07 May EVALUATE THE CONCEPT OF ENTREPRENEURIAL STRATEGY.
Social enterprises are businesses that exist for a social or environmental purpose. They tackle social problems, improve people’s life chances, and protect the environment. Innovative, fast-growing and cross sector, the social enterprise movement is changing the way the world does business. In the UK alone there are around 68,000 social enterprises, employing more than a million people and contributing more than £24bn to the economy. There has never been a more important time for businesses to get involved with the Social Enterprise Sector’ (social enterprise.org.uk).
Your task; As the owner of a new business you have been nominated for owner/manager of a ‘Social Enterprise of the Year Award’, you have been approached by the editor of ‘Social Enterprise Wales’ magazine to write an article discussing your social business in detail, which has been running very successfully in Cardiff City Centre for just over a year. The theme for the article should include a critical review of your current position (including the content, context and process) and a clear vision for future growth. Please note; this assessment must be based purely on secondary research.
In addition, please note that the most innovative and creative social business idea will be awarded a prize by the module team. Further details will be discussed during seminars.
Your (exactly) 3500 word article should include;
1) Clear introduction of the activities of your social business.
2) Analysis of your business environment including relevant external analysis related to suitable entrepreneurial theories.
3) Clear evaluation of your double and triple bottom line including measurements tools to be used.
4) Analysis of your customers and competitors including the innovative process used by the business.
5) Provide a long term plan for differentiation.
6) You must have a strong conclusion evaluating possible areas of future growth.
7) You must include references using the Harvard system.
You must be able to demonstrate within your article a clear understanding of the key issues of business policy and the needs of the social sector in particular. This article is not simply a descriptive piece of writing.
Marks will be awarded for:
Clearly introducing your social business including the scope and the double / treble bottom line (10 Marks)
Clearly acknowledging why you have been nominated for the award. (10 marks)
Identifying the key elements of the social business that will give you your USP (20 Marks).
Evaluate your business in relation to entrepreneurial strategy (20 Marks).
Identifying and evaluate your industry’s growth potential (20 Marks).
Structure and presentation of your article (10 Marks).
Appropriate range of academic references including correct use of the Harvard referencing system. References should be in addition to those which have been included in the lecture material and on BB. (10 Marks)
Please note that a seminar has been used to highlight the importance of critical reading and writing based on the text by Wallace and Wray (2009) and also to discuss the requirements of writing an article. Further discussion of both individual assessments will be available in dedicated seminar sessions and on BB.
Students should submit a hard copy of the assessment to I-zone by the due date, please remember the office closes at 4pm, hand-in early as it can get busy!
Learning Outcomes:
(4) Critically evaluate the variety of entrepreneurial processes relating to new business creation, within larger firms (intra-preneurship), control procedures and exit strategies.
(5) Analyse, using relevant theoretical models, the relationships between entrepreneurship and the external environment, including public policy, on the entrepreneurial process.
(6) Evaluate the concept of entrepreneurial strategy.
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