MBA7066: Innovation and Entreprenuership Assessment

Assignment Overview

Learning Outcomes Assessed

LO1: Demonstrate a systematic and critical understanding of contemporary tools, techniques, and strategies for innovation management, entrepreneurial thinking, opportunity evaluation, and the development of new ventures.

LO2: Critically evaluate market opportunities, technology developments, and available resources, including sources of capital, and synthesise findings to support innovative value propositions and new ventures.

LO3: Identify and critically evaluate and interrelate stakeholder interests and key risks, including financial, commercial, technical, and legal risks, in the context of a new venture, and propose and justify strategies for managing these complex issues.

LO4: Develop a cogent and justified business plan for a new venture to respond to an evidence-based market opportunity supported by a critical analysis of key risks and key stakeholder interests.

Assessment Task

Scenario

• Celebrating a major mark this year, Northern Powerhouse Investment Fund (NPIF) has provided over £1bn of direct and private sector co-investment to new and growing enterprises worldwide.

• Recognizing the need to enhance innovation for climate change and sustainable development, NPIF has opened a new fund for green/sustainable innovations.

• This initiative aims to encourage innovative business creation and development within areas such as:

  • Sustainability

  • Renewable energy

  • Environmentally-friendly or eco-friendly products

  • Minimisation of carbon footprint

• These areas are critical for meeting global climate change goals.

• NPIF has set aside £150 million to finance greener and sustainable innovations during startup or early stages of operation.

• NPIF is ready to invest in each project (sustainability, renewable energy, eco-friendly products, social innovation, fintech, carbon footprint minimisation) with funding of up to £750,000 per project.

Brief Summary of Assessment Requirements

The assessment focuses on the application of innovation management and entrepreneurial skills in the context of green and sustainable ventures. Students are required to:

• Demonstrate understanding of contemporary tools, techniques, and strategies for innovation and entrepreneurship (LO1).

• Evaluate market opportunities, technology trends, and resource availability, including sources of capital, to support viable business ideas (LO2).

• Identify and analyse stakeholder interests and risks, including financial, technical, commercial, and legal aspects, proposing strategies to mitigate these risks (LO3).

• Develop a well-structured business plan for a new venture based on evidence, supported by critical analysis of stakeholders and risks (LO4).

The assessment scenario involves the Northern Powerhouse Investment Fund (NPIF), which has allocated £150 million to fund sustainable innovations, with investments up to £750,000 per project, focusing on sustainability, renewable energy, eco-friendly products, social innovation, fintech, and carbon footprint minimisation.

Key pointers to be covered in the assessment:

• Market opportunity analysis for a chosen green innovation project.

• Evaluation of resources, including funding options.

• Stakeholder mapping and risk assessment (financial, commercial, technical, legal).

• Development of a structured business plan aligned with sustainable goals.

• Use of models like Mendelow’s matrix, RACI matrix, risk matrix, and Business Model Canvas for structured analysis.

Approach Taken by the Academic Mentor

The academic mentor guided the student in a step-by-step process to complete the assessment successfully, ensuring each learning outcome was met:

Step 1: Understanding the Scenario and Requirements

• The mentor helped the student review the NPIF scenario and identify the core objectives: funding green/sustainable innovations.

• The student was instructed to define the scope of the new venture, focusing on sustainability and innovation.

Step 2: Market Opportunity and Resource Evaluation (LO2)

• The student was guided to research market trends, technology developments, and resource availability relevant to the chosen green innovation.

• The mentor demonstrated how to analyse competitors, potential demand, and funding sources, ensuring the findings could support a compelling value proposition.

Step 3: Stakeholder Mapping and Risk Analysis (LO3)

• The mentor introduced stakeholder analysis models: Mendelow’s Matrix, Salience Model, and RACI matrix.

• The student mapped key stakeholders (investors, customers, regulatory authorities) and assessed their interests and influence.

• For risk analysis, the mentor guided the student to identify financial, commercial, technical, and legal risks and use a risk matrix to categorize and propose mitigation strategies.

Step 4: Business Plan Development (LO4)

• The mentor provided guidance on structuring the business plan to align with evidence-based market opportunities.

• Using models like Business Model Canvas or Hybrid Model, the student formulated:

  • Value proposition

  • Key activities, resources, and partnerships

  • Revenue streams and cost structure

  • Risk management and stakeholder strategies

• The mentor emphasized contextualization and originality, ensuring the plan was specific to the chosen venture and referenced appropriately.

Step 5: Critical Review and Finalization (LO1)

• The mentor supported the student in reviewing and refining the content to ensure clarity, coherence, and critical understanding of innovation management strategies.

• The assessment solution was checked against all learning outcomes to ensure comprehensive coverage.

Outcome Achieved

By following the step-by-step guidance:

• The student successfully demonstrated systematic understanding of innovation management tools and entrepreneurial strategies (LO1).

• The student critically evaluated market opportunities and resources, supporting a strong business case for the chosen green innovation (LO2).

• The stakeholder and risk analysis was comprehensive, identifying key interests and proposing justified mitigation strategies (LO3).

• A well-structured, evidence-based business plan was developed, aligning with sustainable innovation objectives and addressing all critical risks (LO4).

Learning Objectives Covered

• LO1: Systematic understanding of innovation and entrepreneurship tools.

• LO2: Critical evaluation of market opportunities, technologies, and resources.

• LO3: Identification and management of stakeholder interests and risks.

• LO4: Development of a cogent, evidence-based business plan for a sustainable venture.

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