For their summative assessment, which will comprise 100% of each student’s mark in this module, students are required to write an essay for their new opportunity/venture, of their choice, that provides a crisp and appealing description of their chosen business idea behind the venture and an explanation of its unique value proposition. The idea for students’ new venture should be developed from their formative assignment. Each student may choose their own, personal idea. Or the same idea may be chosen by more than one student, this isn’t problematic as the focus of the summative assessment is on individual learning of the entrepreneurial process, and students’ learning will inevitably be different from one another based on their reading and personal reflections.
NB: The formative and summative assessments in this module are intimately related to each other as the entrepreneurial process that students learn in developing their venture in their formative assessment is exactly the same as the process that must then be explained, in writing, by drawing on scholarly literature.
As students’ essays will be written for academic examiners they must show a critical understanding of:
1) entrepreneurship literature/themes, that are outlined in class, &
2) how their chosen themes may help in guiding their choice of business idea, the value proposition and in assessing & developing the idea as a new venture in the market.
Students should choose only two entrepreneurial themes to guide their choices in this essay. First, literature to support the entrepreneurial opportunity should be chosen and this should be drawn on to explain the student’s choice of entrepreneurial idea. Additionally, literature/themes of new venture development should be chosen and this should be drawn on to explain one or more possible ways, again at students’ discretion, in which their idea may be developed, with suitable value propositions, in the market. The sections that must be included in students’ essay are as follows:
1. Introduction to the entrepreneurial opportunity/idea and its value proposition (word count: 800 words),
2. Critical presentation of students’ two entrepreneurship themes (word count: 800 words), &
3. Development plans for students’ idea based on their chosen development themes (word count: 900 words).
Students should begin their essay with a brief discussion of the uniqueness and creativity of the idea behind their venture, and not of the technical specifications or sophistication of the idea. Following this initial description, students should focus on points 2. and 3. above in explaining why their idea matters and how their chosen themes support their idea and its development.
Individual Essay of up to 2,500 words