Unit 9: Entrepreneurial Ventures

Assignment Brief
Student Name/ID Number

Unit Number and Title Unit 9: Entrepreneurial Ventures

Academic Year 2022 – 2023

Unit Tutor

Assignment Title Entrepreneurial Ventures: Developing a Business Plan

Issue Date

Submission Date

Submission Format

The submission will be in the form of a written comprehensive Project Report (preferably
using 1.5 line spacing, font style Arial/Times New Roman/Calibri and font size 12). You are
required to make use of headings, paragraphs, and sub-sections where appropriate and use
business jargon learnt throughout the unit.

A bibliography must be provided as all work must be supported by research and referenced
using the Harvard Referencing system (or an alternative referencing system). Inaccurate
use of referencing may lead to issues of plagiarism if not applied correctly.

The recommended word limit is 3000-3500 words, although you will not be penalised for
exceeding the total word limit.

Unit Learning Outcomes

LO1 Examine what it takes to be an entrepreneur and the scope of entrepreneurial

ventures.
LO2 Explore the concept of the entrepreneurial mindset and its contribution to
entrepreneurial ventures.
LO3 Assess the impact of SMEs (small medium enterprises) on the economy.
LO4 Explain the importance of intrapreneurship in both public and corporate organisations.

Transferable skills and competencies developed

• Understanding Entrepreneurship, and its theories.
• The ability to develop a business plan.
• Creative thinking for presenting the business plan.

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 • Digital skills, using different software applications to visually present information
and data concisely.
• Communicating effectively in all forms, written, visual and oral, for creating a
business plan with Entrepreneurial Venture understanding.

Vocational scenario

You are the co-founder of your very own startup. You and your team have worked tirelessly
to come up with an innovative product/service that will fill a big market need. The start-up
ecosystem in Pakistan is booming with lots of early-stage start-ups having secured financing
from venture capitalists and angel investors.

You are now preparing to pitch your company to a group of angel investors to secure seed
funding to support the next phase of development. Seed funding is the initial capital
provided to a startup company to support its early-stage development. The purpose of seed
funding is to provide startups with the financial resources they need to develop and test
their products or services, build their team, and establish a business model. Seed funding
is an important component of the startup ecosystem, as it provides a critical source of
funding for early-stage companies that may not yet have a proven track record or revenue
stream. This funding can help startups overcome the initial challenges they face in
developing and launching their products or services and can also help them attract
additional funding from larger investors in the future. The process of obtaining seed funding
can be highly competitive and challenging, as investors are often looking for the most
promising and innovative ideas. Startups seeking seed funding must typically have a well-
developed business plan, a strong team, and a compelling pitch that clearly articulates the
value proposition of their product or service.

The group of angel investors have tasked you to submit a project report with
comprehensive details about your startup and business plan so they can assess if they want
to meet with you for the pitch.

Role

As an entrepreneur, you have been given the opportunity to create your own start up. You
will come up with a business idea, create a business plan and also assess the venture’s
impact on the economy. Your idea should be practical, feasible and should solve a real-
world problem. You can choose any industry or sector you are interested in.

Assignment activity and guidance

You are required to submit a project report as a comprehensive document regarding the
startup, industry and competitor analysis and a viable business plan.

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LO 1 and LO2
Task 1: Overview of Start-up and Industry
a) Introduce your start up and the industry it relates to. Additionally, you can do an
industry analysis to explain why your start up idea was conceived and the road map
to finalizing a definitive idea.
b) As a startup, it is crucial to have a clear grasp of the concepts of entrepreneurship
and what it means to be an entrepreneur. Reflect your understanding about these
two concepts in the context of your start up. This will provide the investors with
confidence that you have an understanding what it means to be an entrepreneur in
this challenging environment.
c) Amongst the entrepreneurial typology such as serial entrepreneurs,
technopreneurs, social and corporate entrepreneurs; critically evaluate which of
these typologies suit you as the co-founder with a clear analysis of ruling out the
others.
d) Exhibit a clear understanding of how closely your start up aligns with either the
corporate or public sector. You should draw examples from two similar startups in
the same industry, one from each sector, to illustrate growth opportunities and risks
in each sector. Clarify, based on that analysis, why you chose the sector (public or
corporate) that you did. Additionally, explain how they are exercising the concept
of intrapreneurship compared to your start up.
e) Critically assess the extent of the impact of your startup on varying levels of the
economy and how you foresee your startup’s position in the international market.

LO3 and LO4

Task 2: Business Plan
In this task you will develop a comprehensive business plan for your start up. Your business
plan should include the following sections:
1. Identification of product/service (new/existing product)
Describe your product or service, including its features, benefits and unique selling
points

2. Market and consumer identification

Identify your target market, customer demographics and purchasing power/habits.
• Secondary research: Collect this data from different sources (journal articles,
blogs, websites, books etc.) and perform an analysis.
• Primary research: Use a close ended questionnaire for market/consumer testing
(10 to 15 questions and minimum 40 responses)

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 3. Marketing Plan
Outline your marketing and sales strategy using the marketing mix (including
advertising, promotions, and sales channels).

4. Costing estimates
• Start-up costs (Cost of NPD and starting the business including equipment, rent,
legal fees etc.)
• Operating costs (list of ongoing costs including salaries, utilities)
• Marketing budget
• Revenue projections (Revenue projections for the first 2 years)

Recommended Resources

Please note that the resources listed are examples for you to use as a starting point in
your research – the list is not definitive.

Textbooks
Blundel, R., Lockett, N. and Wang, C. (2017) Exploring Entrepreneurship 2nd Ed. London:
Sage.

Burns, P. (2016) Entrepreneurship and Small Business. 4th Ed. Basingstoke: Palgrave
Macmillan.

Scarborough, N. and Cornwall, R. (2018). Essentials of Entrepreneurship and Small Business

Management. 9th Ed. London: Pearson.

Weblinks
US Small Business Administration. 10 steps to start your business. Available at:
https://www.sba.gov/business-guide/10-steps-start-your-business

KPMG. Startup Success Guide. Available at:

https://kpmg.com/in/en/home/insights/2021/08/startup-entrepreneurship-success-
guide.html

Forbes. 35 step guide for entrepreneurs for starting a business. Available at:
https://www.forbes.com/sites/allbusiness/2018/07/15/35-step-guide-entrepreneurs-
starting-a-business/?sh=7cee6668184b

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Startup Guide. Available at: https://startupguide.com/

Global Entrepreneurial Monitor (GEM). Available at: https://www.gemconsortium.org

Small and Medium Enterprise Authority. Available at: www.smeda.org.pk

Entrepreneur. Available at: www.entrepreneur.com

TedTalks. Available at: www.ted.com

Harvard Business Review. Available at: https://hbr.org

HN Global

HN Global (2021) Reading Lists. Available at:

https://hnglobal.highernationals.com/learningzone/reading-lists

HN Global (2021) Student Resource Library. Available at:

https://hnglobal.highernationals.com/subjects/resource-libraries

HN Global (2021) Textbooks. Available at:

https://hnglobal.highernationals.com/textbooks

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Learning Outcomes and Assessment Criteria

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