Developing a Business Plan for an Innovative Product - Assessment Brief

Learning Outcomes Assessed:

LO3: Develop and justify a plan for a business opportunity

LO4: Analyse support and resource requirements, as well as potential risks and barriers, in relation to a business opportunity

Assessment Brief:

You are required to develop business plan for an innovative product (good or service) of your choice.

Your aim should be to address the following issues:

1.Justification of the value of the opportunity being developed

2.An assessment of the external environment in relation to the opportunity

3.An analysis of limiting and enabling factors in relation to the exploitation of the opportunity

4.A consideration of the major functional elements of the business including Production, Marketing and Financial Strategy/Plan

Submission Instructions:

In Module Guide, see Section 12 Guidelines for the Preparation and Submission of written coursework, which will give you details on how to submit your work electronically. You are required to submit only electronic copies of your written assessments, unless your Module Tutor advises you otherwise.

Advice:

• Do not cut and paste phrases or paragraphs from published sources. You should seek to use your own words to explain concepts and theory.
• If you wish to refer to specific quotes from published sources, then you must use full Harvard presentation. See BISSTO for clear guidance.
• Do not share work with other students.

Specific Assessment Criteria (See page 4 for General Assessment Criteria)

Excellent (70%+): The report will be of a high standard and will reflect a comprehensive understanding of the key concepts and the application of extensive reading. They will address the specific issues outlined in the assignment brief about enterprise culture, creativity and innovation. The report will demonstrate competent planning/structure, clear diction, enthusiastic arguments and an effective use of supplementary theoretical and practice-based evidence to support arguments. The report will contain minimal errors in spelling and grammar and will be accessible to readers from a range of cultural and social backgrounds.

Very Good (60-69%): The report will cover the salient points on enterprise culture creativity and innovation from the assignment brief and will reflect a good understanding of the literature around these key concepts. The report will be clear, informative and attempt to develop a coherent argument. It will be well written and presented in a structured and readable style.

Good (50-59%) A reasonable attempt will be made to prepare and deliver the report but it will be under-developed and will not consistently reflect the level of understanding required for this level.

Satisfactory (40-49%): The content of the report will be mostly irrelevant to the assessment task and/or not organised in a way that address key requirements.

Fail (Below 40%): Students who do not meet the requirements of a third-class grade will not successfully complete the assessment activity.