Assessment # 1

Assessment Code: BU035_A1

Assessment Type: Individual Assignment

Subject Code: BU035

Subject Name: Innovation & Entrepreneurship

Briefing Date: Week 1
Submission Date: Week 3
Weighting: 20%

Aims: Demonstrate understanding of the phenomenon of

entrepreneurship and discuss entrepreneurship in the light of
empirical case data using the task questions below

Overview: This assessment requires you to explore the phenomenon of

entrepreneurship in real life situations and analyse and evaluate
opportunities and challenges involved in such situations. Scott
and Venkataraman (2000) propose a framework for viewing
entrepreneurship from the perspective of opportunities:
creation, discovery, exploitation. (Not more than 2,000 words)

Submission The submission will be in the form of a type-written document. A

Format: final soft copy of the assessment must be submitted via Turnitin on
NZSE-Moodlerooms online by the due date.

Standard of English for Level 7 Business Assessments

 All student work that is submitted for assessment must meet the English
requirements for Level 7 business writing.
 Any submitted assessment or part of an assessment that falls below the acceptable
standard of the English requirements for Level 7 business writing will not be
marked.
 If you have any questions regarding the English requirements for Level 7 business
writing, please talk to your tutor.

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Referencing

 You must correctly reference all submitted assessments according to APA 6th ed.
conventions for both in-text citations and in your reference list.
 You are required to reference because it is important to acknowledge the original
source of other people’s ideas, research and opinions, as well as providing evidence
of having undertaken independent research to support your own opinion/point of
view/hypothesis/argument.
 Your tutor can provide further information and guidance on referencing and also
direct you to referencing guides and resources.
 Wikipedia is not considered an acceptable source of reference.
Plagiarism

 Plagiarism is where you use another person’s words, ideas, diagrams or other
original creations without acknowledging or giving credit to that person.
 Any submitted assessment or part of an assessment which has plagiarised content
will not be marked.
 All cases of plagiarism and/or cheating will be investigated and dealt with according
to A08: Misconduct in Assessment Policy.
 If you have any questions regarding plagiarism, please talk to your tutor.
Learning Outcomes:
The learning outcomes associated with this assessment are:
1. Explain the phenomenon of entrepreneurship.
2. Analyse potential business opportunities for a range of innovations.
3. Evaluate the opportunities and challenges involved in realising the market potential of a
creative idea.
4. Distinguish between the natures of entrepreneurship in the contexts of small business versus
larger corporations.

ASSIGNMENT OUTLINE
There are 4 tasks in Assignment 1. Read each task carefully and follow the instructions carefully.

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 Ecostore – Malcolm Rands

BRIEF
This assessment requires you to explore the phenomenon of entrepreneurship in real
life situations and analyse and evaluate opportunities and challenges involved in such
situations. Shane and Venkataraman (2000) propose a framework for viewing
entrepreneurship from the perspective of opportunities: creation, discovery,
exploitation.
Using the facts given in the readings on Ecostore case study, and with the experience of
Malcolm Rands, you are expected to:
1) demonstrate your understanding of the phenomenon of entrepreneurship and
2) discuss entrepreneurship in the light of empirical case data using the task questions
below

ASSIGNMEMENT TASKS

Task 1: How, and why did opportunities for the creation of Ecostore goods and
services become a reality? (LO1)

In order to answer this question, remember to apply the theoretical

perspectives to the case study to show your understanding of the definitions
of entrepreneurship and other aspects of the entrepreneurship phenomenon.
You must do research on the internet / read case studies & articles provided
in Moodlerooms about the ‘green movement’ (towards more environmentally
friendly cleaning products). Identify and explain the factors that have created
a demand in eco-friendly cleaning products, leading to consumer interest in
eco-friendly products.
Cite your references using APA 6th edition in-text referencing.
(Total = 25 marks)

Task 2: Why Malcom and Melanie Rands and not others discover and exploit
these opportunities. How, and why were the opportunities discovered?
(LO2)

In answering this question discuss why Malcolm and Melanie Rands were the
ideal persons to take advantage of this opportunity in the market place. You
must analyse and evaluate these opportunities and show how and why Malcolm
Rands was able to discover/create business opportunities for a range of new
eco-friendly products. Support your answer with specific data from the
case(s)/articles.
Cite your references using APA 6th edition in-text referencing.
(Total = 25 marks)

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Task 3: How, and why the opportunity was exploited (taken advantage of)?
(LO3)

Your answers for the points raised below, must analyse and evaluate at least
two of the opportunities and two of the challenges involved in realizing the
market potential of an eco-friendly product by Ecostore. (10 marks)
 You must explain and analyse the initial mode of exploitation that was
attempted. (5 marks);
 Was it successful? (5 marks);
 Then you must explain and analyse the second/ final mode of exploitation (5
marks), and
 The recent innovation introduced by Ecostore (5 marks).
Cite your references using APA 6th edition in-text referencing.
(Total = 30 marks)

Task 4: When Ecostore was founded in 1994 it was nothing more than a humble
mail-order business (small business). The company is now a leading
New Zealand manufacturer/seller of sustainable household and
personal care products (Malcom and Melanie Rands have now have sold
out of Ecostore to pursue their own personal project).
Compare and contrast the nature of entrepreneurship when Ecostore
was founded to what it is now. (LO4)
Cite your references using APA 6th edition in-text referencing. Refer to the
attached Marking Guide for more details marking criteria.
(Total = 20 marks)

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 MARKING GUIDE
1. How, and why did opportunities for the creation of Ecostore goods and services become a
reality? 15 marks

CRITERIA MARKS
1a Theoretical aspects applied to the case study including Two 15 marks max
reasons for interest in eco-products.
1b Explain the concept of information asymmetry and how it 10 marks max
that creates an opportunity in the context of the Eco-store
case. Explain any “isolating mechanism” that will prevent
others from imitating Eco-store

2. Why Malcom Rands and not others discover and exploit these opportunities. How, and why
were the opportunities discovered? 15 marks

CRITERIA MARKS
2a Analysis of business opportunities in realizing the market 10 marks max
potential for a range of Ecostore innovations
2b Explain the nature of prior information that enabled 15 marks max
Malcolm to recognize an opportunity.
Explain the cognitive properties that enabled Malcolm to
recognize the value of the opportunity.
Explain the new “means-end” relationship that Eco-Store
have in providing eco-friendly products

3. How and why the opportunity was exploited? 18 marks

CRITERIA MARKS
3a Analysis and evaluation of at least two opportunities and two 10 marks max
challenges encountered by Ecostore
3b Analyse and explain initial mode of exploitation. Was this 15 marks max
initial mode of exploitation ‘successful’? Analyse and explain
second/final mode of exploitation.
3c What important innovation was recently introduced by 5 marks max
Ecostore?

4. When Ecostore was founded in 1994 it was nothing more than a humble mail-order
business (small business). The company is now a leading New Zealand manufacturer/seller
of sustainable household and personal care products (Malcom and Melanie Rands have
now sold out of Ecostore to pursue their personal project).
Compare and contrast the nature of entrepreneurship when Ecostore was founded to what
it is now. 12 marks

CRITERIA MARKS
4 Provide at least 3 - 4 points to distinguish between SME 20 marks max
entrepreneurship and corporate entrepreneurship

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CRITERIA
Task 1a: Theoretical aspects applied to
the case study including two reasons for
interest in eco-products (maximum 15
marks)
Task 1b: Explain the concept of
information asymmetry and how it that
creates an opportunity in the context of
the Eco-store case and;
Explain any “isolating mechanism” that
will prevent others from imitating Eco-
store (maximum 10 marks)
Task 2a: Analysis of business
opportunities in realizing the market
potential for a range of Ecostore
innovations (Maximum 10 marks)
Task 2b: Explain the nature of prior
information that enabled Malcolm to
recognize an opportunity. Explain the
cognitive properties that enabled
Malcolm to recognize the value of the
opportunity. Explain the new “means-
end” relationship that Eco-Store have in
providing eco-friendly products
(Maximum 15 marks)
Task 3a: Analysis and evaluation of at
least two opportunities and two
challenges encountered by Ecostore
(Maximum 10 marks)
Task 3b: Analyse and explain initial
mode of exploitation. Was this initial
mode of exploitation ‘successful’?
Analyse and explain second/final mode
of exploitation (Maximum 15 marks)
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Excellent (%) Very good (%) Good (%) Satisfactory (%) Poor (%) Unacceptable (%)
Excellent description of Good description of the Satisfactory description of Poor description of the Unacceptable description
Very good description of the
the theoretical aspects theoretical aspects the theoretical aspects theoretical aspects of the theoretical aspects
theoretical aspects including
including two reasons - 15 including two reasons - 9 including two reasons - 6 including two reasons - 3 including two reasons - 0
two reasons - 12 marks
marks marks marks marks marks
Excellent explanation on Good explanation on Satisfactory explanation on Poor explanation on Unacceptable explanation
Very good explanation on
Information asymmetry Information asymmetry Information asymmetry Information asymmetry on Information asymmetry
Information asymmetry and
and isolating mechanism and isolating mechanism and isolating mechanism and isolating mechanism and isolating mechanism
isolating mechanism applied
applied to case study - 10 applied to case study - 6 applied to case study - 4 applied to case study - 2 applied to case study - 0
to case study - 8 marks
marks marks marks marks marks
Excellent analysis of
Very good analysis of business Good analysis of business Satisfactory analysis of Poor analysis of business Unacceptable analysis of
business opportunities in
opportunities in realisng the opportunities in realisng business opportunities in opportunities in realisng business opportunities in
realisng the market
market potential for the the market potential for the realisng the market the market potential for the realisng the market
potential for the product
product range at Ecostore - 8 product range at Ecostore - potential for the product product range at Ecostore - potential for the product
range at Ecostore - 10
marks 6 marks range at Ecostore - 4 marks 2 marks range at Ecostore - 0 marks
marks
Excellent explanation of Satisfactory explanation of Unacceptable explanation
Very good explanation of the Good explanation of the Poor explanation of the
the nature of prior the nature of prior of the nature of prior
nature of prior information nature of prior information nature of prior information
information and cognitive information and cognitive information and cognitive
and cognitive properties and cognitive properties and cognitive properties
properties including properties including properties including
including "means-ends" including "means-ends" including "means-ends"
"means-ends" "means-ends" relationships "means-ends" relationships
relationships - 12 marks relationships - 9 marks relationships - 3 marks
relationships - 15 marks - 6 marks - 0 marks
Excellent analysis and Very good analysis and Good analysis and Satisfactory analysis and Poor analysis and Unacceptable analysis and
evaluation of two evaluation of two evaluation of two evaluation of two evaluation of two evaluation of two
opportunities and two opportunities and two opportunities and two opportunities and two opportunities and two opportunities and two
challenges encountered by challenges encountered by challenges encountered by challenges encountered by challenges encountered by challenges encountered by
Ecostore - 10 marks Ecostore - 8 marks Ecostore - 6 marks Ecostore - 4 marks Ecostore - 2 marks Ecostore - 0 marks
Excellent analysis and Very good analysis and Good analysis and Satisfactory analysis and Poor analysis and Unacceptable analysis and
explanation of the initial explanation of the initial explanation of the initial explanation of the initial explanation of the initial explanation of the initial
mode of exploitation its mode of exploitation its mode of exploitation its mode of exploitation its mode of exploitation its mode of exploitation its
success and second/final success and second/final success and second/final success and second/final success and second/final success and second/final
mode of exploitation - 15 mode of exploitation - 12 mode of exploitation - 9 mode of exploitation - 6 mode of exploitation - 3 mode of exploitation - 0
marks marks marks marks marks marks
 Excellent account of the Very good account of the Good account of the Satisfactory account of the Poor account of the Unacceptable account of
Task 3c: What important innovation was
recently introduced recently introduced products recently introduced recently introduced recently introduced the recently introduced
recently introduced by Ecostore?
products and services by and services by Ecostore - 4 products and services by products and services by products and services by products and services by
(Maximum 5 marks)
Ecostore - 5 marks marks Ecostore - 3 marks Ecostore - 2 marks Ecostore - 1 mark Ecostore - 0 marks

Excellent account of the Good account of the

Task 4: Provide at least 5 points to Very good account of the Satisfactory account of the Poor account of the Unacceptable account of
differences between differences between
distinguish between SME differences between Strategic differences between differences between the differences between
Strategic and Corporate Strategic and Corporate
entrepreneurship and corporate and Corporate Strategic and Corporate Strategic and Corporate Strategic and Corporate
entrepreneurship - 20 entrepreneurship - 12
entrepreneurship (Maximum 20 marks) entrepreneurship - 16 marks entrepreneurship - 8 marks entrepreneurship - 4 marks entrepreneurship - 0 marks
marks marks

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