Entrepreneurship and Innovation Assignment Brief
| Qualification | OTHM Level 7 Diploma In Strategic Management And Leadership |
| Unit Reference Number | Y/616/2729 |
| Unit Title | Entrepreneurship and Innovation |
| Unit Level | 7 |
| Number of Credits | 20 |
| Total Qualification Time | 200 Hours |
| Guided Learning Hours (GLH) | 100 Hours |
| Mandatory / Optional | Optional |
| Unit Grading Structure | Pass / Fail |
Unit Aims
The aim of this unit aim is to introduce learners to the basics of business processes and strategies related to enterprise and entrepreneurship, developing knowledge of enterprise and entrepreneurship in global contexts.
Learning Outcomes and Assessment Criteria
| Learning Outcomes – the learner will: | Assessment Criteria – the learner can: |
| 1. Be able to critically analyse the concepts and process of entrepreneurship. | 1.1 Critically analyse the nature, characteristics and challenges of establishing different kinds of enterprise. 1.2 Critically assess own entrepreneurial skills and attributes. 1.3 Evaluate what makes a successful commercial or social entrepreneur. |
| 2. Be able to evaluate innovative and entrepreneurial management processes for a project or organisation. | 2.1 Evaluate methods for encouraging creativity and innovation in organisations. 2.2 Evaluate potential creative and innovative management ideas. 2.3 Critically explore how to lead others to positively embrace innovation and change. |
| 3. Be able to critically assess proposals developed from new ideas. | 3.1 Analyse business ideas. 3.2 Evaluate production, and marketing feasibility of new business ideas. 3.3 Produce business planning forecasts using financial techniques. |
| 4. Be able to develop a business plan. | 4.1 Develop a business plan for a new business. 4.2 Develop a control and monitoring mechanism for the business plan. |
Guidance
There is no scenario for this assignment, you are yourself and need to show entrepreneurship skills.
Task 1 – Business Idea Pitch and Report (AC 1.2 and 1.3)
Instructions:
You are to propose three business ideas for this assignment which could then be explored further in a presentation and report to your class or tutor.
- Review what make a successful commercial or social entrepreneur and evaluate your own skills and attributes in that area.
- Propose the three business ideas and assess the challenges that goes with each of them.
Delivery and Submission:
- 1x Presentation file with speaker notes (500 words)
- 1x Report (500 words) excluding TOC, diagrams, references and appendices
Task 2 Business plan (AC 3.1, 3.2, 3.3, 4.1, 4.2 and 4.3)
Instructions:
Analyse the three business ideas and select the one that is most likely to succeed and create a business plan (including marketing and financing).
You should produce a business plan in which you should:
- Summarise and analyse the selected business idea.
- Analyse the production and marketing feasibility for the selected idea.
- Produce business planning forecast using financial techniques.
- Produce a marketing plan.
- Develop a control and monitoring mechanism for the business plan.
Delivery and Submission
- 1x Business Plan (3000 words) excluding TOC, diagrams, references and appendices
Task 3 – Reflections (AC 1.1, 2.1, 2.2 and 2.3)
Instructions:
You should now reflect on entrepreneurship based on this experience and using the appropriate literature.
Your reflections should:
- Critically analyse the nature, characteristic and challenges of establishing different kind of enterprise and how you individually as a future manager could encourage creativity, innovation and changes.
- With reference to one or more organisations, identify potential creative and innovative management ideas that could contribute to encourage creativity in the organisation.
Delivery and Submission
- 1x Reflections MS Word document (500 words) excluding TOC, diagrams, references and appendices
Referencing:
- Each section must reflect any supporting Harvard style citations.
- A comprehensive Harvard style reference list must be included at the end of the work.
Evidence to be submitted:
- Presentation file with speaker notes – 500 words
- Report – 500 words
- Business Plan – 3000 words
- Reflective Essay – 500 words
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