3,000 words Opportunity Report and Pitch

Assignment 2 Opportunity Report and Pitch

KEY IN FOR MA TION

Due date Refer to the Learning Management System

Weighting 65%

Relevant chapters 1 9

Assessment format Report (Submit .doc/.docx format) and 5-Minute Presentation

Length 3,000 words (10% allowable either way, does not include title page,

table of contents, appendix and references)

Specific requirements Minimum 15 references. Include academic journals, papers and books

sourced from the library or other university resources. Use APA 7th

edition or Chicago Style

LE ARNIN G OU TCOME S

On completion of this unit, students will be able to:

1. Critically evaluate major theories and models of entrepreneurship and innovation management;

2. Identify and assess the characteristics of effective entrepreneurs and innovators;

3. Appraise and appreciate the challenges faced by entrepreneurs and utilise strategies to overcome

them;

4. Theorise how strategic innovation practices contribute to clear differentiated positioning; and

5. Reflect on the different stages as well as challenges through the innovation process.

GR ADUATE AT TR IB UTE S

• Define the problem: graduates will be able to understand the broad context and complexity of an

industry and the resultant challenges faced by its constituents. Students will be able to frame complex industry problems and effectively communicate them to others possessing both specialist and non-

specialist expertise.

• Gather and analyse evidence: graduates will develop and refine skills of efficiently collecting, analysing

and synthesising data required to identify and illuminate the roots of complex industry challenges

though both qualitative and quantitative approaches.

• Demonstrate management: graduates will develop project management knowledge and skills and then

administer projects by drawing on practical experience and theoretical approaches to management. They will be able to critically apply leading management theories to specific project contexts in order to

effectively achieve project goals.

• Develop strategic vision: graduates will develop frameworks for achieving organisational change

drawing on innovative and entrepreneurial solutions. They will develop strategic visions that identify business opportunities and appropriately incorporate relevant risk reasoning into proposed business

solutions.

• Demonstrate leadership: graduates will be able to communicate vision effectively and mitigate

implementation risks to achieve effective change management through both creative and pragmatic

approaches. Graduates will be prepared for leading organisational change.

• Develop knowledge and skills applicable for business and industry. They will have advanced

understanding of the rapidly changing business world and will be able to critically analyse business problems, apply theory to identify and implement solutions.

BRIE F

Prepare a proposal (3,000 words) for a new venture idea for your own business or a new or innovative idea

relevant to your current industry. You will also create a pitch presentation for your business or idea.

ASSIGN ME NT IN FOR MA TION

For this assignment, you are required develop and propose a new venture idea for your own business or a new

or innovative idea relevant to your current industry resulting in a solution to a problem. Since you have only a

limited amount of time to work on your idea proposal, you are not expected to complete a tested, ready-for-

investment proposal but rather a well-thought-out idea. This assignment includes two parts: a proposal and

pitch presentation.

Part One: Opportunity Proposal Report

For your report, you will need to identify a problem, a set of stakeholders who could/should do something, and

a potential pathway to implementation. Also, you are expected to use design thinking process, lean start up

theory and business model canvas to guide your proposal. For your proposal report, you should include the

following sections:

1. Identify the Problem

a. Explain the problem you need to solve and why it is a problem.

2. Product or Service Analysis

a. Explain how you know this is a problem.

b. Identify the customers (people who are affected by the problem)

c. Identify everyone in the distribution chain

3. Stakeholders - Identify your stakeholders. Every entrepreneurial initiative needs an owner or

champion. This might be yourself (alone or with others involved in the startup), your company (ideally

identify a role that would own the initiative) or another company that is well-placed to act on the

opportunity.

4. Design Thinking Process - Describe the stages of your design thinking process. You should focus

only on the first three stages: empathise, design, and ideate.

5. Description of Solution - Describe the potential solution.

a. Explain why you have chosen your solution.

b. Explain how it solves the company’s viability, competition, capability, etc.

6. Explain the value proposition - What value do you provide your customer?

a. Each customer should have a separate value proposition.

7. Draft Business Model – Complete a Business Model Canvas.

8. Validation - What evidence have you found to provide support for your proposed solution, value

proposition, and business model? Include the justification for your proposal by including research and

any insights.

9. Testing - Explain what the most important assumptions are you have made and how you could test it

as quickly and inexpensively as possible (minimal viable product).

10. Financial Model – Explain how your idea or business will make money. Try to quantify any revenues

and costs in your Business Model Canvas.

11. Challenges and Strategies – Identify any challenges you anticipate and the strategies you will utilise

to manage or overcome the challenges.

Consider the Potential Need to Pivot

If you have conducted all your research and concluded your potential solution is not viable, this outcome is

okay. You should state that at this point you chose to ‘pivot’ to a different business model and explain why.

You do not have to start all over again but instead explain the flaws you discovered in your original idea. Then

identify alternative business models that you would explore next. For example, you may suggest a different

customer segment, a different pricing mechanism (e.g. subscription versus sale) an alliance with another

company, etc. Finally, think about this assignment using the “What, So What, and Now What” framework.

What? So What? Now What?

What is the problem to solve and

how would you solve it?

What is the research or evidence

supporting your proposition? How

does this research support and/or

challenge your idea?

Using the research gathered,

develop a business model that

outlines how your idea could be

developed as a financially

sustainable opportunity.

Part Two: Pitch Presentation

Complete a 5-minute pitch presentation summarizing your proposal report. The presentation or pitch deck

should be designed as if you are presenting it in-person to either investors, key stakeholders, or your boss.

You are expected to design and record a narration of your presentation. See below for guidelines and

instructions.

The presentation should follow either the Business Model Canvas or Lean Canvas outline, noted below.

Include one slide for each of your chosen canvas cells. You may include additional non-canvas slides, if you

feel it adds value.

Note: Your ability to articulate your ideas clearly and professionally is vital in business. Pay attention to the

details and make the presentation as engaging as possible.

Business Model Canvas Lean Canvas

Value proposition: Includes problem and solution

(may be split into two slides)

Problem

Customer Segments Solution

Channels Value Proposition

Revenue Streams* Customer Segments

Cost Structure* Unfair advantage

Customer Relationships Revenue Streams

Key Activities** Channels

Key Resources** Key Metrics

Key Partners** Cost Structure*

Assignment 2 Opportunity Report and Pitch

* Revenue streams and cost structures do not have to be quantified, but the main items should be listed and

some justification given that revenues will exceed costs.

** These items are optional. It is expected that you will include at least one of these three depending on the

nature of the business you are modelling.

Presentati on Ins tr ucti ons

For this assignment, you will record a slide presentation with audio and video and submit it for review. There

are many presentation software and tools available to complete this assignment. Please review the resources

below for assistance.

Please note: Canvas is limited to a maximum file size of 500MB for media files. If your presentation recording

exceeds this limit, you are able to upload the file to another site and submit a website URL.

Recording Presentation Resources

Using Microsoft PowerPoint to Record a Presentation

Using Microsoft Teams to Record a Meeting

Play and Share a Meeting Recording in Teams

Using Panopto Express to Record a PowerPoint Presentation

How do I record media using Canvas Rich Content Editor as a student?

Uploading Recorded Presentation into Canvas

How do I upload and embed media from an external source in Canvas Rich Content Editor as a

student?

How do I enter a URL as an assignment submission for a course using Assignment Enhancements?

How do I embed media files from Canvas into the Rich Content Editor as a student?

How do I manage video options in the Canvas Rich Content Editor as a student?

What types of media files can I upload in Canvas as a student?