Creating a Winning Business

Nature of the Assessment:

This module is based on a real-life client brief where students will work on developing solutions to existing problems or identify and evaluate new business opportunities.

The Benefits:

This proposition offers a win-win situation:

• Win for SMEs: SMEs can harness the insight, creativity, and expertise of a diverse group of students and faculty to address real issues, challenges, and opportunities.
• Win for London Met students: Students gain exposure to the real challenges facing entrepreneurs, preparing them to work effectively in business and enhancing their problem-solving capability.

Requirement: A 2-minute video business "pitch," developed by students working independently. The video will summarize the problem(s) faced and associated challenges based on the information gathered in the table below. The student needs to produce a script that addresses the dimensions below and present the brief in a concise yet engaging video while facing the camera.

Table 1: Elements that relate to the 2-minute video

• COMPANY PROVIDING THE BRIEF: Company name and name of the contact person

• PROBLEM DEFINITION BRIEF:

  • What is the problem? Nature of the problem (quality, access, communication, etc.)? Origin of the problem? Associated challenges?

• VALUE PROPOSITION of the Business: What is the solution to the identified problem you hope to provide for the business?

• Business Model Canvas and Other Tools: How did these tools/concepts help you address the problem (based on research about the brief)? *See note 1

  • Target Market: Target market(s) associated with the problem
  • Key Forces Acting on Decision Makers: What are your concerns about this problem situation? Time frame for resolution
  • Boundaries/Constraints: What is off-limits or not under consideration (as specified by the brief)? Criteria/Measures for a successful solution
  • Adequacy of Solution:
    • Empirical support
    • Efficiency
    • Effectiveness
    • Support from employer

Assignment: Up to 2-minute video pitch

The requirements and assessment criteria for this assignment are summarized below. The video shall:

• Be engaging, informative, logically structured, with the presenter facing the camera, voice clear, and meeting the time limit
• Explain the problem/unmet need, who is experiencing it, impact, and possible solution(s)
• Explain what are the key assumptions, how you tested them, and the main findings
• Set out your key activities/resources, competitors, and advantages over them
• Explain how your idea will improve the value offered to clients (or help the SME) and any relevant, general financial costs/income streams
• Provide a brief reference to any concept/tools that you may use to address the brief/task