This is a group assignment that builds on the work completed in Assessment 2.
It allows your group/team to showcase the business idea identified by the group as the “best one” during workshops earlier in the unit. The objective of Assessment 3 is to refine student’s business concept development and presentation skills, including what it takes to explain and pitch an idea for a new business venture. It will allow students to appreciate that potential investors take the investment process seriously and will not commit to a project without first scrutinising it carefully.
While working on Assessment 2, your group/team should have identified an innovative business idea that has the best chance of securing a high proportion of a potential investment, assumed to a maximum of $100,000.
In summary, there are two parts to Assessment 3. The first requires everyone in the team to present the idea and sell the proposed business venture to an ‘investor’. The second involves the group/team providing a portfolio of materials (three items) that supports the pitch together with the ‘team charter’ that has guided the performance of the group/team. Each of these is detailed below:
1. Make a 2-minute pitch, which succinctly describes the important aspects of the business concept and the business model to be used.
2. Each team member presents their aspect of the pitch in no more than 4-minutes.
3. Where appropriate, showcase the portfolio of materials to support the presentation
4. The pitch should be structured to include the following:
a) Comprehensive description of the proposed venture idea and underlying business model
b) A high-level discussion of the business case, including: the problem solved; how the idea is monetised; financial feasibility, operational feasibility; and the the scope and scalability of the idea for commercialisation.
c) What you are seeking from the investor
d) What you are offering in return
Portfolio of Materials and Team Charter
The group/team must submit three of the following as part of a portfolio of materials in support of the business idea pitched by the group/team:
1. Description and justification of the innovation process used
2. Cash flow projections and Income Statement for the first two years
3. Short video or animated PowerPoint that explains and sells the business idea to potential investors and customers
4. A draft website (maximum six pages) that explains and sells the business idea to potential investors and customers
5. An example of a blog or newsletter or similar communication that explains and sell the business idea to potential investors and customers
6. A 2-page plan/outline that explains how social media will be used
7. A related application software
8. A short brochure in pdf
9. A prototype of the product
10. A schematic or simulation of the planned service offering
11. Any other item/aspect that demonstrates a key aspect of the product/service you want to develop and which will persuade investors to fund your project.
American Psychological Association (APA)
Assessment Due Date:
Week 12 Monday (28 May 2018) 11:45 pm AEST
The group/team leader is required to upload to Moodle a copy of the Team Charter, Powerpoint presentation, the script, and the portfolio of materials (where practical).
Using the Group Identifier, the group/team leader is required to upload to Moodle the Team Charter, the PowerPoint presentation, script, and portfolio of materials.
Assessment 3 presentations will be assessed in class in Week 12 and the following week as agreed
Return Date to Students
Exam Week Friday (15 Jun 2018)
The assignment will be returned after finalisation of grades.
The Pitch and Portfolio of Materials will be jointly assessed by the ‘investor’ and your lecturer. The ‘investor’ will provide a notional investment out of a maximum $100,000 assigned to the following aspects. Your lecturer will evaluate your pitch on the same aspects as follows:
1. The 2-minute pitch or idea is effectively communicated by the first team presenter. ($5k / 5%)
2. The benefits and significance of the generated idea/solution/are logically and persuasively argued by the whole team. ($10k / 10%)
3. The innovation and/or business opportunity are explained in such a way that the investor understands: how the idea is monetised; financial feasibility; operational feasibility; the scope and scalability of the idea for commercialisation. ($15k / 15%)
4. What you are seeking from the investor. ($5k / 5%)
5. What you are offering in return. ($5k / 5%)
6. The way in which the ideas are structured for the presentation are logical, robust, and persuasive. ($5k / 5%)
7. The portfolio of materials is relevant and impressive. ($25k / 25%)
8. Creativity and flair, and an assuring level of commercial acumen was demonstrated effectively by all members of the team. ($10k / 10%)
9. Everyone has the opportunity to present ‘equally’. ($10k / 10%)
10. Presentation by the group/team exhibited confidence, was engaging, and answered the investor’s questions. ($10k / 10%)
Learning Outcomes Assessed:
· Define and apply key concepts of innovation in commercial, digital, service, and social contexts
· Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles
· Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic
· Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in real-life through the use of teamwork and brainstorming.
· Cognitive, technical and creative skills
· Ethical and Professional Responsibility