entrepreneurship

COURSE CODE BCO215 COURSE NAME Entrepreneurship & New Venture Creation Mid-Term Task brief & rubrics

Task

Include all details of the task, including:

• This is an individual task

• Both questions in all 4 sections should be attempted

• Question 1 in each section focuses on knowledge

• Question 2 in each section focuses on application

• Each section is equally weighted (25% each of task total)

• The task must be spell and grammar checked prior to upload

Formalities:

• Wordcount: Each section should be between 500-600 words

• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.

• Font: Arial 12,5 pts.

• Text alignment: Justified.

• Harvard citation style referencing (in-text References and Bibliography)

Submission: Week 4 – Via Moodle (Turnitin). 21st June by 23.59

Weight: This task is a 40% of your total grade for this subject.

It assesses the following learning outcomes:

• Outcome 1: demonstrate understanding of the concept of entrepreneurship and main traits of an entrepreneur

• Outcome 2: categorize and assess business opportunities and their feasibility

• Outcome 3: apply appropriate analytical frameworks

• Outcome 4: demonstrate analytical and conceptual skills

Section 1. Introduction to Entrepreneurship:

1. How can one differentiate an entrepreneurial firm from any other type of firm?

2. Karen Jenkins has a good job working for the City of Barcelona but is weary of 2 percent per year pay raises. Because she has read magazine articles

about young entrepreneurs becoming extremely wealthy, she decides to start her own firm. Do you think Karen is starting a firm for the right reason? Do

you think the money she likely will earn will disappoint her? Do you think Karen’s reason for starting a firm will contribute in a positive manner or a

negative manner to the tenacity that is required to successfully launch and run an entrepreneurial firm?

Section 2. Developing Successful Business New Ideas

1. What general environmental trends are most instrumental in creating business opportunities? Provide an example of each environmental trend and the

type of business opportunity that it might help create.

2. Tammy, a product development specialist at Procter & Gamble, plans to write an e-mail message to her father asking for a loan. The purpose of the loan

will be to start a company to sell an environmentally friendly line of home cleaning supplies that Tammy has spent the past two years developing in her

spare time. Tammy wants to convince her father that the idea represents an attractive business opportunity. In your opinion, what should Tammy

include in the e-mail message?

Section 3. Moving from Idea to Opportunity

1. What is the difference between the industry analysis and the market analysis section of a business plan?

2. Starbucks has been very successful selling high-priced coffee despite the fact that consumers could easily substitute Starbucks coffee for less expensive

coffee or substitute its coffee for less expensive drinks like soda, bottled water, or fitness drinks. Why do you think Starbucks has historically been so

successful avoiding substitutes? Do you think its advantage is eroding in this area? If so why? If its advantage is eroding, what could the firm do to

change this situation?

Section 4. Issues Confronting New Ventures

1. Why is it important for firms to sell the “benefits” of its products rather than the “features?”

2. Imagine you’re opening a new pizza and sandwich restaurant near the campus you are attending. Suggest six ways to market your restaurant that don’t

include newspaper, radio, or television advertising.

Rubrics

Exceptional 90-100 Good 80-89 Fair 70-79 Marginal fail 60-69

Knowledge & Understanding

(40%)

Student demonstrates excellent understanding of key concepts and uses vocabulary in an entirely appropriate manner.

Student demonstrates good understanding of the task and mentions some relevant concepts and demonstrates use of the relevant vocabulary.

Student understands the task and provides minimum theory and/or some use of vocabulary.

Student understands the task and attempts to answer the question but does not mention key concepts or uses minimum amount of relevant vocabulary.

Application (20%) Student applies fully relevant knowledge from the topics delivered in class.

Student applies mostly relevant knowledge from the topics delivered in class.

Student applies some relevant knowledge from the topics delivered in class. Misunderstanding may be evident.

Student applies little relevant knowledge from the topics delivered in class. Misunderstands are evident.

Critical Thinking (20%)

Student critically assesses in excellent ways, drawing outstanding conclusions from relevant authors.

Student critically assesses in good ways, drawing conclusions from relevant authors and references.

Student provides some insights but stays on the surface of the topic. References may not be relevant.

Student makes little or none critical thinking insights, does not quote appropriate authors, and does not provide valid sources.

Communication (20%)

Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some misspelling errors may be evident.

Student communicates their ideas in a somewhat unclear and unconcise way. Does not reach or does exceed wordcount excessively and misspelling errors are evident.