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LO1: Demonstrate how the principles of creativity, innovation and entrepreneurship convert into new processes, products or services.
LUBM302- New Venture Creation Assessment Canvas Deadline: Tuesday 12th November 2024 by 14.00pm Learning outcomes
At the end of this module, you will be able to:
LO1:
LO2:
LO3:
LO4:
LO5:
Assessment Method
Sim Venture Validate: Business Model Canvas (BMC) and Start-up portfolio.
Successful completion of the module’s learning outcomes will be evidenced by 3,000 start-up portfolios.
You are asked to develop a group/team startup portfolio, not exceeding 3,000 words excluding references. You are required to work in teams/groups (comprising No MORE THAN three members). However, you are asked to submit the start-up portfolio individually. The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline. 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
By using Sim Venture Validate, you are asked to develop, plan, test, and share entrepreneurial and innovative idea. To do so, you are required to complete the following tasks:
You are asked to map out your entrepreneurial idea using the interactive Business Model Canvas within Sim Venture Validate. You are required to build the business model using the 10 blocks of the Business Model Canvas.
Identify and test critical assumptions.
Present and share a customizable startup portfolio.
Download the start-up portfolio by clicking Export button in the Sim Venture platform. You are required to export either pdf OR word file and submit to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline.
Sim Venture Account
To complete LUBM302 assessment you MUST use Sim Venture Validate Online Platform . Your business ideas can be developed, mapped, tested, and shared using Sim Venture Validate. 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_in Links to an external site.
See below for details Guidance on Business Start-up portfolio, Assessment Criteria and Markin g Rubric.
Guidance Note
The business idea can be real or imaginary. You are not allowed to use existing business idea/business plan to complete the assessment. The chosen opportunity/idea may relate to a project you are already working on, or an idea developed and refined during the ideation process
You can complete the assessment in a group (up to 3). 3,000 words excluding references. You are required to work in teams/groups (comprising No MORE THAN three members). However, you are asked to submit the start-up portfolio individually. The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline. Accordingly, your name and your Sunderland Student ID number should be included on the front cover of your submission.
The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline.
You are required to watch the following video:
https://www.youtube.com/watch?v=3f6uWkwlpFc&list=PLSsP2bQOgaaAzLKzqmcmLhN 2fCwoWoahw&index=5
You are required just to submit a start-up portfolio. You are advised to write up to 3,000 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. Suggested assessment criteria include:
Clarity, consistency, and originality of value proposition(s)
Clear identification of target market segment(s)
Comprehensiveness of market and competitor analysis
Comprehensiveness of research and testing the business idea
Comprehensiveness and accuracy of financial projections
Comprehensive identification of resources required and financing.
Overall presentation
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.
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.
The start-up portfolio should be submitted on Tuesday 12th November 2024 by 14:00pm.
For advice on 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/
The Start-up Portfolio Marking Criteria/Scheme
q The assessment for this module draws on your reading and learning from the lecture and workshop sessions. You are asked to develop a start-up portfolio, not exceeding 3,000 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.
Marking Criteria (ALL aspects detailed in each section MUST be included)
q Executive Summary, Management Team -- Provides a concise, thorough overview and effectively outlines main points of the plan. Structured, logical, well presented. Details of ownership and management of the Business, Organisational chart, roles of team members, skills, qualifications, training needs and interests that can be used to best effect for the business venture (15 marks)
q Business/Company Description -- Business name, description of the product(s)/service(s), company’s vision, mission and objectives, unique benefits/value proposition, intellectual property details. (20 marks)
q Opportunity Analysis, Research & Testing your Business Idea -- Explanation and justification of the market chosen, market research conducted, industry analysis, evaluation of the competition, Primary research conducted (20 marks)
q Financial Plan -- Sources of funding identified, include Cash Flow Forecast, Profit and Loss Statement, Balance Sheet for a one-year period, explain contingency plan and growth aims and Breakeven analysis. (15 marks)
q Knowledge & understanding of the Business Model Canvas -- Key components of Business Model critically evaluated and discussed in the start-up portfolio (30 marks)
(See marking Rubric below for more detailed guidance)
LUBM302: New Venture Creation- Marking Rubric
Grade
Business/Company Description (20%)
Opportunity Analysis, Research & Testing (20%)
Financial Plan (15%)
Knowledge & understanding of the Business Model Canvas (30%)
Executive Summary & Management Team (15%)
70-
100%
The start-up idea presented is creative and effective. Excellent demonstration of company’s mission, vision, and objectives; fully outlines the reasons for launching the business and describes product/service offered; clearly and convincingly articulates the company’s distinctive value proposition.
(14 - 20)
The start-up portfolio provided a comprehensive analysis of industry, explanation and justification of the market chosen, and major competitors. Effectively identifies target market and consumer demographics, and fully describes niche in which the company will operate.
Robust, critical analysis supported by substantial primary and secondary research that is clearly focused on critical uncertainties appropriate to current stage.
(14 - 20)
The start-up portfolio presented an accurate, realistic, and achievable financial plan. The plan effectively identified possible sources of initial financing. The plan included fully supported cashflow forecast, profit and loss statement, balance sheet, contingency plan and growth aims.
(10.50- 15)
A critical evaluation of a fully developed Business Model that identifies possible sources of sustained competitive advantage. Demonstrate how the principles of creativity, innovation and entrepreneurship convert into new processes, products or services.
(21 - 30)
Executive summary is clear, concise, and effective; summary provides a thorough overview of the business. The business portfolio effectively outlined and clearly described the management team, company structure and operations; details the roles, responsibilities, qualifications, and relevant expertise of key members of the management team.
(10.50- 15)
60-
69%
The start-up idea is clearly presented.
Detailed reason for launch, description of service/ product offered, company’s vision, mission, objectives, and value proposition are clearly outlined.
(12 - 14)
The start-up portfolio provided a good analysis of
industry, explanation and justification of the market chosen, and major competitors. Clearly identified target market and consumer demographics and describes niche in which the company will operate. Appropriate use of secondary data but primary data is relatively weak (e.g. limited to simple surveys) or poorly focused.
(12 - 14)
The start-up portfolio presented an achievable
financial plan. The plan clearly identified possible sources of initial financing. The plan included cashflow forecast, profit and loss statement, balance sheet, contingency plan and growth aims, but some details are not described.
(9-10.50)
Key components of Business Model critically
evaluated and discussed.
(18 - 21)
Executive summary provides a clear
overview and outlines main points of the plan. The business portfolio clearly outlined the management team, company structure and operations; details the roles, responsibilities, qualifications, and relevant expertise of key members of the management team.
(9-10.50)
50-
59%
The start-up idea is presented with a few minor omissions. The business plan describes the reasons for starting the business, product or service offered, the company’s value proposition is described, but is less than fully developed; business description is lacking some detail but meets minimum standards.
(10 - 12)
The start-up portfolio described major characteristics of the industry, but analysis is limited or missing few elements. A reasonable attempt to address key uncertainties through secondary data but little of no evidence of engagement with potential customers.
(10 - 12)
The start-up portfolio outlined the principal financial elements, but analysis is limited or missing a few minor components. The plan included cashflow forecast, profit and loss statement, balance sheet, contingency plan and growth aims, but some details are not clearly presented and justified.
(7.50- 9)
Key dimensions of Business Model described and inadequate discussion.
(15 - 18)
Executive summary provides a satisfactory overview of the business; summary is missing a few minor points but meets expectations. A management plan is outlined, but less than fully described; the plan outlines some important characteristics of members of the management team but is missing a few minor elements.
(7.50- 9)
40-
49%
The start-up idea is not clearly
presented. Detailed reason for launch, description of service/ product offered, company’s vision, mission, objectives, and value proposition are not clearly outlined.
(8 - 10)
The start-up portfolio described some characteristics of
the industry, but analysis is very limited or missing many elements. Coherent but largely speculative findings that are based on sensible assumptions but not supported by appropriate primary or secondary research.
(8 - 10)
The start-up portfolio outlined some financial
elements, but analysis is very limited or missing some components. The cashflow forecast, profit and loss statement, balance sheet, contingency plan and growth aims are not included, or very limited details are provided.
(6-7.50)
Business Model Canvas included without
discussion.
(12 - 15)
Executive summary does not present a
clear overview of the business; main points are not outlined or cannot be understood. A management plan is outlined, but the description provided is very limited; the plan outlines few important characteristics of members of the management team but is missing many elements.
(6-7.50)
35-
39%
The portfolio is missing a business description, or description of the business is vague and inadequately developed; few if any details are provided regarding product/service offered; does not clearly describe the benefits of the good/service offered.
(7 - 8)
Industry analysis is not provided, is inadequate, or is incomplete in significant respects; evaluation of important industry characteristics is lacking in detail. Unconvincing and/or poorly focused research that does not address the most critical questions appropriate to the current stage and status of this investigation.
(7 - 8)
Financial plan is not provided, or is inadequate, unrealistic, or incomplete in significant respects; analyses of and/or projections for key components of the financial plan are inaccurate, not developed, and/or lacking detail.
(5.5- 6 )
Business Model Canvas is partial or incomplete.
(10.50 - 12)
Poor executive summary: main points are not outlined or cannot be understood. A management plan is not provided, or is inadequate, imprecise, or incomplete in significant respects; description of important characteristics of members of the management team is vague and lacking detail.
(5.5- 6 )
0- 34%
Unsatisfactory work which does not show
the required level of knowledge and understanding. To improve the work: Engage with New Venture Creation (LUBM302) materials given throughout the course.
(0 – 7)
Very limited coverage of industry, market, and competitors.
Little attempt made to present a structured discussion. Significant omissions and/or inaccuracies. Highly descriptive, lacking depth of analysis. The testing plan is not provided, or is missing important elements, is unrealistic, and/or is incorrectly prepared.
(0 – 7)
Unsatisfactory work which does not show the
required level of knowledge and understanding. Financial plan is missing, or unrealistic, or incomplete in significant respects.
(0- 5.5)
Business Model Canvas missing or
unsatisfactory work which does not show the required level of knowledge and understanding. To improve the work: Engage with New Venture Creation (LUBM302) materials given throughout the course.
(0 – 10.50)
Executive summary is missing in the
business plan. Unsatisfactory work which does not show the required level of knowledge and understanding. A management plan is missing, or is inadequate, imprecise, or incomplete.
(0- 5.5)
LUBM302- New Venture Creation Assessment
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