MMM241: Develop a Business Plan for a Business of Your Choice that You would like to Start in the Future: Entrepreneurship and Innovation Assignment, DU, Australia

Description / Requirements

You are required to form groups with three members. If you don’t enroll yourself in a group, you will not be allocated any marks for the second assignment. Each member of the group MUST enroll in a group on-line to enable the submission of the assignment online and allocation of marks to each group member.

AIM

The aim of this assignment is to provide you with a better and practical understanding of the nature of the entrepreneurship process, including the challenges and opportunities that are experienced by entrepreneurs in the twenty-first century, and relate theory with practice.

TASK

Develop a business plan for a business of your choice that you would like to start in the future. The business idea could be either completely new or sufficiently different from any existing business. In order to develop your business plan, you are required to do secondary research on a real-life entrepreneur and his/her business venture, analyze the entrepreneur and their businesses, and how it’s influenced by the environment, and then apply these learnings to develop your own business proposal.

PART A: GROUP REPORT TASK

Working in groups of three, select any industry in which you want to establish your business and identify a real-life entrepreneur working in that industry. The entrepreneur needs to be established in their own business with a website so that you can analyze their business venture by doing secondary research.

Please note that for the purpose of this assignment, you are only required to do secondary research; you are not required to interview or get primary data from the entrepreneur. Students should analyze both the entrepreneur AND their business venture from the online information available.

Selection of the business/entrepreneur:

• The entrepreneur selected should be in business for at least three to five years; and
• The business should be growth-oriented and exhibit innovation in its products or services, systems, processes, etc.

Key aspects of data collection:

• The group will conduct secondary research on the entrepreneur and their business. Secondary data include: analyzing research reports, government reports, censuses, interviews, the Internet, reference books, organizational reports, and journal articles.
• The research should cover aspects of the business, personal attributes, circumstances, and motivations of the entrepreneur as well as the challenges the entrepreneur has faced or is facing. Students should also focus on collecting information on how the business is actually performing (e.g. profitability, growth, human resource issues, products or services, and plans for future growth).