Enterprise & Entrepreneurship Summer term 2011

ARC09103; FAS09103_FPC; FAS09103_FT; FAS09103_M; FAS09103_W; GRA09103; IDA09103

PROJECT BRIEF

Project Title Spotting opportunities Project Value 100% of 15 credits

Enterprise and CCU103
Unit Title Entrepreneurship – Creativity Unit Code
and Good Ideas
Level/Term Level 1 Term 2 Date of Issue April 2011
Formative Assessments-
Advanced uploading of presentation 18th of May 2pm
Live presentations 20th of May
Submission
Summative Assessments-
Date
Advanced uploading of presentation 6th June 2pm
Live Presentations 8th of June
Summative Handins/ Completion of online exam by 14th of June
Unit Leader L T Dimitriou
Project Leader L T Dimitriou, Lorna Hamilton Brown
and Other Staff Administrative staff: Carole Mallett, Sarah Mark
Unit The UK’s creative industries, and particularly London’s, are widely regarded
Introduction as being the most creatively vibrant on the planet. We are renowned around
the world for fostering brilliant creative ideas people. But too many great
ideas never see the light of day without the talents and skills -
entrepreneurial skills - to get them seen and heard in the market.

Great ideas need entrepreneurial skills to turn them into wealth creating
opportunities – for individuals, for businesses and for the economy as a
whole.

This unit complements the subject specialist units by cultivating the

entrepreneurial attributes, behaviours and skills that are essential to
enabling creative practice to flourish and which are the bedrock of
prosperity, both personal and economic, in an increasingly complex and
unpredictable world. The unit provides students not only with an essential
understanding of the creative industries context, and the basic business
structures and processes prevalent within the creative industries, but also
looks beyond to the creative economy, and how creative entrepreneurial
skills are playing an increasingly important role outside the traditional
creative industries.

Through a combination of hands on activities, sessions with visiting

entrepreneurs and experts, and introduction to key conceptual frameworks,
students will experience what it is to use their creative talent
entrepreneurially. This knowledge, understanding and skillset will equip
students to prosper well into the future, in employment, self employment or
in establishing their own business.

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The unit will begin by identifying trends in the world around us and how
these trends can be systematically exploited to offer great creative,
entrepreneurial opportunities.

Students will learn how to:

- articulate the creative process, how to innovate systematically and

turn ideas into potential business concepts;
- recognise, protect and exploit intellectual property, the life blood of
wealth creation in the 21st century;
- work in teams effectively, since nowadays few ideas get realised
without the support of a range of skills, and innovation often comes
from cross discipline collaboration ;
- plan and manage projects, from developing briefs and proposals, to
building budgets, schedules and contracts;
- operate in an ethical manner, essential for long term sustainable
creative practice.

Students will be encouraged to apply the entrepreneurial attributes,

behaviours and skills they acquire in the Enterprise and Entrepreneurship
unit to their work within their specialist subjects and the industry specific
contexts they encounter during their course.

Project Brief
During this unit we will investigate where ideas come from, how they
are valuable and how they can be developed into viable business
concepts. We will see how ideas do not just come from nowhere –the
strong ones are underpinned by hard work, knowledge, awareness
and research. As the great innovator Edison pointed out – genius is
“1% inspiration and 99% perspiration”.

For the Project you will

a) identify an opportunity for an innovative new product, service or
organisation
b) shape your ideas into a business concept proposal
c) create a selling business pitch

The project will give you and your team the opportunity to try out your
creative capabilities in new contexts and pit your wits against fellow teams.

For assessment and grading during this project, you are required to work
together in teams to apply your creativity as follows:

• Having looked at trends and fads in society and keeping your ear to
the ground, identify an opportunity i.e. an idea for a new product or
service that you believe has commercial market potential. This may
be directly related to your subject specialism or can be something
quite different.

• Come up with a business plan where you:

a. Develop the idea into a robust concept, describing
• The opportunity/setting (trends etcetera)

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 Enterprise & Entrepreneurship Summer term 2011
ARC09103; FAS09103_FPC; FAS09103_FT; FAS09103_M; FAS09103_W; GRA09103; IDA09103
• The concept (service, product)
• The target market (segmentation, customer profiles)
• Market need or desire and how you satisfy it
• Who your competitors might be
• Why your concept is better/different and why
• What steps you would need to take next to make your concept
happen

b. Include a basic start up and cash flow budget and a project

implementation/ action plan (Gantt chart) showing key activities
and the timeline required to implement your business concept

c. Create a selling (no more than 10 minute) presentation of your

business concept/idea for a potential funder (e.g. PowerPoint or
equivalent), including rationale for proposed business concept and
supporting evidence, details of the research and analysis you
have undertaken to develop it thus far and the next steps
necessary for taking your concept forward to reality. All members
need to take part in the presentation which will take the shape of a
‘Dragons Den’ style pitch to a panel.

d. You are required to keep a personal project log or blog

throughout the project to record your research and learning
journey. For summative assessment you will fill in an individual
statement through an online questionnaire/ exam where you will
account for your contribution to your group and answer some
questions on content we have covered through the unit. You will
also submit a link to your blog.
What steps do you need to
take to make your concept
happen?

How will you make money?

Business
Is the market set to Idea
change? Is it growing or
slowing down? What are the features and
Implications? benefits of your product or
service?

Who are your

competitors? Who is the target market?
What market need(s) does
your concept satisfy?

Students will do a peer assessment exercise.

Teaching and
Learning For project updates you are required to regularly check your emails and unit
Strategies and specific content in Moodle.
E-Learning
Learning In order to pass this unit, students must demonstrate the following
Outcomes learning outcomes have been achieved:

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A1 Understand the nature of entrepreneurship and its relationship to
creativity, innovation and wealth creation, as well as the social and
environmental impact enterprise can have.

B1 Demonstrate curiosity about, anticipation of and openness to change

and opportunities in the world around us.

C1 Identify opportunities and problems, and generate, critically evaluate

and transform ideas into potential entrepreneurial concepts

D1 Use visual and verbal languages and basic project management tools to
investigate, analyse, interpret, develop and articulate ideas and information

E1 Work effectively both autonomously and in a team

E2 Construct and deliver a cogent presentation in visual, oral and written

format, appropriate to the context and audience

E3 Employ various creative methods

- Ability to recognise and apply entrepreneurial attributes, skills and

behaviours in a business context (A1, B1)

- Ability to identify opportunities and problems, generate and evaluate

ideas (C1, E3)

- Ability to research, analyse and synthesise relevant data (C1)

Assessment - Ability to develop a convincing argument supported by appropriate

Criteria examples and to communicate ideas and concepts cogently and in
formats appropriate to context and audience (D1, E2)

- Ability to plan a course of action and identify resources required to

achieve a goal (D1)

- Evidence of engagement and self direction and the ability to act both
autonomously and in a team (E1)

Assessable For all submissions:

Elements and • All assessment work needs to be uploadable to Moodle for
Submission assessment.
Requirements • Students MUST keep back up of all their work on external media –
just in case there are problems.

Formative assessment
Teams make an oral presentation of a business plan – in other words a
business pitch. They will be asked questions about the research and
rationale behind it by the panel they present to.

Summative assessment
For summative assessment you must:
1 Make a business pitch of your final business pitch to a panel.

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2 Upload to Moodle a copy of the presentation in PowerPoint (or equivalent

electronic format) in advance of the final presentation. Make sure to include
the most important supporting facts and research (including sources) as an
appendix.

3 Answer a questionnaire which will ask about your research, strategy and
material covered throughout the unit. (This is where you will find that
keeping a project log/blog which includes notes about your progress will be
of considerable help.) The questionnaire will be available on Moodle for a
week leading up to the submission deadline (30th of March).

Students will also be required to complete a peer review exercise.

Assessable Elements Percentage of Final Grade

Project 100%
Of which attendance 6%
Group component* 47%
Exam/individual component 47%

* the group component will be modified by the peer assessment. (Group

mark multiplied by % of contribution as valued by other team members).

If you are unable to make it to a session, please let us know by e-

mailing Carole Mallett carole.mallett@rave.ac.uk AND Sarah Mark
s.mark@rave.ac.uk

Key Dates Students must refer to the detailed timetable for times regarding sessions
and lectures.

18th of April 9.30-12: Session 1: Introduction to Project, Trends & Fads

Independent learning: Teams research trends and
prepare short presentations of interesting trends.
Independent study section 1 on Moodle

3rd of May 9.30-12, 1-3.30 Session 2 & 3:Creativity, Innovation,

Business Ideas
Independent learning: Teams start working on their
business plan, researching the viability of their
business idea (making sure to answer the questions
in the diagram at the end of the project brief section
above). Independent study section 2 on Moodle

11th of May 9.30-5: Crash Courses

Independent learning: Teams continue working on
their business plan, researching the viability of their
business idea. Independent study section 3 on
Moodle

13th of May 9.30-12: Session 4: Writing a Business Plan, Pitching for

investment
Independent learning: Teams continue working on
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ARC09103; FAS09103_FPC; FAS09103_FT; FAS09103_M; FAS09103_W; GRA09103; IDA09103
their business plan, researching the viability of their
business idea and preparing pitch for Formative
Assessments. Independent study section 4 on
Moodle

18th May 2pm: DEADLINE: SUBMISSIONS OF PRESENTATIONS in

advance of Formative Assessments.

20th of May 9.30-1: Formative Assessments: Verbal and visual

presentation of business plan (business pitch), no more than 5
minutes. Feedback from tutors and peers to be noted by students in
their blogs.
Independent learning: Teams continue working on
their business plan, researching the viability of their
business idea, preparing pitch and written business
plan for Summative Assessments. Independent
study section 5 on Moodle

6th June 2pm: DEADLINE: SUBMISSIONS OF PRESENTATIONS in

advance of Summative Assessments.

8th June 9.30-5:30: Summative Assessments: Verbal and visual

presentation of business plan (business pitch), no more than 5
minutes.

Tuesday 14th of June: Deadline for completing the individual

submission / online exam.

If you have any other unforeseen and serious difficulties during this unit you
Extensions may apply for an extension, or mitigating circumstances. Full details of how
and Mitigating to do this are available from the Registry intranet site at
Circumstances http://intranet.rave.ac.uk/registry/docs/MITCIRCSFAQ.pdf

All projects at Ravensbourne College are assessed against the College

Grading and
Grading Descriptors. (http://intranet.rave.ac.uk/quality/a_to_z.htm)
Marking
Reading List A constantly revised and updated list of relevant resources can be found on
Moodle.

Intellectual Property
‘From Edison to I-pod’ by Frederick W. Mostert
‘The Creative Economy: How people make money from ideas’ by
John Howkins

http://www.own-it.org/

Brainstorming
‘The back of the napkin’ by Dan Roam

http://www.creativityincubator.com/
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Ideas
‘Made to Stick’ by Chip Heath, Dan Heath

Innovation
‘The ten faces of Innovation’ by Tom Kelley
‘Cool hunting: a guide to high design and innovation’ by Dave
Evans

http://www.businessweek.com/innovation/

Futurology, trends
‘The age of ageing: how demographics are changing the global
economy and our world’ by George Magnus

’60: Innovators Shaping Our Creative Future’ by Lucas Dietrich

‘The meaning of the 21st century : a vital blueprint for ensuring our
future’ by James Martin

http://www.inhabitat.com/
http://www.microtrending.com/blog/
http://www.scribemedia.org
http://www.impactlab.net
http://www.the99percent.com

Project Planning
Search ‘Making a GANTT chart with Excel’ on Youtube or go to:
http://www.youtube.com/watch?v=CW_wGSFavTc&feature=fvw

Presentation
‘The definitive business pitch: how to make the best pitches,
proposals and presentations’ by Angela Hatton

‘Diagrams: Innovative solutions for graphic designers’ by Carolyn

Knight and Jessica Glaser.

Judge business school- Pitching and presenting business ideas

http://www.cfel.jbs.cam.ac.uk/resources/multimedia/pitching.html

Budgeting
http://www.entrepreneur.com/calculators/index.html

All references must be written in the Harvard style of referencing. Refer to

the LRC Booklet ‘How to … Reference your work’.

Learning Learning Support is available through Student Services and includes –

Support English as a second language, academic writing support and dyslexia
support.

For more information on the type of support you can access, either visit the
Student Services Team, or see the Support for Learning brochure which
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 Enterprise & Entrepreneurship Summer term 2011
ARC09103; FAS09103_FPC; FAS09103_FT; FAS09103_M; FAS09103_W; GRA09103; IDA09103
can be downloaded from –
http://intranet.rave.ac.uk/support/Support4Learning.htm

Alternative assessment arrangements may be made or additional learning

support arranged for students with disabilities or medical conditions which
would impair their performance in meeting the above requirements and who
have registered in advance with Student Support. This must be discussed
and agreed in advance with the Subject Leader and will be reported to the
Board of Examiners.

Students who fail this project, or parts thereof, will be required to complete a
resubmission project which demonstrates that they have achieved the
learning outcomes.

Re-Submission Students should be aware that resubmissions are capped at a bare pass
Requirements grade (for City University London Validation) unless the mitigating
circumstances panel uphold an evidenced application.

The deadline for re-submission is 27th of June