PROJECT BRIEF
Project Title Ravensbourne Market Project Value 10% of 15 credits
Unit Title Enterprise and Entrepreneurship – Making it Happen Unit Code
CCU303
Level/Term Level 3 Term 1 Date of Issue October 2010
Submission Date Formative- Presentation 8th of December
Summative- Presentation 15th of December, Deadline for hand in submissions 12th of January 2011
Unit Leader L T Dimitriou
Project Leader and Other Staff L T Dimitriou
Unit Introduction In the Level 1 and Level 2 units of Enterprise and Entrepreneurship, we have focused on:
- spotting opportunities,
- generating ideas and turning them into wealth creating opportunities
- developing market insight and communication as key components of creative entrepreneurial endeavour.
Now, in Level 3, attention turns to ‘making things happen’. This means taking a holistic view of creative entrepreneurial endeavour and the many factors that need to be organised and managed for successful creative enterprise. A key feature of the Level 3 unit will be to give you the opportunity to experience, as closely as possible, the ‘reality’ of entrepreneurial endeavour and the entrepreneurial way of life, deploying the entrepreneurial attributes, skills and behaviours cultivated during the previous two units. These include:
- emotional intelligence, persistence, adaptability, resilience to failure;
- the ability to make decisions and take calculated risks;
- persuasive communication, particularly intelligent use of evidence, both financial and market related, in support of ideas;
- confidence to cross boundaries into unfamiliar worlds to get the resources you need to make things happen.
Through a mixture of lectures, talks by visiting experts, practical workshops, discussions and seminars, you will extend and consolidate your entrepreneurial knowledge and skill, and put it into practice via the unit project. The project will set a creative entrepreneurial challenge that reflects the complexity, buzz, highs and lows of the real entrepreneurial experience and way of life. On successful completion of the unit, you should feel confident in describing yourself as a creative entrepreneur. This means you will have learnt to:
- Identify and understand relationships between the key elements which need to be considered, prioritised and managed to bring an idea to market, notably product or service; target market audience; people; resources (financial and physical);
- Manage complexity, making judgements and decisions with incomplete data;
- Build and utilise networks purposefully;
- Conduct research, build evidence and construct a convincing case in support of an idea;
- Plan the steps required to establish an entrepreneurial enterprise;
- Communicate an idea, product/service concept and/or business case persuasively to a diverse range of audiences.
Project Brief In the Level 3 project, you will choose whether to work on your own or in a group, and whether to work with members of your own discipline or potentially to bring more varied expertise into the project by collaborating with people from a different subject area.
In order to have a ‘real’ entrepreneurial experience we will supply you with the vehicle of an actual market - literally, with market stalls - in which you will display and trade an actual product or service. The market will take place immediately outside the building and in the lobby. You will investigate the predicted footfall expected on Peninsula Square on the afternoon of 15th of December to come up with and/or shape your business including your brand and promotion strategy. Your business can be anything from selling a physical product such as Christmas cards, CDs or t-shirts to a service like designing avatars or photographing visitors, as long as it is tradable and there is feasible income (can be in the shape of a signed procurement agreement) on the day of the market. The product/business will need to conform to any requirements set up by the Market Committee who will need to approve all trade (for details of this committee see below). This includes finding a way of complying with the Ravensbourne brand as well as your team’s/your own brand and that of your stall; you will also need to show off your creativity in order to satisfy our stakeholders and to impress visitors including specially invited business leaders from the creative industries.
You will come up with an initial project plan including budget and action plan (Gantt chart) that will be handed in at the beginning of the unit of study. Throughout the unit you will be using your online learning log or blog to describe your research and learning, covering the process of launching your business including acquisition of skills, contacts and other resources. At the end of the unit you will analyse and review the project’s outcome and result in financial and other terms (we encourage using the ‘triple bottom line’ model). You are expected to analyse why there may be disparity between your initial forecast and the actual results and to tell us what lessons have been learned.
The Market Committee will consist of students from all courses. This committee will take responsibility for the design and implementation of the actual market which will also be their unit project. They will work with the different stakeholders (students, Ravensbourne Marketing Department, EIC, o2, Lendlease, other contributors) to brand, promote and infuse the market with creativity. They will be assessed according to the same assessment criteria.
Some things to consider for the day of the market:
-You must make sure you have an attractive and professional display whether you use a market stall or set up a table next to a digital monitor
-Be prepared - make sure you have enough bags, change, business cards and so on
-Collect contact details from people you chat/ sell to and give them tags such as ‘customer’, ‘potential customer’, ‘potential collaborator’ etc. for future mail out lists and such like. Include these in your project summary.
-You must give a friendly welcome to all visitors to your stall. Try to make conversation with as many passers by as you can.
-Note what seems to grab attention or lead to sales and make that element of your stall as prominent as you can
-If you are working in a team, divide tasks amongst yourselves, for instance one person can ‘do the till’ while another brings people into the stall or demonstrates the project. You can work on a rota but the whole team will need to stay close by as they MUST all be present when the tutor comes to assess the stall.
You will keep a learning log or blog and you must each submit an analysis of your journey and the effectiveness of your enterprise (see below under assessable elements). Each business will also submit an image of what they retrospectively consider their most successful promotional or marketing tool.
We are working in compliance with the institution's group working policy. Guidelines for how to manage group work can be found on Moodle.
Teaching and Learning Strategies and E-Learning
Values, attitudes, knowledge and skills are gained primarily through lectures, seminars, tutorials, practical workshops, and self directed study as well as project based learning. The project will however be the main vehicle for knowledge and understanding, giving you an intensive and an ‘as close to real as possible’ experience of entrepreneurial endeavour. Visiting speakers, including entrepreneurs, are deployed both to inspire and relate your learning to the real world.
Traditional modes of delivery are supported by the VLE. Changes to curriculum are live fed and there are resources, forums and areas in which to upload work online through Moodle.
For project updates you are required to regularly check your emails and unit specific content in Moodle.
Learning Outcomes In order to pass this unit, students must demonstrate the following learning outcomes have been achieved:
A1 Demonstrate awareness and understanding of the key characteristics of entrepreneurial endeavour and the entrepreneurial way of life
B1 Demonstrate an ‘I can’ attitude that facilitates exploration of uncharted territory, overcoming obstacles and learning from failures to make a project work
C1 Demonstrate ability to identify and overcome issues inherent in working with people with different mental models and knowledge sets
C2 Demonstrate ability to identify and analyse strategic and market factors and synthesise data to develop viable solutions
E1 Demonstrate the ability to communicate an entrepreneurial idea, or complex data, simply and persuasively, using appropriate media
E2 Develop an action plan in support of development or realisation of entrepreneurial endeavour
D1 Identify, build and use professional networks in support of a proposition
Assessment Criteria
• Ability to identify the key elements in entrepreneurial endeavour and apply the attitudes, skills and behaviours of entrepreneurial people (A1, B1, D1)
• Ability to identify and develop appropriate strategies for dealing with key issues inherent in working and communicating effectively with diverse stakeholders who may have different mental models and knowledge sets (C1, D1, E1)
• Evidence of capacity to think strategically, gather strategic and market intelligence from a wide range of sources and synthesise data to develop viable propositions/solutions (C2)
• Evidence of ability to identify, build and utilise professional networks (D1)
• Ability to develop a comprehensive action plan in support of entrepreneurial endeavour (E2)