Enterprise for Sport and Health

Assignment details

You are required to work as an individual to design a sport related product or service for either a sports participant or sports fan (supporters). In line with the diversity of the sports industry this new product/service can be developed for an existing organisation (social enterprise, public or private sector) or set up as a new organisation (Private or not for profit).

The product may be anything you wish but you should consider the following carefully:

· The product/service value proposition (what it is and how it is going to add value or solve a problem);

· The likely target market / customer segments for your product and the relationships you will need;

· The channels through which the customers will access your product/service;

· What key partners, activities and resources you need to produce your product/service

· What are your key costs going to be?

· How are you going to generate revenue (i.e. what is your business model)?

The key project deliverables are the components of the project that are required in order for the project to be considered to have met the minimum specification required.

PORT1

Deliverable 1 –Written report (1500 words) on new service/product

A report of 2000 words will need to be submitted that represents the planning detail of your new service or product idea. The report will need to reflect and outline the key mission, vision and values of the new or existing organisation and will contain three further detailed sections about the new service or product.

Section 1 – Executive Summary (250 words)

· Organisation Mission

· Organisation Vision

· Organisation Values

Section 2 Product/service specification (1250 words)

· CONCEPT

A clear description of their product with details of key features and functions including how it will provide value for their target customer group evidence to be provided to demonstrate why this is a problem/issue for the intended target customers.

· CUSTOMER –

Clear identification of a customer segment. Knowledge and understanding of the customer including size of the market and their characteristics. Appropriate citations and evidence should be provided to support their claims/assumptions

Customer relationships: There should be a clear indication of the type of relationship the group intend to form with their customers (e.g. self-service, automation, personal assistance).

· COMPETITORS

Key Competitor Analysis using at least one element of Porters 5 forces model with up to three competitors identified and profiled.

· RESOURCES, PARTNERS & STAKEHOLDERS

Key resources you need to produce your product/service: A clear description of the important assets needed to make the business model work (physical, intellectual, human, financial)

Key Partners and stakeholders to deliver the idea: A clear description of the most important network of suppliers and partners that will make the business model work. This should include key activities or resources required from partners an why (e.g. strategic alliances, reduction of risk, venue hire, sales platform).

· COSTS -BUSINESS MODEL

A clear outline of the major fixed and variable costs to produce the product/service. These initial assumptions should be realistic and accurate with evidence of some appropriate research to support their assumptions.

A clear description of how the group intends to generate income from their customers or other related partners. A clear revenue strategy should be evident (e.g. subscription fees, renting, licencing, advertising, direct sales) with an indication of pricing. These ideas/assumptions should be appropriate for the customer target group. Again this section should have clear evidence to support their assumptions/ideas.

Deliverable 2 – Self Evaluation Report

Each group member to submit a Peer Evaluation Report. This will include two elements.

1. A contribution audit Rubric to support marking below. (500 words)

Templated Activity all sections to be marked including

· Entrepreneurial intention review

· ENTREComp reflection and action plans for Opportunity identification

· ENTREComp reflection and action plans for Resource Management

· ENTREComp reflection and action plans for In to Action

Generic Guidance

1. Research-informed Literature

Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set. You should provide evidence that you have accessed a wide range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current and up-to-date, typically published within the last five years or so, though seminal works in the field may be older. You must provide evidence of your research/own reading throughout your work, using in-text citations in the main body of your work and a reference list that is alphabetical at the end of your work. Please use the Harvard referencing system.

Specific to this assignment: Any sources of data used in your plan should be accredited via citations where relevant. Wide reading will need to be evidenced in deliverable 1 and 2.

1. Knowledge and Understanding of Subject

Your work must demonstrate the growing extent of your knowledge and understanding of concepts and underlying principles associated with the subject area. Knowledge relates to the facts, information and skills you have acquired through your learning. You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. You should be able to explain the theories, concepts, etc. meaningfully to show your understanding. Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding; ideally each should be complete and detailed, with comprehensive coverage.

Specific to this assignment: Based on your knowledge of the subject you should select appropriate techniques, models and/or theories in the following areas: research (primary and secondary); the business environment (competitive analysis such as Porter’s 5 forces model); marketing (SWOT and PESTEL); finance (cash flow forecasting); marketing; structures (legal form); and entrepreneurship (skills needed) to produce a convincing business case and model. You do not need to explain in depth the models, as this assignment is weighted more towards analysis and practical application.

1. Analysis

Your work must contain evidence of logical, analytical thinking, evaluation and synthesis. For example, to examine and break information down into parts, make inferences, compile, compare and contrast information. This means not just describing What! but also justifying: Why? How? When? Who? Where? At all times, you must provide justification for your arguments and judgements. Evidence that you have reflected upon the ideas of others within the subject area is crucial to you providing a reasoned and informed debate within your work. Furthermore, you should provide evidence that you are able to make sound judgements and convincing arguments using data and concepts. Sound, valid conclusions are necessary and must be derived from the content of your work. There should be no new information presented within your conclusion. Where relevant, alternative solutions and recommendations may be proposed.

Specific to this assignment : After you have applied the models to your business idea, you will need to prepare a persuasive pitch and convincing business plan. You must be able to justify and defend your proposals to potential investors.

1. Practical Application and Deployment

You should be able to demonstrate how the subject-related concepts and ideas relate to real world situations or a particular context. How do they work in practice? You will deploy models, methods, techniques, and/or theories, in that context, to assess current situations, perhaps to formulate plans or solutions to solve problems, some of which may be innovative and creative. This is likely to involve, for instance, the use of real world examples and cases, the application of a model within an organisation and/or benchmarking one organisation against others based on stated criteria. You should show awareness of the limitations of concepts and theories when applied in particular contexts.

Specific to this assignment: You will have to apply concepts and theories to create a real plan to solve a business problem or fill gap in the market place. Your business idea does not have to be a completely new but creativity and innovation will be rewarded.

1. Skills for Professional Practice

Your work must provide evidence of the attributes expected in professional practice. This includes demonstrating your individual initiative and/or collaborative working. You must communicate effectively in a suitable format, which may be written and/or oral, for example, essay, management report, presentation. Work should be coherent and well-structured in presentation and organisation.

Specific to this assignment: This assignment will involve proposal writing.

The Service/product Plan should be in report format with a table of contents. Although Business Plans do vary in format it should, at the very least include separate heading for: Executive Summary, Company Description, Product or Service, Market Analysis, Strategy and Implementation, Web Plan Summary, Management Team and Financial Analysis. A font of Times New Roman 12 or Arial 11 Point should be used. All graphs, charts and figures in the main body must be clearly referenced beside or beneath. Where possible they should not be on separate pages but should be incorporated within the text.

A personal review must be submitted with the plan

Essential Resources:

· Resources listed on the lecture schedule and on Moodle