BU035_A1 Innovation & Entrepreneurship 2

BU035_A1 Innovation & Entrepreneurship

BU035_A1 Innovation & Entrepreneurship

Assessment # 1                                                                                  

 

    Assessment Code:

 

BU035_A1
   Assessment Type: Individual Assignment
           Subject Code: BU035
        Subject Name: Innovation & Entrepreneurship
Briefing Date: Week 1
Submission Date: Week 3
Weighting: 20%

 

Aims: Demonstrate understanding of the phenomenon of entrepreneurship and discuss entrepreneurship in the light of empirical case data using the task questions below
 
Overview: This assessment requires you to explore the phenomenon of entrepreneurship in real life situations and analyse and evaluate opportunities and challenges involved in such situations. Scott and Venkataraman (2000) propose a framework for viewing entrepreneurship from the perspective of opportunities: creation, discovery, exploitation. (Not more than 2,000 words)
Submission Format: The submission will be in the form of a type-written document. A final soft copy of the assessment must be submitted via Turnitin on NZSE-Moodlerooms online by the due date.
 

 

Standard of English for Level 7 Business Assessments

 

  • All student work that is submitted for assessment must meet the English requirements for Level 7 business writing.
  • Any submitted assessment or part of an assessment that falls below the acceptable standard of the English requirements for Level 7 business writing will not be marked.
  • If you have any questions regarding the English requirements for Level 7 business writing, please talk to your tutor.

 

 

Referencing

 

  • You must correctly reference all submitted assessments according to APA 6th ed. conventions for both in-text citations and in your reference list.
  • You are required to reference because it is important to acknowledge the original source of other people’s ideas, research and opinions, as well as providing evidence of having undertaken independent research to support your own opinion/point of view/hypothesis/argument.
  • Your tutor can provide further information and guidance on referencing and also direct you to referencing guides and resources.
  • Wikipedia is not considered an acceptable source of reference.

Plagiarism

 

  • Plagiarism is where you use another person’s words, ideas, diagrams or other original creations without acknowledging or giving credit to that person.
  • Any submitted assessment or part of an assessment which has plagiarised content will not be marked.
  • All cases of plagiarism and/or cheating will be investigated and dealt with according to A08: Misconduct in Assessment Policy.
  • If you have any questions regarding plagiarism, please talk to your tutor.

Learning Outcomes: 

The learning outcomes associated with this assessment are:

  1. Explain the phenomenon of entrepreneurship.
  2. Analyse potential business opportunities for a range of innovations.
  3. Evaluate the opportunities and challenges involved in realising the market potential of a creative idea.
  4. Distinguish between the natures of entrepreneurship in the contexts of small business versus larger corporations.

 

ASSIGNMENT OUTLINE

There are 4 tasks in Assignment 1.  Read each task carefully and follow the instructions carefully.

Ecostore – Malcolm Rands

 

BRIEF

This assessment requires you to explore the phenomenon of entrepreneurship in real life situations and analyse and evaluate opportunities and challenges involved in such situations. Shane and Venkataraman (2000) propose a framework for viewing entrepreneurship from the perspective of opportunities: creation, discovery, exploitation.

Using the facts given in the readings on Ecostore case study, and with the experience of Malcolm Rands, you are expected to:

  • demonstrate your understanding of the phenomenon of entrepreneurship and
  • discuss entrepreneurship in the light of empirical case data using the task questions below

 

ASSIGNMEMENT TASKS

  • How, and why did opportunities for the creation of Ecostore goods and services become a reality? (LO1)

 

In order to answer this question, remember to apply the theoretical perspectives to the case study to show your understanding of the definitions of entrepreneurship and other aspects of the entrepreneurship phenomenon.

You must do research on the internet / read case studies & articles provided in Moodlerooms about the ‘green movement’ (towards more environmentally friendly cleaning products). Identify and explain the factors that have created a demand in eco-friendly cleaning products, leading to consumer interest in eco-friendly products.

Cite your references using APA 6th edition in-text referencing.

(Total = 25 marks)

 

 

  • Why Malcom and Melanie Rands and not others discover and exploit these opportunities. How, and why were the opportunities discovered? (LO2)

 

In answering this question discuss why Malcolm and Melanie Rands were the ideal persons to take advantage of this opportunity in the market place. You must analyse and evaluate these opportunities and show how and why Malcolm Rands was able to discover/create business opportunities for a range of new eco-friendly products. Support your answer with specific data from the case(s)/articles.

Cite your references using APA 6th edition in-text referencing.

(Total = 25 marks)

  • How, and why the opportunity was exploited (taken advantage of)? (LO3)

Your answers for the points raised below, must analyse and evaluate at least two of the opportunities and two of the challenges involved in realizing the market potential of an eco-friendly product by Ecostore. (10 marks)

  • You must explain and analyse the initial mode of exploitation that was attempted. (5 marks);
  • Was it successful? (5 marks);
  • Then you must explain and analyse the second/ final mode of exploitation (5 marks), and
  • The recent innovation introduced by Ecostore (5 marks).

Cite your references using APA 6th edition in-text referencing.

(Total = 30 marks)

 

 

  • When Ecostore was founded in 1994 it was nothing more than a humble mail-order business (small business). The company is now a leading New Zealand manufacturer/seller of sustainable household and personal care products (Malcom and Melanie Rands have now have sold out of Ecostore to pursue their own personal project).

Compare and contrast the nature of entrepreneurship when Ecostore was founded to what it is now. (LO4)

 

Cite your references using APA 6th edition in-text referencing. Refer to the attached Marking Guide for more details marking criteria.

(Total = 20 marks)

 

MARKING GUIDE

  1. How, and why did opportunities for the creation of Ecostore goods and services become a reality? 15 marks

 

CRITERIA MARKS
1a Theoretical aspects applied to the case study including Two reasons for interest in eco-products. 15 marks max
1b Explain the concept of information asymmetry and how it that creates an opportunity in the context of the Eco-store case. Explain any “isolating mechanism” that will prevent others from imitating Eco-store 10 marks max

 

  1. Why Malcom Rands and not others discover and exploit these opportunities. How, and why were the opportunities discovered? 15 marks

 

CRITERIA MARKS
2a Analysis of business opportunities in realizing the market potential for a range of Ecostore innovations 10 marks max
2b Explain the   nature of prior information    that enabled Malcolm to recognize an opportunity.Explain the cognitive properties that enabled Malcolm   to recognize the value of the   opportunity.

Explain the new “means-end” relationship that Eco-Store have in providing eco-friendly products

15 marks max

 

  1. How and why the opportunity was exploited?   18 marks

 

CRITERIA MARKS
3a Analysis and evaluation of at least two opportunities and two challenges encountered by Ecostore 10 marks max
3b Analyse and explain initial mode of exploitation. Was this initial mode of exploitation ‘successful’? Analyse and explain second/final mode of exploitation. 15 marks max
3c What important innovation was recently introduced by Ecostore? 5 marks max

 

  1. When Ecostore was founded in 1994 it was nothing more than a humble mail-order business (small business). The company is now a leading New Zealand manufacturer/seller of sustainable household and personal care products (Malcom and Melanie Rands have now sold out of Ecostore to pursue their personal project).

Compare and contrast the nature of entrepreneurship when Ecostore was founded to what it is now.  12 marks

 

CRITERIA MARKS
4 Provide at least 3 – 4 points to distinguish between SME entrepreneurship and corporate entrepreneurship 20 marks max

 

 

 

 

 

CRITERIA Excellent (%) Very good (%) Good (%) Satisfactory (%) Poor (%) Unacceptable (%)
Task 1a: Theoretical aspects applied to the case study including two reasons for interest in eco-products (maximum 15 marks) Excellent description of the theoretical aspects including two reasons  – 15 marks Very good description of the theoretical aspects including two reasons – 12 marks Good description of the theoretical aspects including two reasons – 9 marks Satisfactory description of the theoretical aspects including two reasons – 6 marks Poor description of the theoretical aspects including two reasons – 3 marks Unacceptable description of the theoretical aspects including two reasons – 0 marks
Task 1b: Explain the concept of information asymmetry  and how it that creates an opportunity in the context of  the Eco-store case and;                                                     Explain any “isolating mechanism” that will prevent others from imitating Eco-store (maximum 10 marks) Excellent explanation on Information asymmetry and isolating mechanism applied to case study – 10 marks Very good explanation on Information asymmetry and isolating mechanism applied to case study – 8 marks Good explanation on Information asymmetry and isolating mechanism applied to case study – 6 marks Satisfactory explanation on Information asymmetry and isolating mechanism applied to case study – 4 marks Poor explanation on Information asymmetry and isolating mechanism applied to case study – 2 marks Unacceptable explanation on Information asymmetry and isolating mechanism applied to case study – 0 marks
Task 2a: Analysis of business opportunities in realizing the market potential for a range of Ecostore innovations (Maximum 10 marks) Excellent analysis of business opportunities in realisng the market potential for the product range at Ecostore – 10 marks Very good analysis of business opportunities in realisng the market potential for the product range at Ecostore – 8 marks Good analysis of business opportunities in realisng the market potential for the product range at Ecostore – 6 marks Satisfactory analysis of business opportunities in realisng the market potential for the product range at Ecostore – 4 marks Poor analysis of business opportunities in realisng the market potential for the product range at Ecostore – 2 marks Unacceptable analysis of business opportunities in realisng the market potential for the product range at Ecostore – 0 marks
Task 2b: Explain the   nature of prior information    that enabled Malcolm to recognize an opportunity. Explain the cognitive properties that enabled Malcolm   to recognize the value of the   opportunity. Explain the new “means-end” relationship that Eco-Store have in providing eco-friendly products (Maximum 15 marks) Excellent explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 15 marks Very good explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 12 marks Good explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 9 marks Satisfactory explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 6 marks Poor explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 3 marks Unacceptable explanation of the nature of prior information and cognitive properties including “means-ends” relationships – 0 marks
Task 3a: Analysis and evaluation of at least two opportunities and two challenges encountered by Ecostore (Maximum 10 marks) Excellent analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 10 marks Very good analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 8 marks Good analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 6 marks Satisfactory analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 4 marks Poor analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 2 marks Unacceptable analysis and evaluation of two opportunities and two challenges encountered by Ecostore – 0 marks
Task 3b: Analyse and explain initial mode of exploitation. Was this initial mode of exploitation ‘successful’? Analyse and explain second/final mode of exploitation (Maximum 15 marks) Excellent analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 15 marks Very good analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 12 marks Good analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 9 marks Satisfactory analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 6 marks Poor analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 3 marks Unacceptable analysis and explanation of the initial mode of exploitation its success and second/final mode of exploitation – 0 marks
Task 3c: What important innovation was recently introduced by Ecostore? (Maximum 5 marks) Excellent account of the recently introduced products and services by Ecostore – 5 marks Very good account of the recently introduced products and services by Ecostore – 4 marks Good account of the recently introduced products and services by Ecostore – 3 marks Satisfactory account of the recently introduced products and services by Ecostore – 2 marks Poor account of the recently introduced products and services by Ecostore – 1 mark Unacceptable account of the recently introduced products and services by Ecostore – 0 marks
Task 4: Provide at least 5 points to distinguish between SME entrepreneurship and corporate entrepreneurship (Maximum 20 marks) Excellent account of the differences between Strategic and Corporate entrepreneurship – 20 marks Very good account of the differences between Strategic and Corporate entrepreneurship – 16 marks Good account of the differences between Strategic and Corporate entrepreneurship – 12 marks Satisfactory account of the differences between Strategic and Corporate entrepreneurship – 8 marks Poor account of the differences between Strategic and Corporate entrepreneurship – 4 marks Unacceptable account of the differences between Strategic and Corporate entrepreneurship – 0 marks

 

Leave a Comment

Your email address will not be published. Required fields are marked *