Assessment Method Sim Venture Validate: Business Model Canvas (BMC) and Start-up portfolio. Successful completion of the module’s learning outcomes
LUBM302- New Venture Creation Assessment
Canvas Deadline: Tuesday 12th November 2024 by 14.00pm Learning outcomes
At the end of this module, you will be able to:
LO1: Demonstrate how the principles of creativity, innovation and entrepreneurship convert into new processes, products or services.
LO2: Demonstrate awareness of the requirement to understand the needs, wants and behaviour of the various types of potential customers in the marketplace and identify and delivers value proposition to target customer segments.
LO3: Develop the financial forecasts for a new venture- income statement, breakeven, cash flow statement, balance sheet and evaluate these forecasts of financial performance.
LO4: Assess the degree of competition in a market/industry and the likely effect on profitability.
LO5: Apply the concepts involved in developing a planning framework for a new venture and evaluate the key activities involved in the process of starting up a new venture.
Assessment Method
Sim Venture Validate: Business Model Canvas (BMC) and Start-up portfolio.
Successful completion of the module’s learning outcomes will be evidenced by 3,000 start-up portfolios.
You are asked to develop a group/team startup portfolio, not exceeding 3,000 words excluding references. You are required to work in teams/groups (comprising No MORE THAN three members). However, you are asked to submit the start-up portfolio individually. The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline. The assessment for this module draws on your reading and learning from the lecture and workshop sessions. The essay will test all learning outcomes.
Assignment Question
By using Sim Venture Validate, you are asked to develop, plan, test, and share entrepreneurial and innovative idea. To do so, you are required to complete the following tasks:
- You are asked to map out your entrepreneurial idea using the interactive Business Model Canvas within Sim Venture Validate. You are required to build the business model using the 10 blocks of the Business Model Canvas.
- Identify and test critical assumptions.
- Present and share a customizable startup portfolio.
- Download the start-up portfolio by clicking Export button in the Sim Venture platform. You are required to export either pdf OR word file and submit to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline.
Sim Venture Account
To complete LUBM302 assessment you MUST use Sim Venture Validate Online Platform. Your business ideas can be developed, mapped, tested, and shared using Sim Venture Validate. You are required to create an account by clicking the below link:
https://app.validatestartup.com/classes/share/dHQjoJECLinks to an external site.
If you have already created an account, please use the below link to login: https://app.validatestartup.com/onboarding/sign_inLinks to an external site.
See below for details Guidance on Business Start-up portfolio, Assessment Criteria and Marking Rubric.
Guidance Note
The business idea can be real or imaginary. You are not allowed to use existing business idea/business plan to complete the assessment. The chosen opportunity/idea may relate to a project you are already working on, or an idea developed and refined during the ideation process in the LUBM301- Entrepreneurship module.
You can complete the assessment in a group (up to 3). The workshop sessions allow students to build their business start-up portfolio step by step. You are asked to develop a group/team start-up portfolio, not exceeding 3,000 words excluding references. You are required to work in teams/groups (comprising No MORE THAN three members). However, you are asked to submit the start-up portfolio individually. The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline. Accordingly, your name and your Sunderland Student ID number should be included on the front cover of your submission.
The assignment MUST be submitted to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline.
You are required to watch the following video:
https://www.youtube.com/watch?v=3f6uWkwlpFc&list=PLSsP2bQOgaaAzLKzqmcmLhN 2fCwoWoahw&index=5
You are required just to submit a start-up portfolio. You are advised to write up to 3,000 words. This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices, or references. You must include an accurate word count on your title page. Suggested assessment criteria include:
- Clarity, consistency, and originality of value proposition(s)
- Clear identification of target market segment(s)
- Comprehensiveness of market and competitor analysis
- Comprehensiveness of research and testing the business idea
- Comprehensiveness and accuracy of financial projections
- Comprehensive identification of resources required and financing.
- Overall presentation
This is an academic piece of work therefore you are expected to link theory and practice. You should take care to ensure that the work you submit has a high standard of presentation. You must provide supporting evidence for your arguments and use a wide range of resources including academic literature from journals, textbooks and so on.
You must acknowledge your sources of information and evidence using the Harvard referencing system. All assignments are subject to the University’s regulations on collusion and plagiarism and must be submitted in electronic form for checking on Canvas for Turnitin.
The start-up portfolio should be submitted on Tuesday 12th November 2024 by 14:00pm.
For advice on writing skills, you are encouraged to consult the resources on the module and the following site for use of the Harvard referencing system:
https://londonlibrary.sunderland.ac.uk/studyskills/
Your attention is drawn to the university’s policy on plagiarism. Information about how to avoid plagiarism can be found by visiting the following link:
https://londonlibrary.sunderland.ac.uk/studyskills/avoidingplagiarism/
The Start-up Portfolio Marking Criteria/Scheme
q The assessment for this module draws on your reading and learning from the lecture and workshop sessions. You are asked to develop a start-up portfolio, not exceeding 3,000 words. This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices or references. You must include an accurate word count on your title page.
Marking Criteria (ALL aspects detailed in each section MUST be included)
q Executive Summary, Management Team — Provides a concise, thorough overview and effectively outlines main points of the plan. Structured, logical, well presented. Details of ownership and management of the Business, Organisational chart, roles of team members, skills, qualifications, training needs and interests that can be used to best effect for the business venture (15 marks)
q Business/Company Description — Business name, description of the product(s)/service(s), company’s vision, mission and objectives, unique benefits/value proposition, intellectual property details. (20 marks)
q Opportunity Analysis, Research & Testing your Business Idea — Explanation and justification of the market chosen, market research conducted, industry analysis, evaluation of the competition, Primary research conducted (20 marks)
q Financial Plan — Sources of funding identified, include Cash Flow Forecast, Profit and Loss Statement, Balance Sheet for a one-year period, explain contingency plan and growth aims and Breakeven analysis. (15 marks)
q Knowledge & understanding of the Business Model Canvas — Key components of Business Model critically evaluated and discussed in the start-up portfolio (30 marks)
(See marking Rubric below for more detailed guidance)
LUBM302: New Venture Creation- Marking Rubric