3000 words 10day Entrepreneurship and Innovation

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MODULE TITLE: Entrepreneurship and Innovation

Question and Requirement:Read it carefully

You are acting as business adviser to a small or medium business or a proposed new business venture. Your task is to critically evaluate and assess the degree of entrepreneurship, innovation and creativity in the business/entrepreneur or planned business. This will be followed by appropriate and feasible recommendations (or business plan). The recommendations must clearly show creativity on how the business should exploit existing or identified entrepreneurial and innovation opportunities and dealing with the challenges posed by the environment. You must apply relevant concepts, theories and models of entrepreneurship and innovation in your evaluation and to support the recommendations. You will begin by analysing the economic environment and the industry and consider the challenges and opportunities they present for entrepreneurship and innovation on your chosen business.

For the evaluation and subsequent recommendations, you need to choose any three themes covered in the module.

NB: For the purpose this assignment, a small and medium business is defined as any business employing no more than 250 people and/or has an annual turnover of up to US$10m and the business could be UK based or from another country.

Structure of the report(MUST write like this Structure)

The assignment should be presented in the form of a 3,000 word business report (excluding tables and references). The report should be structured as follows:

• Analysis of the environment – An analysis of the macro and micro environment and how it influences the discovery and exploitation of entrepreneurial and innovation opportunities. This should include implications or impact these have on entrepreneurship and innovation in your chosen business or proposed business. (L1)

• Evaluation and critical understanding of Entrepreneurship and Innovation –You should be able to demonstrate your knowledge and understanding of key issues surrounding entrepreneurship and innovation in the business you have chosen or proposed business by evaluating and critically assessing its degree of entrepreneurship and innovation. To do this, you should be able to apply the key concepts, theories and models of entrepreneurship and innovation you will have learned to evaluate and assess the business. (L2,4)

• Recommendations/ Improved business plan – Based on your assessment and evaluation of the business/proposed business, identify and formulate a series of recommendations or develop a new business plan that you believe will help the business maximise its entrepreneurial potential and innovation opportunities including how it could deal with existing challenges. (L3)

As a guide to the word limit, the analysis of the environment section should be about 600 words long, the Evaluation and critical assessment of Entrepreneurship and innovation about 1200 words, and the recommendation/ business plan section about 1200 words.

NB: The overall coherence is more important than any single section and evidence of creativity, innovation and entrepreneurial thinking should be apparent in the report.

Learning outcomes and assessment criteria specific to this assignment:

Learning outcomes and pass attainment level:

1. Analyse economic environments to identify entrepreneurial opportunities

2. Evaluate management of entrepreneurial activity within new and established organisations, conceptualised and contextualised in a global context

3. Demonstrate the capacity to formulate effective responses to the various management challenges in enterprises

4. Demonstrate a critical understanding of the management of innovation in new and established organisations

Please see detailed marking scheme at the end of the assignment

MSc ENTREPRENEURSHIP and INNOVATION

Assignment

Rationale

Entrepreneurship and Innovation are increasingly becoming critical areas of management for any business as they are closely associated with value creation and employment creation – both in the public and private sectors with greater emphasis in the private sector as the driver of economic growth the world over. In order to survive and remain relevant in the 21st century, businesses need to take an entrepreneurial approach and be innovative in the manner they do business. This module is designed to allow you to explore entrepreneurial activity and innovation capabilities of businesses both new and established businesses. The focus of the module is on practice and addressing real challenges and opportunities faced by businesses in the 21st Century while also developing your own entrepreneurship and innovation skills.

Contacts

Dr Tom Domboka (Module leader and Lecturer) E-mail: thomas.domboka@bcu.ac.uk

Dr Rod Shelton (Lecturer) E-mail: rod.shelton@bcu.ac.uk

Room: F208

Assessment

There are two forms of assessment that will be used during the module. On a weekly basis, you will gain ‘informal formative feedback’ which will be derived to aid your learning. This feedback is not recorded against your records, but is to be used by you to improve your work further. This feedback will be gained from your tutor and peers and is available through seminars, workshops and face-to-face tutorials. The second form of feedback is ‘summative’ and will be the grade and feedback gained from the work you will submit at the end of the module.

WRITTEN ASSIGNMENT (100%)

For the evaluation and subsequent recommendations, you need to choose any three themes covered in the module.

Structure of the report

The assignment should be presented in the form of a 3,000 word business report (excluding tables and references). The report should be structured as follows:

NB: The overall coherence is more important than any single section and evidence of creativity, innovation and entrepreneurial thinking should be apparent in the report.

Drafts

Your lecturer will look at one draft version (one side of A4) of one section or framework of your report up to 2 weeks before the hand-in date. This way you can use this ‘formative’ feedback to develop your work further. This feedback does not contribute towards a ‘pass’ or ‘fail’ mark. Drafts are not graded or assessed – the purpose of these is for you to gain feedback for improving your work. Guidance can be sought by speaking to your lecturer if there are any areas of confusion by arranging an appointment via e-mail.

Formatting

The assignment should be word processed and double line spaced. Use of bullet points should be avoided or used sparingly.

– Use Ariel size 11 point for your report fully justified

– State the word counting for each section as stated above

– Each page should be numbered except for the contents pages (if any)

– There is no need for a content page.

– All work should be referenced using the Harvard format – there are hand outs available online at the library website and are available as hard copy in the library if you are unsure of this.

Tips

– Exercise caution when using Wikipedia, Google or Yahoo – the former is not peer assessed and the work is unreliable and the later are search engines. Do not rely too heavily on Internet sources.

– Use textbooks and journal articles (avoid newspaper articles). You should however, make more reliance on journal articles as these are peer reviewed and are often more recent than text books. If you are to use text books, these should be the latest (preferably not more than 5 years old) so it is important to check whether you have the latest edition.

University Regulations

As your coursework is submitted in hard copy format, you are required to declare the number of words as suggested above. Your work will not be marked without this declaration. A random number of coursework will be selected to check for adherence to the word limit.

If you produce less than or exceed the word limit by up to 10%, no action will be taken, though you may receive adverse feedback. If you produce less than or exceed the stipulated word count by more than 10%, a deduction of the mark awarded will be made to reflect that you have not met the assessment requirements.

Recommended Reading

Hisrich, R.D, and Peters, M.P (2013) Entrepreneurship (9th Ed.) New York: McGraw-Hill

Kirby, D. (2003) Entrepreneurship London: McGraw-Hill.

Smith, D, (2009) Exploring Innovation, 2nd Edition, London: McGraw Hill Education

Spinelli, S. (2012) New venture creation: entrepreneurship for the 21st century (9th Ed) New York: McGraw-Hill/Irwin

Tidd, J., Bessant, J. and Pavitt, K. (2005) Managing Innovation: Integrating Technological, Market and Organizational Change, Chicester, Wiley.

Timmons, J. and Spinelli, S. (2006) New Venture Creation, Boston: McGraw-Hill.

Wickham, P. (2006) Strategic Entrepreneurship, Harlow: FT Prentice Hall.

Background reading

Bragg, A. & Bragg, M. (2005) Developing new business ideas. Harlow: Pearson Education (Available as e-book at; http://lib.myilibrary.com/Open.aspx?id=60064)

Roper, R. (2013) Entrepreneurship A global Perspective. London: Routledge (Available as e-book at; http://lib.myilibrary.com/Open.aspx?id=415809)

Tudor, R., Runco, M.A. & Moger, S. (Eds) (2008) The Routledge Companion to Creativity. London: Routledge (Available as e-book at; http://lib.myilibrary.com/Open.aspx?id=183796)

Journals

Journal of Small Business and Entrepreneurship (Available at; http://ezproxy.bcu.ac.uk:2073/publication/44621

International Journal of Entrepreneurship (Available at: http://ezproxy.bcu.ac.uk:2073/publication/29727

International Journal of Gender and Entrepreneurship (Available at: http://ezproxy.bcu.ac.uk:2156/journals.htm?issn=1756-6266

World Journal of Entrepreneurship, Management and Sustainable Development (Available at: http://ezproxy.bcu.ac.uk:2073/publication/1366338

Websites

http://www.gemconsortium.org/

http://www.prowess.org.uk/

http://www.ons.gov.uk/ons/index.html

Assessment Structure and mark allocation

Entrepreneurship and Innovation: Marking Scheme

Fail

(49% or less)

One or more tasks required not completed Basic Pass

(50% – 59%)

2.2

Fully answered and completed as required by the Assignment Brief Good Commendation

(60%-69%)

2.1

In addition to achieving the requirements of 2.2 pass Distinction

(70% – 79%)

1.1

In addition to achieving the requirements of 69% Excellent Distinction

(80% or above)

1.1

In addition to achieving the requirements of 79%

Marginal Fail – Some relevant material is present but much material may not be relevant to the assignment. Understanding is poor with little evidence of reading / research on the topic. Key entrepreneurship and innovation concepts, theories and models are missing, misapplied or not properly explained. Fundamental errors and misunderstanding is likely to be present. Report may not be properly structured with some typographical and grammatical errors. Little referencing done in the report and lack of academic rigour. Lack of evaluation and unrealistic recommendations.

(45 – 49%)

There will be some attempt at evaluating and critical assessment of entrepreneurship and innovation but overall this will lack rigour. There will be some evidence of wider reading of the literature but this will lack depth, relevance and application. The report will show coherence, demonstrate creativity and innovativeness and entrepreneurial thinking. Justification of the recommendations and responses to challenges and opportunities for entrepreneurship and innovation within the chosen business will have been superficial. The implications of the environment on the business will have been spelt out.

(55 – 59%)

Students will have clearly analysed the environment and its impact on entrepreneurship and innovation in the business. They will have evaluated and critically assessed the degree of entrepreneurship and innovation in the business using relevant concepts, theories and models. There will be some evidence of understanding of the drivers to entrepreneurship and innovation within business both in the local and global context. The use of examples drawn from the business world and from literature will be relevant but not always justified. The students will attempt to formulate a coherent argument based on the points raised but the level of rigorous analysis will vary. There will be evidence of both wider reading and more in-depth reading properly referenced.

(65 – 69%)

Students will have marshalled their facts to provide rigorous and internally consistent arguments. Different approaches to entrepreneurship and innovation will have been rigorously evaluated. The use of examples drawn from the business world will have been both relevant and justified. Such responses may critique some approaches to entrepreneurship and innovation and offer alternative approaches based upon a wide reading of the literature. There will have been a clear rationale for why management/business or individuals adopt a particular approach to entrepreneurship. Issues that arise from the different approaches will have been clearly articulated. Students will have clearly evaluated the impact of the different approaches to entrepreneurship and innovation.

(75 – 79%) Students will have clearly articulated their own thoughts. Such students may have begun to develop an approach to entrepreneurship and innovation based upon a synthesis of articles/books contained in the literature, or indeed, their own ideas. This will be tentative but nevertheless show some originality of thought based upon an extensive reading of the literature. High degree of understanding, critical / analytical skills and original research, where specified.

(80 – 89%)

Fail – Some relevant material will be present. Understanding is poor with little evidence of reading / research on the topic. Key entrepreneurship and innovation concepts, theories and models are missing, misapplied or not properly explained. Fundamental errors and misunderstanding are present. Poor structure/ presentation. Most material will not be relevant in the report. Typographical and grammatical errors are evident throughout the report and there is general lack of coherence in the report. There is also lack of referencing and academic rigour. Lacks evaluation and feasible recommendations.

(40 – 44%)

Basic understanding demonstrated, with some correct description and critical analysis. Answer may be incomplete with errors , misunderstandings and little application of theory. Limited research on the topic in evidence. May be poorly structured and poorly expressed / presented. Some material may be irrelevant to the assignment requirements. Some limited evaluation done with reasonable and feasible recommendations made and justified. May contain a few typographical and grammatical errors with some referencing done. Implications of the environment on the business will not have been clearly spelt out.

(50 – 54%) Answer demonstrating good and detailed analysis of the environment and its implications on entrepreneurship and innovation in the business. There will also be good evidence of proper evaluation and critical assessment of entrepreneurship and innovation within the business. Key concepts, theories, and models of entrepreneurship and innovation are available to properly used in both the evaluation and. Some critical reading / research beyond that recommended may be present. Some errors may be present but very limited. May not be particularly well structured, and / or clearly presented but there is coherence throughout the report.

(60 – 64%)

A good understanding and critical analysis of the subject, with few errors. Well organised and clearly written / presented. Reading & research beyond what is recommended is evidenced.

(70 – 74%) The answer will demonstrate an excellent level of understanding, critical/analytical skills or research, as appropriate. Outstanding in all areas

(80 – 89%)

Fail – Inadequate answer with little relevant material and poor understanding of theories, concepts, issues and methodology, as appropriate. Fundamental errors and misunderstandings will be present. Poorly structured and poorly expressed and lack coherence. Too many typographical and grammatical errors throughout the report and very limited or no referencing done and lacks academic rigour.

(1 – 39%)

Answer completely relevant to the assignment set. Demonstrated clear understanding and critical analysis of theories, concepts, issues and methodology, as appropriate. Evidence of wide-ranging reading and/or research, as appropriate, beyond the minimum recommended

(90 – 100%)

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