Learning Outcomes:
Upon successful completion of this module, students should be able to:
Detail the process of entrepreneurship as an activity originating from market need, the creative recognition of opportunity, and innovative problem solving in the business environment. Critically evaluate how innovation and competitive advantage contribute value to new business products and services. Design a preliminary assessment of a new venture. Identify potentially valuable opportunities. Obtain the resources necessary to pursue an opportunity and to create an entrepreneurial organisation. Grow the business into a sustainable enterprise. Assessment details: Individual written report, 100%, 2,500 words
Referencing: Students are expected to use the APA Referencing System (7th Edition) throughout their assignments where required. Please follow the APA Referencing System (7th Edition) for all your assignments at the ULBS.
Submission Method: Turnitin – Your work will be put through Turnitin. All submissions will be electronically checked for plagiarism and the use of third-party content.
You have the option to upload your work ahead of the deadline, more than once. ULBS will be reviewing your last submission only. You can only upload one file. For example if your work contains a word document and power point slides/Excel spreadsheet you will need to copy your slides/spreadsheet into the word document.
Note: Keep in mind that self-plagiarism (when you reuse your own specific wording and ideas from work that you have previously submitted without referencing yourself) is also a form of plagiarism and is not allowed.
ASSIGNMENT DETAILS
Students are tasked with generating and critically conducting a Comparative Analysis of two Entrepreneurial Ideas. They must evaluate the ideas and conduct a deep comparative feasibility analysis against a set of predefined criteria to determine which of the two ideas presents the stronger overall entrepreneurial opportunity. The ideas can be in practise or conceived for future practise, and be from the same industry (e.g., two different Hospitality, Leisure, Tourism concepts) or different industries (e.g., a technology startup and a fast fashion brand). The assessment will cover all module learning outcomes.
Assessment Details
Task: Comparative Feasibility Analysis of Entrepreneurial Ideas
Students will write a 2,500-word report and use appropriate frameworks to analyse key elements that follow the below indicative structure.
Indicative Structure of the Report
The report should cover the following topics and sub-topics:
Introduction: Briefly introduces the two ideas and the industries in which they operate, states clearly the purpose of the report and provides a ‘roadmap’ for the reader. Analyses of Business Ideas (1 and 2): Business Model Summary: Outlines the two business ideas, relevant industry sectors and target markets, including but not limited to the value propositions, channels to market, proposed revenue streams, cost structures, key partnerships and resources, etc. Market and Industry Viability: Evaluation of whether a genuine need or gap exists in the market for the product or service, considering the target market size, ability and willingness to pay, and potential for growth. (An idea that boasts a large, underserved market is generally more attractive than one targeting a saturated or shrinking market). Competitor Analysis: Identifies both sets of competitors, including existing direct and indirect competition, and analyses their strengths and weaknesses. This also involves presenting the unique selling propositions (USPs) of both ideas and ensuring the ideas have clear, defensible differentiators. Financial Feasibility: Identifies potential challenges (e.g., high startup costs, market saturation, regulatory hurdles) and assesses financial requirements and potential of the ideas, including estimation of startup costs, ongoing operational expenses, potential revenue streams, and the break-even point. The scalability of the business model should also be considered. Comparative Analysis: This is the core of the assessment, in which students should create a table to compare directly the ideas against key entrepreneurial criteria. This section is derived from synthesis of the previous sections. Conclusions and Recommendation: Based on the comparative analysis, summarise the key findings and provide a definitive conclusion about which of the two business ideas represents the stronger overall entrepreneurial opportunity and has a greater chance of success, supported by a detailed, evidence-based justification for the recommendation.
*All of these details are accurate at the time of publication. However, in exceptional circumstances, it may be necessary to change the assessment brief. If this should be required, students will be notified as early as possible.