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LUBM302- New Venture Creation Assessment Help
Module Leader: Dr. Zillur Rahman
Canvas Deadline: Tuesday 5th Novemeber 2024 by 14.00pm
Learning outcomes
At the end of this module, you will be able to:
LO1: Identify and analyse the theories and concepts of entrepreneurship.
LO2: Recognise and analyse the essential elements of the entrepreneurial activities, including the role of the entrepreneur in stimulating economic growth, discovering business ideas, innovation, resource issues, business planning and strategies for growth. LO3: Analyse and evaluate the opportunity recognition process of entrepreneurs.
LO4: Evaluate research relating to entrepreneurship, gender, ethnicity, family business and small business.
LO5: Apply analytical and enterprise skills in evaluating an entrepreneurial business.
Assessment Method
Successful completion of the module’s learning outcomes will be evidenced by 2,500 words essay.
You are asked to write an individual essay, not exceeding 2,500 words and excluding references. The assessment for this module draws on your reading and learning from the lecture and workshop sessions. The essay will test all learning outcomes.
•Assignment Question
Sim Venture Validate: Ideation
You are required to evaluate and validate your own business idea by using Sim Venture Validates ideation section. This will help you think about real-world problems and solutions, helping you to brainstorm your own business ideas by using images and thinking about real-life problems.
You are encouraged to WATCH short YouTube video, and this will help you to complete the assessment smoothly. https://www.youtube.com/watch?app=desktop&v=UsYXrEs8yFs
•Sim Venture Account
To complete LUBM301 assessment you MUST use Sim Venture Validate Online Platform. You are required to create an account by clicking the below link:
https://app.validatestartup.com/classes/share/dHQjoJECLinks to an external site.
If you have already created an account, please use the below link to login:
https://app.validatestartup.com/onboarding/sign_inLinks to an external site.
See below for details Guidance on Assessment Steps and Marking Scheme/Rubric.
Guidance Note to complete the Assessment
You are encouraged to WATCH short YouTube video, and this will help you to complete the assessment smoothly.
You are required to follow the below steps to complete the LUBM301- Entrepreneurship assignment.
STEP 1: Select Images (350 words)
You are required to select six images on this page. To help you brainstorm, these images will become your Inspiration Bank. You are free to interpret the images however you wish. Only you can give them meaning; they do not have a fixed meaning. To make your choices more personal, you are encouraged to add your own images.
Select 6 images to answer these questions:
Question 1. What do you enjoy doing?
Question 2. What do you know how to do?
Question 3. What do you care about?
STEP 2: Think of Problems (350 words)
Think of a problem for each of the six images you have chosen. The reason for this is that successful businesses solve problems. An opportunity can be found in every problem. For each image, you are required to write a problem. The problem can be big or small. Making something better or improving something small often leads to the creation of a great business.
STEP 3: Opportunities To Solutions (500 words)
Now, you are required to come up with solutions. Every problem is an opportunity. It is possible to create value that people are willing to pay for if you solve that problem.
Brainstorm 6 Solutions
Look at the 6 problems that you came up with. Now brainstorm a business solution for each. This is a solution that customers might pay for.
STEP 4: Select 3 Ideas (500 words)
You have gone broad and envisioned six business ideas, so now you are asked to focus on your favourites. As a way of reducing the number of ideas from 6 to 3, you are required to use a set of criteria.
Select 1 idea for each of these questions.
Question 1. Which idea will be easiest to start?
Pick the idea that you think is the simplest and quickest to startup.
Question 2. Which idea are you most excited to do?
Pick the idea that genuinely excites you and makes you want to start right away.
Question 3. Which idea could have the most social/environmental impact?
Businesses today need to add value to the world. Pick the idea that will create the most positive social and/or environmental impact. STEP 5: Rate 3 Ideas (500 words)
In this step you are required to compare these 3 ideas using the scale provided.
On a scale of 1-10 rate your ideas against these 3 questions
Question 1. How many potential customers are there for this idea?
Question 2. How much is each customer willing to pay?
Question 3. How excited are you to launch this business idea?
STEP 6: Select An Idea (300 words)
Now, you are required to pick the best idea that you would like to develop further.
You are advised to write up to 2,500 words. This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices or references. You must include an accurate word count on your title page.
This is an academic piece of work therefore you are expected to link theory and practice. You should take care to ensure that the work you submit has a high standard of presentation. You must provide supporting evidence for your arguments and use a wide range of resources including academic literature from journals, textbooks and so on.
This is an individual assignment. You must acknowledge your sources of information and evidence using the Harvard referencing system. All assignments are subject to the University’s regulations on collusion and plagiarism and must be submitted in electronic form for checking on Canvas for Turnitin.
For advice on essay writing skills, you are encouraged to consult the resources on the module and the following site for use of the Harvard referencing system:
https://londonlibrary.sunderland.ac.uk/studyskills/
Your attention is drawn to the university’s policy on plagiarism. Information about how to avoid plagiarism can be found by visiting the following link:
https://londonlibrary.sunderland.ac.uk/studyskills/avoidingplagiarism/
Summary Assessment Criteria
The essay will be marked on the following criteria:
1.Knowledge & understanding of Sim Venture Ideation Process (40%)
2.Analysis & argumentation (30%)
3.Use of supporting literature (20%)
4.Presentation and format (10%)
You must provide supporting evidence for your arguments and wide range of resources including academic literature, textbooks and so on.
The essay should be submitted on Tuesday 5th November 2024 by 14.00pm. (See marking Rubric below for more detailed guidance)
| Grade | Knowledge & understanding of Sim Venture Validate Ideation Process (40%) | Analysis & argumentation (30%) | Use of supporting literature (20%) | Presentation and format (10%) |
70-100% | Excellent knowledge and understanding of Sim Venture Validate Ideation process. Clear evidence of using and selecting appropriate images for idea evaluation process. (28 - 40) | A thorough, coherent, rigorous and well- structured argument, showing evidence of a clear understanding and analysis of business idea evaluation process. (21 - 30) | Evidence of a comprehensive literature search having been undertaken. Key sources have been consulted, relevant issues identified, and integrated appropriately into the essay to support arguments made. (14 - 20) | Well organized presentation and structure. High level of competence in the use of language, almost completely free from grammatical and typographical errors. Referencing and citations correct. (7 - 10) |
60-69% | Good knowledge and understanding of Sim Venture Validate Ideation process. Sound evidence of using and selecting appropriate images for idea evaluation process. All the steps are followed with minor inaccuracies. (24 - 28) | Sound coverage of business idea validation presented as a reasonably well-structured discussion. A few gaps in coverage, and/or minor inaccuracies in information presented. Slight lack of depth in argumentation. (18 - 21) | Evidence of quite an extensive a literature search having been undertaken, but a few key sources missed. A few relevant issues missed and/or not always appropriately integrated into the essay to support arguments made. A few aspects of the literature analysis tending to be rather superficial. (12 - 14) | Good presentation and structure. Competent use of language, and generally free from grammatical and typographical errors. Referencing and citations largely correct. (6 - 7) |
50-59% | Satisfactory knowledge and understanding of Sim Venture Validate Ideation process. Satisfactory evidence of using and selecting appropriate images for idea evaluation process. (20 - 24) | Reasonable coverage of some relevant business ideas, with a reasonable attempt made to structure into a discussion. Some gaps in coverage, and/or inaccuracies in information presented. Lack of depth in argumentation. (15 - 18) | Evidence of some key literature sources having been consulted. Slight tendency to rely on textbooks and/or websites, rather than academic journals and other research papers/reports. Some relevant issues identified, and a reasonable attempt made to integrate them into the essay to support arguments made. Some aspects of the literature analysis tending to be rather superficial. (10 - 12) | Generally satisfactory structure and presentation. Competent use of language, but some grammatical and typographical errors. Referencing and citations are generally correct. (5 - 6) |
40-49% | Adequate knowledge and understanding of Sim Venture Validate Ideation process. Adequate evidence of using and selecting appropriate images for idea evaluation process. (16 - 20) | Coverage of relevant business ideas not particularly extensive and not much attempt made to structure information into a discussion. Considerable gaps in coverage and/or significant inaccuracies in information presented. Rather superficial argumentation, with a slight tendency towards description rather than careful analysis. (12 - 15) | Evidence of only a limited range of literature sources having been consulted. Strong tendency to rely on textbooks and/or websites, rather than academic journals and other research papers/reports. Limited number of relevant issues identified. Some attempt made to integrate them into the essay to support arguments made. Many aspects of the literature analysis tending to be rather superficial. (8 - 10) | Some problems in structure and layout, with some grammatical and typographical errors. Some errors in referencing and citations. (4 - 5) |
35-39% | Poor approach which does not show the required level of knowledge and understanding around Sim Venture validate ideation process. To improve the work: Read more widely to improve your knowledge of entrepreneurship concepts. Use Sim Venture Ideation process. (14 - 16) | Limited coverage of relevant business ideas. Poorly structured discussion. Some key omissions and/or inaccuracies. Superficial and/or flawed argumentation. Tendency towards description rather than careful analysis. (10.5 - 12) | Evidence of only a very limited range of literature sources having been consulted. Sources almost exclusively restricted to textbooks and/or websites, rather than academic journals and other research papers/reports. Few relevant issues identified, and/or little attempt made to integrate them into the essay to support arguments made. Literature analysis largely superficial. (7 - 8) | Considerable problems in structure and presentation, with many grammatical and typographical errors. Referencing incomplete and many citations incorrect. (3.5 - 4) |
0-34% | Unsatisfactory work which does not show the required level of knowledge and understanding around Sim Venture validate Ideation process. To improve the work: Engage with entrepreneurship materials given throughout the course. (0 – 13.5) | Very limited coverage of relevant business ideas. Little attempt made to present a structured discussion. Significant omissions and/or inaccuracies. Highly descriptive, lacking depth of analysis. (0 – 10.5) | Little evidence of any key literature sources having been consulted. Very few relevant issues identified, and/or little or no attempt made to integrate them into the essay to support arguments made. Literature analysis superficial. (0 – 6.5) | Very considerable problems in structure and presentation, with significant number of grammatical and typographical errors. Referencing incomplete and many citations incorrect. (0 – 3.5) |
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