Types of assessment:
Two Parts A and B
Part A Presentation of outline Lean Start Up venture for expert
panel and peer assessment (compulsory formative). PowerPoint
submitted as PDF file to Turnitin
Part B Business report 3000 (+/- 10%) words
detailed Lean Start Up venture including
follow-up to Part A feedback. (Compulsory summative). Word file
submitted to Turnitin
Instructions for assessment
Parts A and B are compulsory and linked e.g. the material in Part A is carried forward into Part B modified using expert feedback and further learning. Feedback given in Part A and the response (i.e. follow-up) must be included in the summative.
The marking Scheme (100%) is the same for both Parts A and B.
High Marks
High marks will be awarded to new, creative and innovative solutions that are clearly profitable and supported by details and evidence (research) that aim to attract finance: investment and/or loans.
The main Value Creation e.g. Value Proposition Canvas and the Value Capture e.g. Business Model Canvas parts and other elements of the taught syllabus (which includes the readings) should be correctly understood and applied. A superficial understanding (i.e. not at QAA level 6) will not pass.
The syllabus contains many techniques to find and access new/innovative business opportunities that would be attractive to investors.
Opportunities must be a) feasible (not based on fanciful ideas and assumptions) and b) financial viable i.e. clearly profitable based on evidence and c) have the potential in future to scale.
Opportunities can a) be completely new or b) a re-engineered or re-imagined version of an existing business.
Student must specify which techniques from the syllabus they used to develop the opportunity.
Opportunities used in previous modules are not acceptable, opportunities that are copies, clones or close variants of existing opportunities are also not allowed.
Students can create new value by a) discovering new ends e.g. unmet needs and/or b) applying new means yo solve existing needs e.g. i) Block-chain, ii) Artificial intelligence iii) Carbon neutral iv) Circular no environmental economy v) Social inclusion and equality.
The emphasis in your work must be on: a) how you found the opportunity b) the novelty, uniqueness, creativity of the opportunity b) the financial profitability of the opportunity, c) evidence gathered using academic research methods, d) the realism and feasibility of the business development (value capture) plan. The value capture plan must be of a quality to gain the finance needed to bring the opportunity to reality.
Students are advised to use diagrams (e.g. VPC, MVP, BMC and other models), tables and spreadsheets to support their plan (it also saves on word count).
Do not cut and paste from lecture notes and websites etc., it doesn’t demonstrate understanding. All references will be checked during the marking process and should be from the taught syllabus readings or closely related sources.
PART A & PART B: BOTH ARE INDIVIDUAL ASSESSMENT THIS SEMESTER : NO NEED FOR GROUP WORKS. THE BELOW INFORMATION WILL BE ADOPTED FOR INDIVIDUAL WORK .
Part A Grades:
The individual presentation will be graded by the tutor into 3 broad ‘traffic light’ indicative categories using the marking criteria. At this stage the quality of the business proposal and the understanding of the syllabus will be key.
Green 60% plus (in good shape to progress to Part B).
Amber 40-50% (can progress to Part B, but substantive changes are required).
Red 40% or below (inadequate (fail) and should not proceed, contact your tutor for guidance).
Part B Summative Assessment: Individual Venture Development Proposal (submitted to Turnitin as Word Document) (100% of module marks
Format: Lean Start-Up Business Development Plan (one C-level perspective) with full Harvard references.
Font: Arial font size 11 or 12 point, (this font). In the business world organisations will have a compulsory ‘house style’ and font.
Word Limit: 3000 words i.e. the Appendices and References do not count towards the 3000 word limit.
Prerequisites for Part B:
The individual report must reference the tutor’s prior approval, presentation of Part A and the feedback received. Any reports not meeting these criteria will not be read, not given feedback, and will receive a mark of zero.
Task:
As this is individual work students should cover all the Plan from a CEO perspective from:
Marketing Plan – value proposition, advertising, customer engagement, sales, etc.
Operational Plan– doing the business, making product, delivering service, shipping, orders, suppliers, partners, etc.
Technology/Information Plan ) – Core technical solution (if there is one) also key IT systems and data processing, etc.
Human Resources Plan() – deciding the organisational structure, the balance between employed and contract staff, specifying, hiring and developing people to be employed in the business, etc.
Financial Plan – costing, pricing, cash management, need for finance, raising finance, etc.
.
Lean Start-Up Business Plan Components. Structure Note:
Cover page. A photo or diagram of the product/service that conveys its creativity.
Introduction to the Lean Start-Up. (250 words). The C level perspective being taken, the Part A process including feedback. Profit, creativity, lean characteristics.
Business Objectives. Profit, sales revenue and profit margin objectives for the first three years of operation (250 words).
Value Creation: Customer Value Proposition Canvas (Diagram) Minimum Viable Product
Individual student explanation, extensions and details as per the taught syllabus. (500 words)
Value Capture: ‘Lean’ Business Model Canvas (Diagram)
Individual student explanation, extensions and details as decided by the individual student) of the Business model (means-ends transformation process. (500 words)
Detailed Development Plan (1000 words) with references to Appendix I One of :
Marketing Plan
Operational Plan
Technical Solution and Information Technology Plan
Human Resources and Organisation Plan
Financial Plan (Note: All students must explain why the start-up is financially viable and profitable)
Critical evaluation of the plan and any possible future developments, competitor moves, changes in customer needs that need to be accounted for (e.g. Pivots see Ries Chapter 8). (250 words)
Summary: Why is a profitable, competition beating, value creating ‘lean’, investable entrepreneurial opportunity? Why should someone invest in and/or provide loan finance to this Lean Start-Up? Complete this sentence: If your start-up never existed, the world would be worse off because… (250 words)
The plan must include one appendix: (not included in the word count).
Appendix I) Primary and Secondary Market Research
Supporting data for the specific C level plan presented e.g. market size, market growth, customer preferences, segments, competitors, key partners, channels, technologies, job descriptions, labour market information, sources and cost of finance, etc.