BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7 ASSESSMENT 2 BRIEF Subject Code and Title BIZ301 Organisational Creativity and Innovation Assessment Group Venture Plan Individual/Group Group Length 4000 words +/- 10% Learning Outcomes b) Identify organisations that develop and foster the processes, practices and attributes for creativity and innovation c) Compare and contrast new venture creation using either business model generation or lean start up approaches d) Explain the implications for organisational strategy when developing a culture of creativity and/or innovation e) Assess the suitability of innovators as agents of change ubmission Due by 11:55pm AEST/AEDT Sunday of Module 5 (week 10) Weighting 40% Total Marks 100 marks Objectives: Create an idea of the groups choice that is innovative, and develop a venture plan that could bring it to market Demonstrate the use of various creative tools to establish the market validity of the groups chosen innovation Identify the client value proposition and the need in the market for the chosen product Establish market segmentation, and channel strategy and marketing approach, to deliver the product/solution to the chosen market Develop a financial model for a viable venture BIZ301_Assessment 2_Venture plan_M5 Page 2 of 7 Context Innovation, creativity, and entrepreneurship is growing in importance within organisations, as they pursue excellence and growth in a competitive business world. The ability of the contemporary employee or entrepreneur to operationalise an innovation is a highly valued characteristic, in the global market place. The process of developing the Group Venture Plan will provide you with key learnings on how to potentially take an idea from a concept to a globally scalable business. Instructions: You will utilise all relevant theories, models, and ideas covered in the subject, to develop a venture plan that demonstrates an understanding of where and how innovation transitions to entrepreneurship, in a new venture. You should also demonstrate that you understand, and have properly considered, a number of tools and methods for bringing the innovation to market. The plan needs to be comprehensive and compelling in terms of funding and ongoing management. You should also outline a strategy for how a culture of further and ongoing innovation can occur within the new venture. Output and deliverable parameters of the assessment: Content of Venture Plan: a) Title page unit name, assessment name, student name, ID b) Idea title (with one-line tagline) c) Executive summary d) Analysis on possible market gap/opportunity e) Develop value proposition of the innovative product or service f) Marketing and channel strategy approach g) Competitive strategy and positioning h) Financial viability of the venture using break-even, cash flow, and investment needs i) Appropriate References minimum of 10 (and using APA standard) Specifications: Assignment with cover sheets submitted via Turnitin Report format (section headings and sub-headings are permitted) Maximum length, no more than 4,000 words +/-10% Spell and grammar-checked APA referencing only Submission Instructions: BIZ301_Assessment 2_Venture plan_M5 Page 3 of 7 Submit the group venture plan via the Assessment link in the main navigation menu, by the end of week 10 (one submission per group). The facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My Grades. BIZ301_Assessment 2_Venture plan_M5 Page 4 of 7 Learning Rubric: Assessment 2 Assessment Attributes Fail (Unacceptable) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75 -84% High Distinction (Exceptional) 85-100% Grade Description (Grading Scheme) Fail grade is awarded if a student is unable to demonstrate satisfactory academic performance in the subject or has failed to complete required assessment points, in accordance with the subjects required assessment points. No clear distinguishing approach to the selected idea for the venture. Pass is awarded for work showing a satisfactory achievement of relevant learning outcomes. Identify appropriate entrepreneur and rational for section. Showing a clear approach to the idea and rationale for market success. Credit is awarded for work showing a more than satisfactory achievement of all learning outcomes and a more than adequate understanding of theory and application of skills. A clear understanding of the selected venture and rationale for the chosen product. Distinction is awarded for work of superior quality in achieving all learning outcomes and a superior integration and understanding of theory and application of skills. Evidence of in-depth research, reading, analysis and evaluation is demonstrated while a clear outline and timeline of achievements of the selected venture plan. High Distinction is awarded for work of outstanding quality in achieving all learning outcomes together with outstanding integration and understanding of theory and application of skills. Evidence of in depth research, reading, and analysis, original and creative thought is demonstrated. Demonstrating clear approach to the value of the selected venture idea and the need in the market. Knowledge and Understanding Identify a suitable idea/project to develop a venture plan and scale to a global organisation Limited demonstrated potential for the groups idea/project. Limited detailing of the content of the venture plan to show how it Adequately describes the potential for the groups idea/project. Adequate detailing of the content of the venture plan to show how it Exceeds the basic requirements to somewhat convincingly demonstrate the potential of the groups idea/project. Exceeds the basic requirements to convincingly demonstrate the potential of the groups idea/project. Professionally and compellingly sells the potential of the groups idea/project Expert detailing of the content of the venture plan to show how it BIZ301_Assessment 2_Venture plan_M5 Page 5 of 7 (35%) scales to a global organisation. scales to a global organisation. Good detailing of the content of the venture plan to show how it scales to a global organisation. Advanced detailing of the content of the venture plan to show how it scales to a global organisation. scales to a global organisation. Application with synthesis of new knowledge Use of relevant creativity tools and approaches for venture development (35%) Limited understanding of required concepts and knowledge. Key elements of the theory are not addressed. Little relevant use of creativity tools to arrive at the chosen venture idea. Adequate knowledge or understanding of the field or discipline. Resembles a recall or summary of key ideas. Often confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. Some level of rationale for the chosen venture and its position in the market. Thorough knowledge or understanding of the field or discipline/s. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. Begins to develop a clear understanding of the market need, competitive position, and customer need for the product /venture. Highly developed understanding of the field or discipline/s. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Demonstrates a clear understating and strong approach to meeting the product/venture in a new market. A sophisticated understanding of the field or discipline/s Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Excellent demonstration of the ventures position in the competitive market place and strong BIZ301_Assessment 2_Venture plan_M5 Page 6 of 7 understanding of the potential of the product. The path to market is expertly articulated. Analysis of the key drivers for financial success for the chosen venture Develop a 3 year cash flow and profitability analysis demonstrating highlevel break even analysis and exit strategy (15%) Limited or poor financial analysis. No clear or convincing path to a positive financial outcome. Acceptable financial analysis. An adequate demonstrating of a conceivable path to financial success. Good financial analysis. A good demonstration of a credible path to sustainable financial success. Very good financial analysis. Thoroughly understands the market size and addressable market opportunity. A very good demonstration of a convincing and thorough path to financial success. Expert financial analysis. Highly sophisticated and creative analysis, of the market size and addressable market opportunity. An excellent demonstration of a compelling and comprehensive path to financial success. Effective Communication Correct citation of key resources and evidence meeting Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. Information, arguments and evidence are presented in a way that is not always clear and logical. Information, arguments, and evidence are well presented; mostly clear flow of ideas and arguments. Information, arguments, and evidence are very well presented; the presentation is logical, clear and well-supported by evidence. Expertly presented; the presentation is logical, persuasive and well supported by evidence, demonstrating a clear flow of ideas and arguments. BIZ301_Assessment 2_Venture plan_M5 Page 7 of 7 APA guidelines for referencing (15%) Audience cannot follow the line of reasoning. Demonstrates inconsistent use of good quality, credible and relevant resources to support and develop ideas and/or APA guidelines. Line of reasoning is often difficult to follow, structure of document is poor. Demonstrates use of credible and relevant resources to support and develop ideas, but these are not always explicit or well developed or referenced. Line of reasoning is easy to follow and the document has a good flow from idea development to financial success. Demonstrates use of good quality, credible, and relevant resources to support and develop ideas that are well-referenced. Clear path from idea to market success demonstrated. Demonstrates use of very good quality, credible and relevant resources that are correctly referenced, to support and develop arguments and statements. Shows evidence of advanced scope within the organisation for sourcing evidence. Engages and sustains audiences interest in the topic, demonstrates high levels of market knowledge, customer needs and is able to develop a quality venture plan ready for funding by investors. Demonstrates use of high-quality, credible and relevant resources, that are correctly referenced, to support and develop arguments and position statements. Shows evidence of extensive scope within and without an organisation, for sourcing evidence.
Identify organisations that develop and f
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