ASSESSMENT 3 BRIEF
Subject Code and Title ENT301 Lean Business Start-Up
Assessment Market Viability Analysis
Individual/Group Individual
Length 2000 words (-/+ 10%)
Learning Outcomes This assessment addresses the following Subject Learning
Outcomes
c) Test and assess business concept, including risk management strategies, for market viability with stakeholders to reach Go/No Go point.
e) Communicate your business plan/proposal effectively and persuasively to stakeholders and potential investors.
Submission Due by 11:55pm AEST Sunday of Module 3.2 (week 6)
Weighting 40%
Total Marks 100 marks
Context
Entrepreneurs using the Lean Start-Up principles, methods and tools reach a point where, based on the best evidence available, they must decide to continue with the venture or discontinue. This is the GO/NO-GO point. Past this point, the venture moves forward to success, failure, and/or pivot.
In modules 1-4, you have covered the origins of the lean concept, and why these concepts are applied to starting successful businesses. You have investigated the Lean Start-Up principles, used lean tools including the Lean Canvas, and applied the learning to your own venture. You have developed and tested hypotheses with consumers and stakeholders and validated your learning. You have investigated the types of Minimum Viable Products (MVPs) and how to build your own MVP.
You are now ready to analyse the market viability of your own venture and determine the GO/NOGO decision.
The purpose of this assessment is to demonstrate your knowledge of all lean principles, methods, and tools you have studied in modules 1-4 and how they apply to your own venture. You will analyse the readiness of your venture for your market and the readiness of your market for your venture, and reach a conclusion around the market viability of your venture.
Instructions
Conduct an analysis of your own venture for market viability. Your analysis should include the following component as a minimum:
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1. Introduction. Briefly outline your business venture.
2. Lean Start-Up methods you have used. Outline activities you have undertaken, aligning them with methods you have studied in this subject. Include your analysis of the cycles, validation, and learning.
3. Tools you have used. Provide tools such as the Business Model Canvas, Lean Canvas and other tools you have used and completed in your module activities as part of developing your business ideas, assumptions and planning. These may be provided as attachments.
4. Identify stakeholders and consumers in your tests. Provide both details and analysis of why specific people were targeted and why they represent the identified market for your venture.
5. Risk management strategies. Explain and justify the risk management strategies you used or may use in the future of your venture. Include any revisions made as a result of testing and learning.
6. Results of your testing with the market. Analyse and provide your results. These may be provided as attachments.
7. MVP and MVP strategy. Outline your approach to your MVP, its type and strategy to develop.
8. GO/NO-GO. Include your final analysis of the venture’s market readiness. Justify your conclusions
9. Summary. Briefly summarise your market viability as identified in your analysis.
10. Attachments or Appendices (not included in word count).
• Examples of marketing testing results.
• Completed tools used.
• Example of your MVP.
• Correctly cited references.
Referencing
• It is essential that you use appropriate APA 6th edition style for citing and referencing research. Please see more information on referencing here http://library.laureate.net.au/research_skills/referencing
• For additional support on academic skills, please visit: https://laureateau.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_20 163_1&content_id=_2498849_1
Submission Instructions
Submit your Market Viability Analysis Assessment via the assessment link in the main navigation menu in ENT301 Lean Business Start-Up.
The learning facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My Grades.
The below learning rubric guides the marker when awarding marks for your assessment. You should use this rubric to review your assessment task prior to submission, ensuring there is nothing you have missed.
ENT301_Assessment_3_Brief_Market Viability Analysis_Due_Module_3.2 Page 2 of 6
Assessment Rubric
Assessment Attributes Fail (Unacceptable) 0-49% Pass
(Functional)
50-64% Credit
(Proficient) 65-74% Distinction
(Advanced)
75 -84% High Distinction
(Exceptional)
85-100%
Knowledge and understanding of Market Viability in Lean Start-Up methodology.
• Methods,
meaning of learning and validation.
Knowledge of process.
(Component 2)
• Correct use of appropriately selected tools
(Component 3)
• Understanding of MVP, and knowledge of available
strategies
(Component 7)
Percentage for this criterion = 35% Limited understanding of required concepts and knowledge of market
viability as part of the
Lean Start-Up process.
Key components of the assignment are not addressed.
Format is not followed.
Knowledge or understanding of market viability as part of the Lean Start-Up process is adequate.
Resembles a recall or summary of key ideas.
Often confuses assertion of personal opinion with information substantiated by evidence from the research/course materials.
Risk analysis is adequate for start-up phase of a business venture.
Thorough knowledge or understanding of market viability as part of the Lean Start-Up process.
Supports personal opinion and information substantiated by evidence from the research/course materials.
Demonstrates a capacity to explain and apply relevant concepts.
Risk analysis is appropriate to start-up phase of a business venture.
Highly developed understanding of market viability as part of the
Lean Start-Up process.
Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading.
Well demonstrated capacity to explain and apply relevant concepts.
Highly developed risk analysis with testing and assessing of risks.
A sophisticated of market viability as part of the
Lean Start-Up process.
Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading.
Mastery of concepts and application to new situations/further learning.
Demonstrates market
viability with robust risk analysis and incorporation of the results of testing and assessing risks.
Content, Audience and Purpose of the market feasibility analysis. Demonstrates no awareness of context Demonstrates limited awareness of context and/or purpose of the Demonstrates consistent awareness of context and/or purpose of the Demonstrates an advanced and integrated understanding of context Consistently demonstrates a systematic and critical
Percentage for this criterion = 20% and/or purpose of the assignment.
Content is not covered.
assignment as a persuasive presentation based on research and facts.
Audience is not clearly defined. assignment as a persuasive presentation based on research and facts.
Audience is clearly defined. and/or purpose of the assignment as a persuasive presentation based on research and facts.
Analysis is well defined for the audience.
understanding of context and purpose of the assignment as a persuasive presentation based on research and facts.
Is able to provide analysis for a sophisticated audience.
Development of a risk management strategy and analysis of market feasibility using Lean Start-Up tools and methods.
• Analysis of cycles, validation and learning
(Component 2)
• Analysis of why targeted consumers represent the market (Component 4)
• Development &
justification of
risk management strategies
(Component 5)
• Analysis of testing
(Component 6) Limited synthesis and analysis of new knowledge.
Analysis is unrelated to the Lean Start-Up methods and tools.
Analysis of market viability in line with five lean start-up principles, Lean Canvas, validated hypotheses.
Market feasibility is based on test results with appropriate stakeholders.
Risk management strategy
is outlined
Well-developed analysis of market viability, in line with the five lean start-up principles, Lean Canvas, validated hypotheses includes
• analysis of cycles, validation and learning
• analysis of why targeted consumers represent the market
• analysis of market readiness
Market feasibility is based on test results with appropriate and clearly defined stakeholders.
Well-developed risk
management and MVP
strategies
Thoroughly developed and creative analysis of market viability, in line with the five lean start-up principles, Lean Canvas, validated hypotheses includes
• analysis of cycles, validation and learning
• analysis of why targeted consumers represent the market
• analysis of market readiness
Market feasibility is based on test results with appropriate and clearly defined stakeholders.
Thoroughly developed and creative risk
management and MVP
strategies Highly sophisticated and creative analysis of market viability, in line with the five lean start-up principles, Lean Canvas, validated hypotheses includes
• analysis of cycles, validation and learning
• analysis of why targeted consumers represent the market
• analysis of market readiness
Market feasibility is based on test results with appropriate and clearly defined stakeholders.
Highly developed and sophisticated risk
management and MVP
strategies
• Development of MVP strategy
(Component 7)
• Analysis of market readiness
(Component 8)
Percentage for this
criterion =25%
Good flow of information throughout the document.
Resources cited correctly.
Good flow of information throughout the document.
Clearly demonstrates thorough use of Lean Start-Up tools.
Resources cited correctly.
Effective
Communication
Percentage for this
criterion = 20%
Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence.
No clear line of reasoning. Information, arguments, and evidence are presented in a way that is not always clear and logical.
Generally employs specialised language and terminology with accuracy.
Meaning is sometimes difficult to follow.
Information, arguments, and evidence are structured and sequenced in a way that is not always clear and logical.
Some errors are evident in spelling, grammar, and/or punctuation. Information, arguments, and evidence are well presented, mostly clear flow of ideas and arguments.
Accurately employs specialised language and terminology.
Meaning is easy to follow. Information, arguments, and evidence are structured and sequenced in a way that is clear and logical.
Occasional minor errors
present in spelling, grammar and/or punctuation.
Information, arguments, and evidence are very well presented; the presentation is logical, clear, and well supported by evidence.
Communicates coherently and concisely in a manner that adheres to the given format.
Accurately employs a wide range of specialised
language and terminology.
Spelling, grammar, and punctuation are free from errors.
Expertly presented; the presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments.
Engages and sustains audience’s interest in the topic.
Convincing argument for investment.
Discerningly selects and precisely employs a wide range of specialised language and terminology.
Spelling, grammar, and punctuation are free from errors.