Introduction to entrepreneurship/IENT101/Assessment/Edubit

Assessable competency

Review the characteristics of successful entrepreneurs and apply techniques for generating ideas to initiate a market analysis and supporting due diligence assessment for a startup business.

Download print version of Assessment Description and Rubrics for IENT101 (pdf)

You must complete four tasks for this Edubit assessment:

Task 1	Define entrepreneurship and identify typical characteristics of successful entrepreneurs.
Task 2	Apply techniques to generate new business ideas.
Task 3	Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of your own business idea for a new product or service.
Task 4	Identify other market analysis techniques and due diligence assessment processes appropriate for a start-up business.

Consult the assessment rubric before you complete the tasks.

Task 1: Define entrepreneurship and identify typical characteristics of successful entrepreneurs

Performance indicators

You must demonstrate that you can:

1. Define entrepreneurship.
2. Describe three (3) typical characteristics of successful entrepreneurs and provide examples.
3. Apply your learning about successful entrepreneurship to reflect on your own aptitude for entrepreneurship.

Evidence to demonstrate competency

You will need to provide:

• A personal definition of entrepreneurship. (Approximately 50 words)
• A description of three (3) typical characteristics of successful entrepreneurs, together with an example of each characteristic as demonstrated in the life story of two or more entrepreneurs. This should be based on your reading of the literature and credible online resources, with supporting references in APA style. (Consult APA style published by the University of Canterbury.) (Approximately 300 words in total)
• A reflection on your own aptitude for successful entrepreneurship, in which you:
  • Identify at least two characteristics which you consider to be your personal strengths and describe a situation(s) in which you have demonstrated these strengths.
  • Identify at least one characteristic which you feel you need to improve on and reflect on how you might achieve this.
  • Provide an overall conclusion about your personal aptitude for successful entrepreneurship.

(Approximately 300 words)

Task 2: Apply techniques to generate new business ideas

Performance indicators

You must demonstrate that you can:

1. Apply techniques to generate new business ideas.

Evidence to demonstrate competency

You will need to provide:

• A description of the techniques you have applied to generate your business idea(s). (Approximately 400 words)
• An outline of one business idea that you would like to pursue further. (Note: You will use this idea for the remaining tasks for this assessment.) (Approximately 100 words)

Task 3: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of your own business idea for a new product or service

Performance indicators

You must demonstrate that you can:

1. • Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of your own business idea for a new product or service.

Evidence to demonstrate competency

You will need to provide:

• A completed SWOT analysis on the business idea you identified in task 2, using a 4-box table or headings. You should provide at least three items under each heading and a brief explanation of why each item is included in your analysis.

Task 4: Identify other market analysis techniques and due diligence assessment processes appropriate for a start-up business

Performance indicators

You must demonstrate that you can:

1. Select appropriate market analysis techniques for a start-up business.
2. Identify and explain due diligence assessment processes relevant to a start-up business.

Evidence to demonstrate competency

You will need to provide:

• A description of elements that you would include in a market analysis for your business idea, including a rationale for your choices. (Approximately 450 words)
• A written discussion of questions you would expect a potential investor to ask about your business plan when carrying out a due diligence assessment. You should discuss at least five questions, explain why you have selected them, and outline what evidence you would present to satisfy the potential investor. (Approximately 450 words)