BS6207 Entrepreneurship and Design Thinking Level 6 Assignment Brief | KUL

How Are These Skills Being Developed in this Assessment

This assignment aims to apply design thinking principles to develop a comprehensive business report for a start-up idea. This start-up idea must be based on the presentation in assignment 1. You will demonstrate your ability to conduct market research, plan financing, develop marketing strategies, and consider legal and ethical implications. Additionally, you will present a prototype of your product or service. The skills will be assessed through the quality of the business report that the student has submitted.

Background/Context and Assignment Task

This is a suggestive guideline of the business report format:

Title Page

For example: Company name, logo and slogan

Executive summary

A concise summary of the start-up idea, key findings from market research, proposed financing, marketing strategy, legal and ethical considerations, and a brief description of the prototype

Introduction

• For example: Briefly introduce your start-up idea and the problem it aims to solve.
• Explain the relevance and potential impact of your idea.

General Company Description

• Identify and analyse your target market, including demographics, psychographics, and behavioural characteristics.
•  Conduct a competitive analysis, identifying key competitors and their strengths and weaknesses.
• Discuss market trends and opportunities that support the viability of your start-up.

Products and Services

• Present a detailed description of your product or service prototype.
• Include visuals such as sketches, diagrams, or photos.
• Explain the design process, user testing, and feedback received.

Marketing Plan

Define your unique value proposition (UVP).
Develop a marketing plan that includes:

• Target audience and customer personas
• Branding Strategy
• Pricing strategy
• Promotion and advertising tactics (e.g., social media, email marketing, partnerships)
• Sales and distribution channels

Operational Plan

• Detail the day-to-day operations of your start-up.
• Describe the production process, including any suppliers and manufacturing details.
• Outline the organisational structure and key roles and responsibilities.
• Discuss the location, facilities, and technology required to operate your start-up efficiently.
• Highlight any partnerships or collaborations essential for your operations

Management and Organisation

• Management Team/Principals
• Organisational Chart
• Policy and Strategy

Structure and Capitalisation

Capital Requirements: 

• Common Stock
• Term Loans
• Line of Credit
• Convertible Bond

Financial Plan

• Outline your start-up's financial needs and potential sources of funding (e.g., personal savings, angel investors, venture capital, crowdfunding).
• Provide a basic financial plan, including projected costs, revenue streams, and a break-even analysis.

Legal and Ethical Considerations

• Discuss any legal requirements for your start-up (e.g., business registration, intellectual property, licenses).
•  Address potential ethical issues related to your product or service, operations, and marketing practices.
• Propose strategies to ensure compliance with legal standards and ethical norms.

This assignment makes up 40% of the total grading for this module, and the format of the written report is outlined in the 5 sections/elements below. Please be aware that this is a very important criterion towards your final grade.