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Assessment Task 3: Entrepreneurial Process Analysis – Interview with an entrepreneur
Overview
This assessment is designed to provide students with a hands-on opportunity to explore the real-world experiences of entrepreneurs. Students will engage in an interview with a chosen entrepreneur, gaining insights into the entrepreneurial process from inception to current management. The assignment involves analysing the interview data, synthesising key findings, and presenting their findings through a comprehensive analytical report and an infographic.
Purpose
The purpose of this assignment is to connect theoretical concepts learned in class with real-world entrepreneurial experiences, allowing students to witness the application of entrepreneurial principles. It encourages students to develop communication and analytical skills by critically examining the entrepreneurial journey of a real entrepreneur.
Key tasks
Choose an entrepreneur – this could be a local business owner, startup founder, or someone who has successfully established and managed a venture- and conduct an interview. The interview should cover the following topics:
1. Motivation to Start the Business:
- Ask the driving factors and motivations that led the entrepreneur to embark on the journey of starting their own business. Understand the personal and professional inspirations behind their entrepreneurial venture.
2. Demonstration of Entrepreneurial Mindset:
- Explore how the entrepreneur embodies the entrepreneurial mindset. Inquire about their approach to identifying opportunities, willingness to take risks, and ability to innovate and adapt in a dynamic business environment
3. Ethical Dilemmas Faced:
- Discuss any ethical challenges or dilemmas encountered by the entrepreneur during the course of their business endeavors. Delve into how they navigated ethical considerations and integrated ethical practices into their decision-making.
4. Pathway/Venturing Process:
- Gain insights into the specific steps and processes the entrepreneur undertook to initiate and establish their business.
5. Innovation and Business Success:
- Investigate how the entrepreneur’s business stands out in terms of innovation. Examine the innovative aspects that contributed to the success of the business and how these innovations differentiated them in the market.
6. Perception and Exploitation of Opportunities:
- Inquire about the opportunities the entrepreneur identified and capitalised on to develop their business. Understand their perception of market forces, competitive landscapes, and how they strategically leveraged opportunities to drive business growth.
7. Funding Sources Obtained:
- Explore the various funding sources the entrepreneur secured to support their business. This may include discussions on initial capital, investments, loans, or any other financial mechanisms used to establish and run the venture.
8. Vision/Plan for the Business:
- Discuss the entrepreneur’s vision for the future of their business. Inquire about their long-term goals, expansion plans, and strategic initiatives aimed at sustaining and growing the venture over time.
Deliverables
- Analytical Report: Write a comprehensive 2000-word analytical report that summarises the key findings of the topics provided above.
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Infographic/Mind map: Develop an infographic or mind map that visually represents the entrepreneurial process of the venture. Use charts, graphs, and concise text to highlight key milestones by the entrepreneur.
- Evidence: Provide supporting evidence including at least 10 academic references, the interview transcript, the entrepreneur’s Business Card (address), and Photos of yourself and the entrepreneur during the interview.
Assessment criteria
This assessment will measure your ability to:
- Critically analyse data (10 marks)
- Synthesise and accurately present the data and discussion (15 marks)
- Originality, design, and content of the graphic essay (10 marks)
- Present supporting evidence (reference, interview transcript, and other supporting evidence) (5 marks)
Learning Outcomes
The targeted Course Learning Outcomes for this assessment are:
- CLO1: Apply knowledge of entrepreneurship and innovation to support continuous personal and professional development to create a viable entrepreneurial venture.
- CLO2: Identify and analyse the personal attributes that are critical in successfully identifying and developing an entrepreneurial venture.
- CLO4: Analyse the impact of a range of social, cultural, technological and regulatory influences in the process of creating for-profit and/or non-profit ventures.
Questions?
If you have any questions, check the discussion board or alternative video to see if they have already been answered. If not post your question or alternatively ask your teacher in your workshops.
Referencing guidelines
Use RMIT HarvardLinks to an external site. referencing style for this assessment.
You must acknowledge all the courses of information you have used in your assessments.
Refer to the RMIT Easy CiteLinks to an external site. referencing tool to see examples and tips on how to reference in the appropriate style. You can also refer to the library referencing page for more tools such as EndNote, referencing tutorials, and referencing guides for printing.