BIZ301_Assessment 1_Group Venture Plan Page 1 of 7
Task Summary
• Create a novel 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 and theories from the modules to
establish the market validity of the group’s chosen innovation
• Identify the client value proposition, the need in the market for the
chosen product, and the business model canvas.
• Establish market segmentation, channel strategy and the marketing
approach to deliver the innovation to the chosen market
• Develop a financial model for a viable venture
Please refer to the Task Instructions for details on how to complete this Group Assessment.
ASSESSMENT 2 BRIEF
Subject Code and Title BIZ301 Organizational Creativity and Innovation
Assessment Group Venture Plan
Individual/Group Group (3-4 Student per group and to be formed in week 4)
Length 4,000 words +/‐ 10%
Learning Outcomes The Subject Learning Outcomes demonstrated by successful
completion of the task below include:
) Identify organizations that develop and foster
the processes, practices, and attributes for
creativity and innovation.
c) Explain the implications for organizational
strategy, when developing a culture of creativity
and/or innovation.
d) Compare and contrast new venture creation
using either business model generation or lean
startup approaches.
e) Assess the suitability of innovators as agents of
change
Submission Due by 11:55pm AEST/AEDT Sunday of Module 5.1 (week 9)
For intensive (6 week) class: by 11:55p.m. AEST/AEDT Sunday
of Week 5
Weighting 40%
Total Marks 100 marks
BIZ301_Assessment 1_Group Venture Plan Page 2 of 7
Context
Innovation, creativity, and entrepreneurship is growing in importance in order for businesses
to remain competitive. The ability of the contemporary employee or entrepreneur to
operationalize an innovation is a highly valued characteristic in the dynamic global
marketplace.
The process of developing your Group Venture Plan will provide you with key learnings on
how to potentially take an idea from a concept to a globally scalable business. Your final
Group Venture Plan will be similar to a Business Plan, so imagine you are sending your Plan
to a potential investor to seek funding in your novel and innovative idea.
Task Instructions
You will utilise all relevant theories, models, and ideas covered in the subject to develop a
Group Venture Plan that demonstrates an understanding of where and how innovation
transitions to entrepreneurship in a new venture. You must also demonstrate that you
understand, and have properly considered, a number of theories and methods for
inging
the innovation to market. The Group Venture Plan needs to be comprehensive and
compelling in terms of funding and ongoing sustainability.
PLEASE NOTE: The innovation must be novel and not already on the market. Groups who do
not report on a novel idea will result in an automatic failure for the assessment.
Suggested Outline & Content of Group Venture Plan Report:
a) Cover Page – subject name, assessment name, student names, IDs
) Company Information - including your company name, logo, tagline, vision and
mission.
c) Executive Summary
d) Table of Contents
e) Introduction
f) Market Gap & Opportunity, e.g., background to the industry, what problem does
your idea solve, is there a market need for it, who’s your target customer? etc.
g) Value Proposition, e.g., what is unique about your idea, why should somebody buy
it, why are you different to the competition, what is your target market segment,
etc.
h) Marketing & Channel Strategy, e.g., Key Partners, Key Activities, Key Resources. A
Marketing plan such as website, social media, promotions, advertising, campaigns,
etc., and Channels such as direct, indirect, online, physical location, and the 4Ps or
7Ps of marketing, etc.
i) Competitive Strategy & Positioning, e.g., Competitors, Market Share, Positioning
Strategy, Porter’s 5-forces, SWOT, PESTLE, etc.
BIZ301_Assessment 1_Group Venture Plan Page 3 of 7
j) 3-Year Financial Viability, e.g., how will you fund your idea, how much money do
you need to start the business, what are your costs, and what are your prices and
evenue streams, etc.
k) Conclusion
l) References – minimum of 10
m) Appendices – including at a minimum a comprehensive Business Model Canvas.
You should undertake further reading on the organization, in order to enhance your analysis.
Referencing
It is essential that you use appropriate APA style for citing and referencing research. Please
see more information on referencing here in the Academic Writing Guide found via the
Academic Skills website.
Submission Instructions
Submit the Group Venture Plan via the Assessment link at the bottom of the group
homepage by the end of week 9 (one submission per group). Submission of the
assessment must be in word format and pdf, as well as submitted via SafeAssign.
Groups must also submit in the Group’s File Exchange Folder evidence of their individual
contribution to the assessment such as drafts, meeting minutes, text messages, Facebook
chat, etc. Failure to do this will result in marks being deducted.
In addition, each student is required to complete and submit in the Group’s File Exchange
Folder their Team Rating Sheet. Failure of a student to submit the Team Rating Sheet will
esult in mark deductions.
The facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can
e viewed in My Grades.
The Learning Ru
ic below is your guide to how your assessment task will be marked. Please
e sure to check this ru
ic very carefully before submission.
Academic Integrity
All students are responsible for ensuring that all work submitted is their own and is
appropriately referenced and academically written according the Academic Writing Guide.
Students also need to have read and be aware of To
ens University Australia Academic
Integrity Policy and Procedure and subsequent penalties for academic misconduct. These are
viewable online.
https:
laureate-au.blackboard.com/webapps
lackboard/content/listContent.jsp?course_id=_20163_1&content_id=_2498847_1&mode=reset
https:
li
ary.to
ens.edu.au/academicskills/apa/tool
http:
www.to
ens.edu.au/policies-and-forms
BIZ301_Assessment 1_Group Venture Plan Page 4 of 7
Students also must keep a copy of all submitted material and any assessment drafts.
BIZ301_Assessment 1_Group Venture Plan XXXXXXXXXXPage 5 of 7
Assessment Ru
ic
Assessment
Attributes
Fail
(Yet to achieve
minimum standard)
0-49%
Pass
(Functional)
50-64%
Credit
(Proficient)
65-74%
Distinction
(Advanced)
75-84%
High Distinction
(Exceptional)
85-100%
Knowledge and
Understanding
Identify an innovative
idea/project to
develop a venture
plan and scale to a
global organisation
35%
Limited demonstrated
potential for the
innovation.
Limited detailing of
content of the venture
plan to show it scales to a
global organisation.
Adequate describes the
potential of the
innovation.
Adequate detailing of the
content of the venture
plan to show how it scales
to a global organisation.
Exceeds the basic
equirements to
somewhat convincingly
demonstrate the
potential of the
innovation.
Good detailing of the
content of the venture plan
to show how it scales to a
global organisation.
Exceeds the basic
equirements to
convincingly
demonstrate the
potential of the
innovation.
Advanced detailing of
the content of the
venture plan to show
how it scales to a global
organisation.
Professionally and
compellingly “sells” the
potential of the
innovation.
Expert detailing of the
content of the venture
plan to show how it
scales to a global
organisation.
Application and
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
class theory are not
addressed.
Little relevant use of
creativity tools to
a
ive at the chosen
venture idea.
Adequate understanding
of required concepts and
knowledge.
Resembles a recall or
summary of key ideas.
Often confuses assertion
of personal opinion with
information substantiated
y evidence from the
esearch/course
Through understanding
of required concepts
and knowledge.
Supports personal
opinion and information
substantiated by
evidence from the
esearch/course
materials.
Demonstrates a
Highly developed
understanding of
equired concepts and
knowledge.
Discriminates between
assertion of personal
opinion and information
substantiated by robust
evidence from the
esearch/course
materials.
A sophisticated
understanding of
equired concepts and
knowledge.
Systematically and
critically discriminates
etween assertion of
personal opinion and
information
substantiated by robust
evidence from the
esearch/course
BIZ301_Assessment 1_Group Venture Plan XXXXXXXXXXPage 6 of 7
materials.
Some level of rationale
for the chosen venture
and its position in the
market.
capacity to explain and
apply relevant concepts.
Begins to develop a
clear understanding of
the market need,
competitive position,
and customer need for
the venture.
Demonstrates a clear
understanding and
strong approach to
meeting the venture in
a new market.
materials.
Excellent
demonstration of the
venture’s position in a
competitive market-
place and a strong
understanding of the
potential of the
product.
Analysis of the key
drivers for financial
success for the
chosen venture
Develop a 3-year
financial plan
including how to fund
your venture, the
costs and projected
evenues.
15%
Limited or poor
financial analysis.
No clear or convincing
path to financial
viability of the
venture.
Acceptable financial
analysis.
An adequate path to
financial viability of the
venture.
Good financial analysis.
A credible path to
financial success of the