{"id":20858,"date":"2023-05-25T19:02:58","date_gmt":"2023-05-25T19:02:58","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/communicate-own-entrepreneurial-innovation-provide-evaluation-and-critical-reflection\/"},"modified":"2023-05-25T19:02:58","modified_gmt":"2023-05-25T19:02:58","slug":"communicate-own-entrepreneurial-innovation-provide-evaluation-and-critical-reflection","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/communicate-own-entrepreneurial-innovation-provide-evaluation-and-critical-reflection\/","title":{"rendered":"communicate own entrepreneurial innovation. Provide evaluation and critical reflection"},"content":{"rendered":"

Integrated project report<\/span><\/h2>\n

This
\nend-of-module assessment (EMA) integrates your learning from Blocks 1\u20134.
\nSpecifically, it builds on your TMAs, where you applied a variety of analytical
\ntechniques to investigate societal problems that are addressed through
\nentrepreneurial innovations. The EMA encourages you to bring together the
\ndifferent strands of the analysis from your TMAs to develop an alternative
\nentrepreneurial innovation as a solution to the societal problem documented in
\nyour TMA 01. It also encourages you to consider how the various components of
\nthe proposed entrepreneurial innovation would operate in practice. This
\nincludes considerations as to whether the proposed solution is best offered
\nthrough a start-up or an existing enterprise, sustainability considerations and
\nclear KPIs<\/span><\/b><\/a> for measuring the impact of the
\nproposed entrepreneurial innovation. <\/span><\/p>\n

Question 1: Communicating my
\nentrepreneurial innovation (20 marks)<\/span><\/b><\/p>\n

Prepare
\na 500-word<\/b> written statement, presenting your entrepreneurial
\ninnovation as a viable opportunity for addressing a defined societal problem.
\nThe statement must address the following issues, which should be linked
\ntogether as a continuous argument using the sub-headings below:<\/span><\/p>\n

\u00b7      <\/span><\/span><\/span>a.What
\nis my entrepreneurial innovation (i.e. a concise description of the idea that
\nyou suggest)?<\/span><\/p>\n

\u00b7      <\/span><\/span><\/span>b.What
\nare my mission, vision and strategic objectives?<\/span><\/p>\n

\u00b7      <\/span><\/span><\/span>c.How
\nwill my entrepreneurial innovation operate in practice (i.e. your sustainable
\nbusiness model)?<\/span><\/p>\n

\u00b7      <\/span><\/span><\/span>d.How
\nwill my entrepreneurial innovation achieve sustainability?<\/span><\/p>\n

This
\nexercise is similar to that of preparing a short presentation, or a \u2018pitch\u2019, to
\na potential investor. Your main aim is to provide your audience with a clear,
\nconcise, coherent and convincing explanation of your entrepreneurial
\ninnovation.<\/span><\/p>\n

Thus,
\nplease keep in mind that your argumentation must clarify your unique selling
\nproposition. With regard to sub-heading (a), you may explain why your idea is
\nboth innovative and entrepreneurial. Referring to (b), you may clearly
\ndistinguish between mission, vision and strategic objectives. Sub-heading (c)
\nrequires reflections on how your entrepreneurial innovation aims to solve the
\nsocietal problem that you address. Sub-heading (d) requires reflections on the
\nlong-term effect of your entrepreneurial innovation and\/or potential future
\ndevelopments.<\/span><\/p>\n

The
\nmarkers recognise that some students may have decided to defer or abandon their
\nentrepreneurial innovation, based on their analysis and\/or the current economic
\nclimate. However, for the purposes of Question 1, you should present your
\nentrepreneurial innovation in a constructive way (i.e. imagine you were taking
\npart in a debate and try to set out the strongest available case for your
\nentrepreneurial innovation). There are opportunities to provide a more critical
\nre\ufb02ection on your entrepreneurial innovation in Question 2.<\/span><\/p>\n

Question 2: Evaluation and critical re\ufb02ection (80 marks)<\/span><\/h1>\n

Write a 2500-word<\/b> report evaluating your
\nentrepreneurial innovation in an objective way (i.e. in contrast to Question 1,
\nyour main aim here is to provide the reader with a detailed and comprehensive
\nassessment of the entrepreneurial innovation and its potential, it is NOT to
\npersuade a potential investor). The report must address the following issues
\nand should be set out in the same order, with the words in bold text being used
\nto indicate the main headings and sub-headings:<\/span><\/p>\n

\u00b7     
\n<\/span><\/span><\/span>a.<\/span><\/span>How
\nentrepreneurial innovations can address societal problems (50 marks)<\/span><\/b><\/span><\/p>\n

Use appropriate analysis techniques to evaluate how and why the
\nsocietal problem(s) can be solved through the entrepreneurial innovation you
\nhave identi\ufb01ed. The application of and critical reflection on the usefulness of
\nmodule concepts for the purposes of your analysis are strongly encouraged. Your
\nevaluation should address the following inter-related topics:<\/span><\/p>\n

o   <\/span><\/span><\/span>Inherent
\nappeal of the entrepreneurial innovation<\/span><\/i><\/b>, including the societal
\nproblem(s) it addresses, the main bene\ufb01ts offered, operational aspects
\n(including its requirements in terms of functional areas of management) and
\ninnovative features.<\/span><\/p>\n

o   <\/span><\/span><\/span>Estimate
\nthe demand for your entrepreneurial innovation<\/span><\/i><\/b>, including
\ndistribution of customer size, an indication of its capacity to become
\n\ufb01nancially viable (e.g. in terms of pricing and having a marketing strategy
\ncapable of attracting a suf\ufb01cient number of target customers), the main
\ncompetitive challenges, and overall growth potential over a speci\ufb01ed time (i.e.
\nthe \ufb01rst 18 months of operations).<\/span><\/p>\n

o   <\/span><\/span><\/span>Financing
\nrequirements<\/span><\/i><\/b> including production and marketing costs, forecast of
\n\ufb01nancial and\/or social returns to be generated by the entrepreneurial
\ninnovation over a speci\ufb01ed time (i.e. the \ufb01rst 18 months of operations), which
\nshould be related to the mission, vision and objectives.<\/span><\/p>\n

\u00b7     
\n<\/span><\/span><\/span>b.<\/span><\/span>Developing
\na sustainable business model (30 marks)<\/span><\/b><\/span><\/p>\n

Use appropriate analysis techniques to evaluate and select the
\nmost feasible sustainable business model for commercialising your
\nentrepreneurial innovation. You are required to select one of three options:<\/span><\/p>\n

o   <\/span><\/span><\/span>Set-up your
\nown enterprise to produce and commercialize your entrepreneurial innovation.<\/span><\/p>\n

o   <\/span><\/span><\/span>Partner
\nwith existing enterprises to produce and commercialise your entrepreneurial
\ninnovation.<\/span><\/p>\n

o   <\/span><\/span><\/span>Defer or
\nabandon the entrepreneurial innovation.<\/span><\/p>\n

If you intend to proceed with either of the first two models, make
\nthis clear and indicate how each of the factors in a) above might be addressed
\nso that you could achieve your objective of addressing societal problems
\nthrough entrepreneurial innovation in a sustainable manner. If you intend to
\ndefer or abandon the entrepreneurial innovation, make this clear and explain
\nwhy you ultimately decided not to proceed with it. In either case, your
\ncritical re\ufb02ection should highlight any signi\ufb01cant modi\ufb01cations to your
\nentrepreneurial innovation during the module, citing specific study activities
\nthat informed these changes. This may include a reference back to your mission,
\nvision and objectives in Question 1(b) and the application of and critical
\nreflection on module concepts.<\/span><\/p>\n

Additional guidance<\/span><\/h1>\n

When you prepare your answers, ensure that you apply the main
\nconcepts provided (CONCEPTS file). Look back at each session and check whether
\nyou have addressed key areas. Be sure to think of your entrepreneurial
\ninnovation as a whole, including the key interactions between different
\nelements and links to a viable sustainable business model.<\/span><\/p>\n

In Question 1<\/span><\/b>, you need to articulate (i.e. explain) your
\nidea in a clear, concise and compelling way. The key to achieving this is to
\nstep back from the detailed analysis and re-describe your idea as simply as
\npossible. It is not necessary to refer to specific analytical theory, concepts
\nor frameworks in your statement, but you should make use of the findings of
\nyour analysis. Ask yourself \u2018What is entrepreneurial innovation and why is this
\nthe focus of my EMA?\u2019 B327 Reader Chapter<\/i><\/b> 1 introduces
\nthe concept of entrepreneurial innovation to mean a \u2018new\u2019 product, process,
\nmethod or organisation in a \u2018<\/span>context<\/span><\/b><\/a><\/span>\u2019 where none existed. Therefore,
\nyou will be familiar with the term from Block 1. You will also have analysed
\nhow existing enterprises use entrepreneurial innovations to address societal
\nproblems across the module and in TMA 01, TMA 02 and TMA 03.<\/span><\/p>\n

In Question 2(a),<\/span><\/b> you need to balance your
\nenthusiasm for the idea with a much more critical perspective, recognising
\npotential weaknesses and identifying ways that they might be addressed. This
\noften means looking across the different functional areas to spot
\ninconsistencies and gaps. The Sustainable Enterprise Challenge in Block 3 and
\nTMA 03 would be very useful here. For example: have you taken full account of
\npotential strategy, production, marketing and financing challenges? Your report
\nshould indicate clearly how you have applied specific theories or frameworks to
\nevaluate the sustainability of your entrepreneurial innovation and your
\nbusiness model. Whenever possible and appropriate, include academic and\/or
\nbusiness sources to clarify and support your line of argumentation.<\/span><\/p>\n

In Question 2(b),<\/span><\/b> ask yourself \u2018what enterprise
\nselection choices are available to you when proposing a sustainable business
\nmodel?\u2019 If you own or manage an enterprise(s) consider whether you can build on
\nit (them) and identify \u2018new\u2019 opportunities for expanding\/growing\/scaling the
\nexisting enterprise or activities. Those students who launched a new business
\nupon completion of B205 can use the B327 EMA to analyse how to scale it. This
\nalso applies to students who studied enterprise examples in other modules or
\nwho work in an existing enterprise. You can also try something entirely new
\n(especially those without relevant experience in the domain of entrepreneurship
\nand innovation) and think of what type of enterprise might be relevant for your
\nproposed business model. We use commercialisation in this EMA broadly as a
\nprocess of introducing the entrepreneurial innovation into a market, whether
\nfor-profit through a private enterprise or not-for-profit through a social
\nenterprise.<\/span><\/p>\n

Keep to the stated word limits for each question. Edit your work
\nseveral times to ensure that the text is clear and concise. Make appropriate
\nuse of figures and tables in the main report to highlight key findings and
\nreduce the word count. Use appendices for your detailed supporting analysis,
\nincluding financial forecasts. <\/span><\/p>\n

\n

 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Integrated project report This end-of-module assessment (EMA) integrates your learning from Blocks 1\u20134. Specifically, it builds on your TMAs, where you applied a variety of analytical techniques to investigate societal problems that are addressed through entrepreneurial innovations. The EMA encourages you to bring together the different strands of the analysis from your TMAs to develop […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[1112],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/20858"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=20858"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/20858\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=20858"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=20858"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=20858"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=20858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}