5BE001 - Entrepreneurial Creativity and Innovation & Business Analytics - Entrepreneurship Assignment Help

Assignment Task -                 
 

Albert Einstein once made a famous quotation “In the midst of difficulty there lies opportunity” 

The coronavirus pandemic has changed the global landscape and the rapid speed at which it engulfed all continents took the world by surprise. Many businesses are having to implement rapidly changed models and business strategies to cope with the predicted global recession which will engulf them following lockdown measures.

Whilst some businesses are struggling, others have had to cope with a massively increased demand for their products and services (e.g. couriers and online e-commerce stores). They have experienced problems caused by supply chain shortages. No corner of the market environment (often analyzed through SWOT and PESTLE frameworks) has been untouched by the Covid crisis. Many charities and social enterprises have emerged to cope with the meltdown that social isolation and furlough impositions have created for some sectors of society.

Einstein was also quoted as saying “Chance favors only the prepared mind” and Peter Drucker once suggested, “There are no such things as problems in business, only opportunities”. 
It is certainly true that countless opportunities can be realized through entrepreneurial creativity at the moment. 
Enterprises are being set up to tackle social issues, business needs, and to meet new consumer demands across a range of markets. 
The current business landscape is not for the faint-hearted, but from an entrepreneurial perspective, there are potentially many opportunities for engagement.
 

Your task is to undertake suitable research to identify an innovative opportunity or social need, that has arisen as a result of the coronavirus pandemic. You are then required to present a proposal to create an enterprise to engage with the opportunity or need and suggest how it could be successfully launched.  Your enterprise may be a commercial business start-up; a new strategic business unit within an existing company; a social enterprise; or a charity.

This innovative new enterprise addresses key issues that have arisen due to the Coronavirus pandemic.

The presentation is an extended “pitch” to promote & sell your idea and plans to launch the enterprise – presented to potential supporters.

Your presentation/pitch narrative should refer to relevant academic theories as discussed in the module. Concepts such as entrepreneurship, intrapreneurship, creativity, and innovation will underpin your presentation in varying degrees. Specifically, your presentation should address the following points:

1.State the purpose of the enterprise and provide an overview of the initiative (explain its scope and intended outcome). In what ways will it be creative or innovative? what specific needs will it meet?  What evidence do you have to support there is a need for this provision? Who will benefit from the enterprise? Outline your idea creation process.

2. Identify the products/services/support that the enterprise will offer? What other groups might you need to work in partnership with to make this a success? Define the innovative typology of the initiative (how is it innovative? What form of innovation does it take?). Highlight what gives the initiative a creative flair (how is it different from the norm? or how could it be?).

3. Identify what resources and people you will need to launch the social enterprise? Where will it be located? What will be your role?

4.How will the enterprise generate the necessary revenue to start-up, become established, and run the proposed activities You will need to identify a sustainable business model for the enterprise.

5. How will you market and launch the enterprise? Consider both digital and non-digital marketing communications and planning.

Further guidance will be available from your tutor and via the Panopto tab on Canvas. Please make use of the support available to you.  

Learning outcomes

1. Discuss how creativity and cognitive processes provide the basis for new ideas and innovation when actions are applied into practice.
2. Demonstrate a range of personal creative tendencies and entrepreneurial skills.
3. Apply a range of theories, concepts, and applications of innovation, and identify how these interrelate with technology, commerce, social systems, economic development, and policy construction.

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