ardiff Metropolitan University .

Cardiff Metropolitan University MODULE TITLE: – ENTREPRENEURSHIP PROGRAMME: BABS SEMESTER: Semester Five ACADEMIC YEAR PERIOD: NOVEMBER 2015 to JANUARY 2016 LECTURER SETTING ASSESSMENT: – Dr Paul L. Reynolds DATE ASSESSMENT SET AND LOADED ON TO STUDENT PORTAL:- 20/09/2016 DATE ASSESSMENT TO BE COMPLETED AND SUBMITTED:- 20/10/2016 SUBMISSION METHOD/MODE:- Online via Turn-it-in, in person —————————————————————————————————————- Assessment Type: There are two individual assignments each worth 50% of the available marks for the module as a whole. Students’ are to present in report format. 1. Using an entrepreneurial service sector start-up new venture of your choice produce an individual business assignment in the form of a written report on the subject of financing a new service sector ‘start–up’ entrepreneurial venture. You are to critically examine the funding alternatives available to the entrepreneur with particular consideration of ‘factoring’ as a source of financing and; 2. Produce an individual report that will contain the construction of a case study of the entrepreneurial service sector start-up new venture discussed in Assignment 1 and a business plan showing proposals on how to achieve an appropriate sales capability for your new firm. This should include personal and non-personal selling factors. Budget constraints should be alluded to. ———————————————————————————————————————– Indicative Assessment Requirements for the Module;- There are two individual assignments (of 2,000 words each). Students’ are to submit in report format. ———————————————————————————————————————–   Module Learning Outcomes to be Assessed:- Learning Outcomes for the module are coded L1 to L7 below. Upon successful completion of the module the students will be able to: L1. Identify and determine the driving forces in a new venture. L2. Analyse how successful entrepreneurs and investors create, find, and differentiate profitable and durable opportunities; in particular, how they tell these opportunities apart from just “other good ideas”. L3. Evaluate and determine how successful entrepreneurs and investors create and build value for themselves and others. L4. Identify and determine the necessary financial and non-financial resources available for new ventures; the criteria used to screen and evaluate proposals, their attractiveness and risk, and know how to obtain start-up and early growth capital. L5. Determine the critical tasks to be accomplished, the hurdles to be overcome during start-up and early growth, and what has to happen to ensure success. L6. Apply the opportunity screening criteria to actual start-up ideas, and subsequently develop a business plan suitable for presentation to investors and industry participants. L7. Develop and analyse integrated financial projections for a start-up venture. Assignment Question 1 (To assess L1, L3, L4, L5, L6 and L7) Subject: Conduct a critical examination and discussion of the possible funding arrangements for a ‘start-up’ B2B sector new entrepreneurial venture. Task: Select a ‘start-up’ service sector new entrepreneurial venture of your choice. Using this new venture critically examine and discuss the funding options open to small firms in the start-up phase of a new entrepreneurial venture within the service sector. Compare and contrast the different options available and critically consider the advantages and disadvantages of each option. Pay particular attention to the ‘factoring’ (discounting) option available from most banks and other finance firms’ offering ‘factoring’ services. Use the specific start-up of your choice as a vehicle for critical examination, comparison, evaluation and discussion. STUDENT GUIDELINES FOR ASSIGNMENT CRITERIA RE: QUESTION ONE THIS IS HOW THE MARKS FOR YOUR QUESTION ONE ASSIGNMENT ARE TO BE ALLOCATED WHEN MARKED SO PLEASE FOLLOW THESE GUIDELINES. • Demonstrating and employing your knowledge of entrepreneurship and your entrepreneurial skills developed on the course within the assignment. (Up to 10 marks) • Critically examines and discusses the funding options available to the new start-up firm. (Up to 10 marks) • Provides a critical evaluation and comparison of the funding options available. (Up to 10 marks) • Pays particular attention to factoring (discounting) for investment and working capital finance and compares this method of financing to other more conventional options such as using venture capitalist funds and bank financing. (Up to 10 marks) • Provides a critical evaluation of the advantages and disadvantages of the funding options available in relation to the specific start-up service sector new venture under consideration. (Up to 10 marks) • Makes use of relevant conceptual models and analytical frameworks to help illustrate and explain the funding frameworks and processes available where appropriate. (Up to 6 marks) • Takes the budget constraints traditionally associated with new start-up ventures into consideration when deciding on the most appropriate funding option available. (Up to 10 marks) • Provides a full justification and rationale for the choices arrived at in relation to the start up firm chosen. (Up to 8 marks) • Demonstrates criticality of thinking, analysis and discussion throughout the report. (Up to 10 marks) • Use a start-up idea of your choice as a vehicle for critical discussion. (Up to 6 marks) • Write in report format and produce a report of professional quality in terms of content, structure and standard of presentation. (Up to 10 marks) • Additional material can be placed in the appendix. The appendix does not count in terms of the word length requirements. Only relevant additional material to support the written work in the actual report should be included in the appendix. Total 100 marks (represents 50% of the marks available for the module as a whole) Excellent/ good answer • In Question 1 excellent / good students’ will provide a detailed critical discussion and examination of the possible funding options open to small entrepreneurial start-up enterprises. Students’ will chooses a specific entrepreneurial start-up venture within the service sector and use this as a vehicle for discussion in Assignment 1. Students’ will examine all of the possible funding options open to them for both venture capital and working capital. Particular attention will be given to factoring services available (for both investment and working capital finance) which have been examined and discussed in depth within class. Students’ will provide a full justification for opinions held and suggestions made. The difference between excellent and good is likely to be in the areas of the extent of criticality provided in the discussion, the degree of entrepreneurial focus on the specific question asked, structure and critical evaluation. Average answer • An average answer will cover the salient points and demonstrate an understanding of small business ‘start-up’ funding issues but coverage is likely to be more descriptive and lack the critical depth asked for in the answer. Answers may be less entrepreneurially focused than for excellent/ good students’ answers. Students may not adhere completely to the specific question given and answers may lack focus. They may not give particular attention to factoring services as instructed. Students’ may not use a service sector start-up example as instructed. Answers may lack sufficient justification and rationale for the choice of funding model form both investment and working capital eventually arrived at. Answers may lack the degree of criticality and focus asked for in the question. Poor/ inadequate answer • Poor and/ or inadequate answers are likely to be too generic with the candidate failing to answer the specific question set. There will be little critical examin
ation or discussion and the answer will be more descriptive than analytical. There is likely to be little strategic or entrepreneurial content in the answers. The difference between a poor but marginally successful answer and an inadequate answer that fails to achieve the required standard for a pass grade is like to be one of degree in terms of structure, the level of focus, critical examination and critical discussion provided. Your work must be presented in a report format style. As an academic piece of work you are expected to link theory and practice. Make full use of the academic and other literature to support the points made. Give a critical discussion and evaluation of the different positions held in the literature evidence. You should take care to ensure that the work you submit has a high standard of structure and presentation. You must acknowledge the sources of information and evidence using the Harvard referencing system. All assignments are subject to the University’s regulations on plagiarism and must be submitted in electronic form for checking. STUDENT GUIDELINES FOR ASSIGNMENT STRUCTURE Please ensure that your assignment has • A table of contents • A list of figures and/ or list of tables where appropriate • Introduction/ Executive summary • Literature Review- and Critical Analysis • Conclusions • References / Presentation • Bibliography • Appendices if appropriate • TOTAL = 2,000 WORDS • It is emphasised that this report is to be the work of the individual student and should reflect individual entrepreneurial ideas; comprehension of the tasks involved; views; critical awareness; use of theory; interpretation and judgements; use of evidence; evaluation and a systematic approach to the use of research. • The above requirements are indicated as the required areas of focus for you to articulate your individual responses. The submission of your work for assessment should be organised, clearly structured in the order outlined above. CRITERIA IN TERMS OF CONTENT, TOPIC KNOWLEDGE, UNDERSTANDING AND SYNTHESIS, APPLICATION, ANALYSIS, EVALUATION AND RECOMMENDATIONS, REFERENCING AND PRESENTATION FOR ASSIGNMENT 1 ARE PROVIDED ON THE PAGE BELOW: MARK 29 or less 30 – 39 40 – 49 50 – 59 60 – 69 70 + CONTENT: Has the question been answered? Vague, random, unrelated material Some mention of the issue, but a collection of disparate points Barely answers the question – just reproduces what knows about the topic Some looseness/ Digressions Well focused Highly focused TOPIC KNOWLEDGE Is there evidence of having read widely and use of appropriate and up to date material to make a case? No evidence of reading. No use of theory – not even hinted at implicitly. No evidence of reading. An implicit hint at some knowledge of theory, etc. No evidence of reading. Very basic theories mentioned but not developed or well used. Some reading evident, but confined to core texts. Good reading. Good range of theories included. Excellent reading. Well chosen theories. UNDERSTANDING & SYNTHESIS Are ideas summarized rather than being reproduced, and are they inter-related with other ideas? No theory included. Vague assertions/poor explanations. Long winded descriptions of theory. Some long winded sections. Some quotations but stand alone. Some inter- connections. Good summary of theory. Good use of quotations that flow with narrative. Good inter-connections. Succinct, effective summaries of theory. Excellent choice and threading of quotations into argument. Good counterpoising of a range of perspectives. APPLICATION Does it show appropriate use of theory in a practical situation? No examples No/limited/ inappropriate examples Few examples Uneven examples Good examples Excellent range of examples. ANALYSIS Does it identify the key issues, etc in a given scenario, proposal or argument? Vague assertions about issues. Largely descriptive with no identification and analysis of central issues. Limited insight into issues. Some good observations. Good, detailed analysis. Comprehensive range of issues identified and discussed fully. EVALUATION & RECOMMENDATIONS Does it critically assess material? Are there a workable and imaginative solutions? No evaluation. Uncritical acceptance of material. Some evaluation but weak. Little insight. Good interpretation. Some but limited sophistication in argument. Good critical assessment. Independent thought displayed. Full critical assessment and substantial individual insight. REFERENCING Thorough and accurate citation and referencing No referencing No referencing Limited/poor referencing Some inconsistencies in referencing Appropriate referencing Appropriate referencing PRESENTATION Logical and coherent structure to argument and effective presentation No structure apparent. Poor presentation. Poor structure. Poor presentation. Acceptable, but uneven structure. Reasonable presentation. Reasonable structure. Good presentation. Good argument. Well presented material. Excellent argument. Very effective presentation format. Assignment Question 2 (To assess L2, L3, L4, L5, and L7) Subject: Write a short case study outlining the essence of the new or proposed entrepreneurial service sector based business venture. Based on this case study draw up a business plan showing how you propose to achieve an appropriate sales capability for your business. Examine both personal and non-personal sales factors in your answer. Take budget constraints into account. Task: Using your knowledge of entrepreneurship and your entrepreneurial skills developed on the course draw up a business plan for your proposed new entrepreneurial service sector based venture used as a vehicle for discussion in Assignment Question 1 above. This plan will take possible budget constraints into account. It will cover how you propose to achieve an appropriate sales capability for your new venture. You are to consider both personal and non-personal sales factors in your answer. This will be important in your quest to obtain financial and other forms of support you may need to get your proposed business started on a secure basis. Make full use of evidence from the literature to support your position and any recommendations made for future marketing and sales actions. It is essential you provide a clear, persuasive and strong case for the achievement of an appropriate sales function for your proposed new service based venture. The new service sector based entrepreneurial venture should be discussed at the start of your business plan in the form of a short case study (500 words) outlining the essential elements of the enterprise and vision/ mission for the business. Additional relevant material can be supplied in the appendix if necessary. STUDENT GUIDELINES FOR ASSIGNMENT CRITERIA RE: QUESTION TWO THIS IS HOW THE MARKS FOR YOUR QUESTION TWO ASSIGNMENT ARE TO BE ALLOCATED WHEN MARKED SO PLEASE FOLLOW THESE GUIDELINES. • Demonstrating and employing your knowledge of entrepreneurship and your entrepreneurial skills developed on the course within the assignment. (Up to 10 marks) • Use the specific new service sector based venture identified and discussed in Assignment 1. Develop this new venture as a short CASE STUDY (500 words) and include it as part of the business plan. Cover the nature of the business start-up and cover the objectives, vision and mission set for the new venture. (Up to 28 marks) • Demonstrate a good grasp of entrepreneurial theory and practice in the construction and content of the business report on achieving an appropriate sales capability for your proposed new venture. Consider both personal and non-personal methods of sales. (Up to 12 marks) • Students’ should critically examine managing investment capital and cash flow in reducing business risk and the potential high cost of finance in relation to achieving a sales capability for the new service sector venture. Methods for taking budget constraints into account should be critically examined and discussed. (Up to 14 marks) • Students’ should develop and communicate a strong c
ase to support the suggestions and recommendations made for the achievement of an appropriate sales capability for their proposed new venture. (Up to 12 marks) • Conceptual models and academic frameworks should be used to support the points made in the report where appropriate. (Up to 12 marks) • Write in report format and produce a report of professional quality in terms of content, structure and standard of presentation. (Up to 12 marks) • Additional material can be placed in the appendix. The appendix does not count in terms of the word length requirements. Only relevant additional material to support the written work in the actual report should be included in the appendix. Total 100 marks (represents 50% of the marks available for the module as a whole) Excellent/ good answer • In Question 2 excellent/ good students will produce a short case study of the new service sector entrepreneurial start-up venture used in the answer for Question 1. Students will cover the objectives, vision and mission set for the new venture.They will critically examine the main problems concerning the achievement of an appropriate sales capability associated with small business start-up ventures in the service sector. Using their knowledge of entrepreneurship theory and practice gained from the module they will produce a plan for securing a sales function for the future. Students will suggest how an appropriate sales strategy for the new venture can be designed and implemented. They will consider both personal and non-personal methods of sales. They will discuss the importance of integrating funding policies and likely budget constraints into the plan. They will make full use of conceptual models and analytical frameworks and provide a critical evaluation and discussion of the relevant literature in this area. Students’ will demonstrate how such a sales strategy will also focus on the financial side of the business in particular the management of cash flow and other aspects of business finance. When discussing their sales capability proposals they will also consider a measured, manageable sales growth strategy that is in line with the financial resources available to the new venture and how to minimise the cost of funding the future sales growth of the business. Such students’ will write in report format and produce a report of professional quality in terms of content, structure and standard of presentation. Students’ will provide a full justification for opinions held and suggestions made. The difference between excellent and good is likely to be in the areas of the extent of criticality provided in the discussion, the degree of entrepreneurial focus on the specific question asked, structure and critical evaluation. Average answer • An average answer will cover the salient points outlined above and will demonstrate an understanding of new small business sales issues specifically related to new ventures in the service sector. There may be some understanding of and some discussion of budgetary issues related to small business start-up ventures and possible budget constraints. However such coverage is likely to be more descriptive and lack the critical depth asked for in the answer. Answers may be less entrepreneurially focused than for excellent/ good students’ answers. Students may not adhere completely to the specific question given and answers may lack focus, for example a service sector start-up venture may not be specifically used and discussed in the answer. Answers may lack the degree of criticality and question focus asked for in the question. Poor/ inadequate answer • Poor and/ or inadequate answers are likely to be too generic with the candidate failing to answer the specific question set. There will be little critical examination or discussion and the answer will be more descriptive than analytical. There is likely to be little strategic or entrepreneurial content in the answers. The difference between a poor but marginally successful answer and an inadequate answer that fails to achieve the required standard for a pass grade is like to be one of degree in terms of structure, the level of entrepreneurial focus, critical examination and critical discussion provided. Your work must be presented in a report format style. As an academic piece of work you are expected to link theory and practice. Make full use of the academic and other literature to support the points made. Give a critical discussion and evaluation of the different positions held in the literature evidence. You should take care to ensure that the work you submit has a high standard of structure and presentation. You must acknowledge the sources of information and evidence using the Harvard referencing system. All assignments are subject to the University’s regulations on plagiarism and must be submitted in electronic form for checking. STUDENT GUIDELINES FOR ASSIGNMENT STRUCTURE Please ensure that your assignment has: • A table of contents • A list of figures and/ or list of tables where appropriate • Introduction/ Executive summary • Case study (500 words) • Literature Review- and Critical Analysis • Conclusions • References / Presentation • Bibliography • Appendices if appropriate • TOTAL = 2,000 WORDS • It is emphasised that this report is to be the work of the individual student and should reflect individual entrepreneurial ideas; comprehension of the tasks involved; views; critical awareness; use of theory; interpretation and judgements; use of evidence; evaluation and a systematic approach to the use of research. • The above requirements are indicated as the required areas of focus for you to articulate your individual responses. The submission of your work for assessment should be organised, clearly structured in the order outlined in above. CRITERIA IN TERMS OF CONTENT, TOPIC KNOWLEDGE, UNDERSTANDING AND SYNTHESIS, APPLICATION, ANALYSIS, EVALUATION AND RECOMMENDATIONS, REFERENCING AND PRESENTATION FOR ASSIGNMENTS 2 ARE PROVIDED ON THE PAGE BELOW: MARK 29 or less 30 – 39 40 – 49 50 – 59 60 – 69 70 + CONTENT: Has the question been answered? Vague, random, unrelated material Some mention of the issue, but a collection of disparate points Barely answers the question – just reproduces what knows about the topic Some looseness/ Digressions Well focused Highly focused TOPIC KNOWLEDGE Is there evidence of having read widely and use of appropriate and up to date material to make a case? No evidence of reading. No use of theory – not even hinted at implicitly. No evidence of reading. An implicit hint at some knowledge of theory, etc. No evidence of reading. Very basic theories mentioned but not developed or well used. Some reading evident, but confined to core texts. Good reading. Good range of theories included. Excellent reading. Well chosen theories. UNDERSTANDING & SYNTHESIS Are ideas summarized rather than being reproduced, and are they inter-related with other ideas? No theory included. Vague assertions/poor explanations. Long winded descriptions of theory. Some long winded sections. Some quotations but stand alone. Some inter- connections. Good summary of theory. Good use of quotations that flow with narrative. Good inter-connections. Succinct, effective summaries of theory. Excellent choice and threading of quotations into argument. Good counterpoising of a range of perspectives. APPLICATION Does it show appropriate use of theory in a practical situation? No examples No/limited/ inappropriate examples Few examples Uneven examples Good examples Excellent range of examples. ANALYSIS Does it identify the key issues, etc in a given scenario, proposal or argument? Vague assertions about issues. Largely descriptive with no identification and analysis of central issues. Limited insight into issues. Some good observations. Good, detailed analysis. Comprehensive range of issues identified and discussed fully. EVALUATION & RECOMMENDATIONS Does it critically assess material? Are there a workable and imaginative solutions? No evaluation. Uncritical accept
ance of material. Some evaluation but weak. Little insight. Good interpretation. Some but limited sophistication in argument. Good critical assessment. Independent thought displayed. Full critical assessment and substantial individual insight. REFERENCING Thorough and accurate citation and referencing No referencing No referencing Limited/poor referencing Some inconsistencies in referencing Appropriate referencing Appropriate referencing PRESENTATION Logical and coherent structure to argument and effective presentation No structure apparent. Poor presentation. Poor structure. Poor presentation. Acceptable, but uneven structure. Reasonable presentation. Reasonable structure. Good presentation. Good argument. Well presented material. Excellent argument. Very effective presentation format. END

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