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BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7 ASSESSMENT 2 BRIEF Subject Code and Title BIZ301 Organisational Creativity and Innovation Assessment Group Venture Plan Individual/Group Group Length...

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BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7
ASSESSMENT 2 BRIEF
Subject Code and Title BIZ301 Organisational Creativity and Innovation
Assessment Group Venture Plan
Individual/Group Group
Length 4000 words +/- 10%
Learning Outcomes b) Identify organisations that develop and foster the
processes, practices and attributes for creativity and
innovation
c) Compare and contrast new venture creation using
either business model generation or lean start up
approaches
d) Explain the implications for organisational strategy
when developing a culture of creativity and/o
innovation
e) Assess the suitability of innovators as agents of
change
ubmission Due by 11:55pm AEST/AEDT Sunday of Module 5
(week 10)
Weighting 40%
Total Marks 100 marks
Objectives:
 Create an idea of the group’s choice that is innovative, and develop a venture plan
that could
ing it to market
 Demonstrate the use of various creative tools to establish the market validity of the
group’s chosen innovation
 Identify the client value proposition and the need in the market for the chosen
product
 Establish market segmentation, and channel strategy and marketing approach, to
deliver the product/solution to the chosen market
 Develop a financial model for a viable venture
BIZ301_Assessment 2_Venture plan_M5 Page 2 of 7
Context
Innovation, creativity, and entrepreneurship is growing in importance within organisations,
as they pursue excellence and growth in a competitive business world. The ability of the
contemporary employee or entrepreneur to operationalise an innovation is a highly valued
characteristic, in the global market place.
The process of developing the Group Venture Plan will provide you with key learnings on how
to potentially take an idea from a concept to a globally scalable business.
Instructions:
You will utilise all relevant theories, models, and ideas covered in the subject, to develop a
venture plan that demonstrates an understanding of where and how innovation transitions
to entrepreneurship, in a new venture. You should also demonstrate that you understand,
and have properly considered, a number of tools and methods for
inging the innovation to
market. The plan needs to be comprehensive and compelling in terms of funding and ongoing
management. You should also outline a strategy for how a culture of further and ongoing
innovation can occur within the new venture.
Output and deliverable parameters of the assessment:
Content of Venture Plan:
a) Title page – unit name, assessment name, student name, ID
) Idea title (with one-line “tagline”)
c) Executive summary
d) Analysis on possible market gap/opportunity
e) Develop value proposition of the innovative product or service
f) Marketing and channel strategy approach
g) Competitive strategy and positioning
h) Financial viability of the venture using
eak-even, cash flow, and investment needs
i) Appropriate References – minimum of 10 (and using APA standard)
Specifications:
 Assignment with cover sheets submitted via Turnitin
 Report format (section headings and sub-headings are permitted)
 Maximum length, no more than 4,000 words +/-10%
 Spell and grammar-checked
 APA referencing only
Submission Instructions:
BIZ301_Assessment 2_Venture plan_M5 Page 3 of 7
Submit the group venture plan via the Assessment link in the main navigation menu,
y the end of week 10 (one submission per group). The facilitator will provide
feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My
Grades.
BIZ301_Assessment 2_Venture plan_M5 Page 4 of 7
Learning Ru
ic: Assessment 2
Assessment
Attributes
Fail (Unacceptable)
0-49%
Pass
(Functional)
50-64%
Credit
(Proficient)
65-74%
Distinction
(Advanced)
75 -84%
High Distinction
(Exceptional)
85-100%
Grade
Description
(Grading Scheme)
Fail grade is awarded if
a student is unable to
demonstrate
satisfactory academic
performance in the
subject or has failed to
complete required
assessment points, in
accordance with the
subject’s required
assessment points.
No clear distinguishing
approach to the
selected idea for the
venture.
Pass is awarded for work
showing a satisfactory
achievement of relevant
learning outcomes.
Identify appropriate
entrepreneur and
ational for section.
Showing a clear approach
to the idea and rationale
for market success.
Credit is awarded for work
showing a more than
satisfactory achievement
of all learning outcomes
and a more than adequate
understanding of theory
and application of skills. A
clear understanding of the
selected venture and
ationale for the chosen
product.
Distinction is awarded
for work of superior
quality in achieving all
learning outcomes and a
superior integration and
understanding of theory
and application of skills.
Evidence of in-depth
esearch, reading,
analysis and evaluation is
demonstrated while a
clear outline and timeline
of achievements of the
selected venture plan.
High Distinction is
awarded for work of
outstanding quality in
achieving all learning
outcomes together with
outstanding integration
and understanding of
theory and application of
skills. Evidence of in‐
depth research, reading,
and analysis, original and
creative thought is
demonstrated.
Demonstrating clear
approach to the value of
the selected venture
idea and the need in the
market.
Knowledge and
Understanding
Identify a suitable
idea/project to
develop a venture
plan and scale to a
global organisation
Limited demonstrated
potential for the
group's idea/project.
Limited detailing of the
content of the venture
plan to show how it
Adequately describes the
potential for the group's
idea/project.
Adequate detailing of the
content of the venture
plan to show how it
Exceeds the basic
equirements to
somewhat convincingly
demonstrate the potential
of the group's
idea/project.
Exceeds the basic
equirements to
convincingly
demonstrate the
potential of the group's
idea/project.
Professionally and
compellingly ”sells” the
potential of the group's
idea/project
Expert detailing of the
content of the venture
plan to show how it
http:
www.tua.edu.au/media/50742/a240_grading-scheme.pdf
BIZ301_Assessment 2_Venture plan_M5 Page 5 of 7
(35%)
scales to a global
organisation.
scales to a global
organisation.
Good detailing of the
content of the venture
plan to show how it scales
to a global organisation.
Advanced detailing of the
content of the venture
plan to show how it
scales to a global
organisation.
scales to a global
organisation.
Application with
synthesis of new
knowledge
Use of relevant
creativity tools and
approaches for
venture development
(35%)
Limited understanding
of required concepts
and knowledge.
Key elements of the
theory are not
addressed.
Little relevant use of
creativity tools to a
ive
at the chosen venture
idea.
Adequate knowledge or
understanding of the
field or discipline.
Resembles a recall or
summary of key ideas.
Often confuses assertion
of personal opinion with
information
substantiated by
evidence from the
esearch/course
materials.
Some level of rationale
for the chosen venture
and its position in the
market.
Thorough knowledge or
understanding of the field
or discipline/s.
Supports personal opinion
and information
substantiated by evidence
from the research/course
materials.
Demonstrates a capacity
to explain and apply
elevant concepts.
Begins to develop a clear
understanding of the
market need, competitive
position, and customer
need for the product
venture.
Highly developed
understanding of the
field or discipline/s.
Discriminates between
assertion of personal
opinion and information
substantiated by robust
evidence from the
esearch/course
materials and extended
eading.
Demonstrates a clear
understating and strong
approach to meeting the
product/venture in a new
market.
A sophisticated
understanding of the
field or discipline/s
Systematically and
critically discriminates
etween assertion of
personal opinion and
information
substantiated by robust
evidence from the
esearch/course
materials and extended
eading.
Excellent demonstration
of the venture’s position
in the competitive
market place and strong
BIZ301_Assessment 2_Venture plan_M5 Page 6 of 7
understanding of the
potential of the product.
The path to market is
expertly articulated.
Analysis of the key
drivers for financial
success for the
chosen venture
Develop a 3 year cash
flow and profitability
analysis
demonstrating high-
level
eak even
analysis and exit
strategy
(15%)
Limited or poor
financial analysis.
No clear or convincing
path to a positive
financial outcome.
Acceptable financial
analysis.
An adequate
demonstrating of a
conceivable path to
financial success.
Good financial analysis.
A good demonstration of a
credible path to
sustainable financial
success.
Very good financial
analysis.
Thoroughly understands
the market size and
addressable market
opportunity.
A very good
demonstration of a
convincing and thorough
path to financial success.
Expert financial analysis.
Highly sophisticated and
creative analysis, of the
market size and
addressable market
opportunity.
An excellent
demonstration of a
compelling and
comprehensive path to
financial success.
Effective
Communication
Co
ect citation of key
esources and
evidence meeting
Difficult to understand
for audience, no
logical/clear structure,
poor flow of ideas,
argument lacks
supporting evidence.
Information, arguments
and evidence are
presented in a way that
is not always clear and
logical.
Information, arguments,
and evidence are well
presented; mostly clear
flow of ideas and
arguments.
Information, arguments,
and evidence are very
well presented; the
presentation is logical,
clear and well-supported
y evidence.
Expertly presented; the
presentation is logical,
persuasive and well
supported by evidence,
demonstrating a clear
flow of ideas and
arguments.
BIZ301_Assessment 2_Venture plan_M5 Page 7 of 7
APA guidelines for
eferencing
(15%)
Audience cannot follow
the line of reasoning.
Demonstrates
inconsistent use of
good quality, credible
and relevant resources
to support and develop
ideas and/or APA
guidelines.
Line of reasoning is often
difficult to follow,
structure of document is
poor.
Demonstrates use of
credible and relevant
esources to support and
develop ideas, but these
are not always explicit or
well developed or
eferenced.
Answered Same Day Jul 09, 2020 BIZ301

Solution

Sanchita answered on Jul 13 2020
116 Votes
Assignment        2
    
Organic food delivery services in Woolworths, Australia.
E. Value Proposition
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· What specific benefits customers can expect?
Traditionally Woolworths have been known to be customer-friendly company with quality product offerings at best affordable prices. The company seeks to emulate the same for the organic food category. The organization understands that time and health are two of the most valuable thing that individuals are most concerned about, hence Woolworths proposes to provide healthiest range of cereals, fruits, vegetables within day of order. Customers can expect a wide range of food items that are
anded organic, Woolworths knows it well that its customers are diverse and are more likely to have diversified tastes and preferences. Hence, in order to cater...
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