th edition guidelines. Please see more information onreferencing here Instructions:Submit your report in the Assessment 2 Business Concept Plan submission link in the Assessmentsection found in the main navigation menu of the subject Blackboard site. A rubric will be attachedto the assessment. The Learning Facilitator will provide feedback via the Grade Centre in the LMSportal. Feedback can be viewed in My Grades.Please note the following additional information You should adhere to the correct use of academic writing, presentation and grammar. It is important to check your similarity in turnitin. All sentences highlighted must be eitherparaphrased in your own words or put in quotes and referenced accordingly. You should beMGT607_Assessment 2_Business Concept Plan Page 3 of 6aiming for as low a similarity score as you can. Similarity highlighted in a contents page,reference list or appendices is nothing to be concerned about. It is important to adopt the appropriate use of the APA 6th edition style when citing andreferencing research. Please comply with all academic standards of legibility, referencing andbibliographical details (including reference list). You are advised to include a minimum of five (5) academic references which should betextbooks or academic journals. Appropriate websites may be used in addition to these. The attached learning rubric guides the marker when awarding marks for your essay. Youshould review your paper in line with this, to ensure there is nothing you have missed.MGT607_Assessment 2_ Business Concept Plan Page 4 of 6Learning Rubric: Assessment 2 Business Concept Plan AssessmentAttributesFail (Unacceptable)0-49%Pass(Functional)50-64%Credit(Proficient)65-74%Distinction(Advanced)75 -84%High Distinction(Exceptional)85-100%Knowledge andunderstanding(technical andtheoreticalknowledge)Understandstheoretical modelsand conceptsPercentage for thiscriterion25%Limited understandingof required conceptsand knowledgeKey components of theassignment are notaddressed.Knowledge orunderstanding of thefield or discipline.Resembles a recall orsummary of key ideas.Often confuses assertionof personal opinion withinformationsubstantiated byevidence from theresearch/coursematerials.Thorough knowledge orunderstanding of the fieldor discipline/s. Supportspersonal opinion andinformation substantiatedby evidence from theresearch/course materials.Demonstrates a capacityto explain and applyrelevant concepts.Highly developedunderstanding of thefield or discipline/s.Discriminates betweenassertion of personalopinion and informationsubstantiated by robustevidence from theresearch/coursematerials and extendedreading.Well demonstratedcapacity to explain andapply relevant concepts.A sophisticatedunderstanding of thefield or discipline/s.Systematically andcritically discriminatesbetween assertion ofpersonal opinion andinformationsubstantiated by robustevidence from theresearch/coursematerials and extendedreading.Mastery of concepts andapplication to newsituations/furtherlearning.Application ofknowledge topractiseLimited understandingof the internal andexternal businessenvironment.Understands the internaland external businessenvironment includingcommercial context andmarket forces.Understands the impact offinancial, social, political,environmental issues onthe businessEvaluates the impact offinancial, social, political,environmental issues onthe business; and whererelevant, as they relateto different countriesDemonstrates culturalsensitivity.Analyses the impact offinancial, social, political,environmental issues on MGT607_Assessment 2_ Business Concept Plan Page 5 of 6 Shows a clearunderstanding of thepractical applicationand implications ofkey concepts andprinciplesPercentage for thiscriterion30%Uses a limited range ofinformation as the basisof recommendedpractice.Accesses relevantinformation.Adequately utilisesinformation from avariety of sources.Understands the business.Can prepare and presentsbusiness cases/proposals.where the business mayoperate.Understands thebusiness and its risks.Can prepare andpresents businesscases/proposals.the business; and whererelevant, as they relateto different countrieswhere the business mayoperate.Holistic understanding ofbusiness and its risks.Assesses the impact ofinformation andcommunication systemson the operations of thebusiness.EffectiveCommunicationWell-structuredreport with clear flowof ideasDifficult to understandfor audience, nological/clear structure,poor flow of ideas,argument lackssupporting evidence.Audience cannot followthe line of reasoning.Information, argumentsand evidence arepresented in a way thatis not always clear andlogical.Line of reasoning is oftendifficult to follow.Information, argumentsand evidence are wellpresented, mostly clearflow of ideas andarguments.Line of reasoning is easy tofollow.Information, argumentsand evidence are verywell presented; thepresentation is logical,clear and well supportedby evidence.Demonstrates culturalsensitivity.Expertly presented; thepresentation is logical,persuasive, and wellsupported by evidence,demonstrating a clearflow of ideas andarguments.Engages and sustainsaudience’s interest in thetopic, demonstrates highlevels of culturalsensitivity MGT607_Assessment 2_ Business Concept Plan Page 6 of 6 Percentage for thiscriterion30%Effective use of diversepresentation aids,including graphics andmulti-media.Correct citation ofkey resources andevidencePercentage for thiscriterion15%Demonstratesinconsistent use ofgood quality, credibleand relevant resourcesto support and developideas.Demonstrates use ofcredible and relevantresources to support anddevelop ideas, but theseare not always explicit orwell developed.Demonstrates use of highquality, credible andrelevant resources tosupport and develop ideas.Demonstrates use ofgood quality, credibleand relevant resources tosupport and developarguments andstatements. Showsevidence of wide scopewithin the organisationfor sourcing evidenceDemonstrates use ofhigh-quality, credibleand relevant resourcesto support and developarguments and positionstatements. Showsevidence of wide scopewithin and without theorganisation for sourcingevidence


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