GRM3002 Entrepreneurship (Creativity and Innovation)

GRM3002 Entrepreneurship (Creativity and Innovation) - Gulf College

Business Plan

This course is an introductory course in Entrepreneurship and Innovation. The course aims to expose undergraduate students of various academic backgrounds of business venturing and entrepreneurial activity. Students will apply themselves through developing their own business ideas and assessing them using knowledge and skills acquired during the course in a form of a business plan.

Learning Outcome 1: Demonstrate basic skills, understanding and appreciation of entrepreneurship and business venturing.
Learning Outcome 2: Demonstrate a clear appreciation of innovation and entrepreneurship and their importance on the economy.
Learning Outcome 3: Identify the support systems available to new business ventures.
Learning Outcome 4: Articulate and write up a basic Business Plan.
Learning Outcome 5: Appreciate the benefits and risks involved in starting up a new business.

Introduction to entrepreneurship: this part of the course will introduce the theoritical background of entrepreneurship and relevant issues. Entrepreneurship; Innovation and Creativity; Importance of innovation and creativity; Who is an entrepreneur; practical steps to develop oneself to be an entrepreneur; Innovative idea generation; developing business idea and creativity.

Business Knowledge on basic business areas needed in the development of business idea and plan: Accounting and Finance; Marketing, organisational and operations management.

Ecosystem of starting up a new business: Legal process; Professional training and development; Financial and sources of capital; and Infrastructure.

Applied aspects of entrepreneurship and innovation: Business idea generation and evaluation; designing of an individual business plan with the specific standards/requirements.

Others: The three (3) Required seminar-workshops or extra-curricular activities on creativity and innovation to "Encourage"; "Empower" and "Excel" in entrepreneurship.

Assessment Details

This WRIT3-Business Plan (Group) - Write-up comprises 50%; while the presentation 20% of the total assessments marks. These contain two components, the Business Plan write-up and presentation. These will develop the following skills:

• Communication skills. Through the presentation component, students will be able to practice interactive communication skills needed in promoting the viability of the generated business idea.

• Analytical skills. The Business Plan (write-up and presentation) enable the students to analyse and apply the theories and different activities done in the class. This skill will eventually help them evaluate options necessary to make relevant decisions in real life interest for business.
In addition, the assessments will test the following learning outcomes:

• LO2: Develop a clear appreciation of innovation and entrepreneurship and their importance on the economy.
• LO 4: Articulate and write-up a basic Business Plan; and
• LO 5: Appreciate the benefits and risks involved in starting up a new business.

Assessment Task

1. Business Plan Write-up
Write an essay in a business plan format that is based on an innovative and creative business idea. Your idea needs to be based on a product, or a service or e-business.
The generated business idea must be developed into a prescribed Business Plan. This type of assessment requires 2,000 words.

Write a Business Plan that contains the following required parts:
• Introduction - business background
• Marketing Feasibility- viability of the business in the market
• Organisational Feasibility- sustainable organisation of the business
• Socio-economic Impact - bearing of the business to society and economy
• References- Sources of information that support the ‘in-text' citations

2. Presentation
Student is required to articulate a 20-minute "Business Plan Presentation" based on his/her generated business idea to demonstrate critical thinking and verbal skills. The presentation feedback will depend on the panel members' evaluation through the presenters' impressive and substantial answers. The presentation should contain the following information:
A. Introduction- this includes the following:
o Business name and Brief Background
B. Contents/Presentation Coverage- this includes the following:
o Product/s or Service/s Description
o Customer Demographics
o Competition Analyses and Competitive Advantages
o Price Strategy
o Advertising and Promotion Strategy
o SWOT Analyses of the Business
C. Business Viability - this includes the
o Conclusion of the business that highlights its marketability and sustainability
D. Presentation Skills- this includes the following:
o Communication Skills
o Ability to answer questions
o Delivery and fluency of language
o Preparation with persuasive style

Attachment:- Business Plan Template.rar

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