Understanding business and entrepreneurship to make better career or investment decisions through knowing when to commit, when to investigate further and when to walk away.
This assignment asks you to create a practical document that can be used to assess both employment and business opportunities that present themselves in the course of your career. The document should draw from the ideas, models and frameworks introduced in the PP5 lectures.
Using the course material, including the sections on know yourself, understanding business and business models, recognising favourable industry and market conditions, and insights on what investors look for to determine an opportunity’s potential, prepare a guide on how to decide whether you should pursue a specific opportunity, or let it go. Remember, in life it is just as important to know when to say ‘no’ as it is to say ‘yes”.
Your guide should include:
This assignment is a design exercise, you are designing a practical, useful document that can be used by yourself or one of your peers. You have to decide on and pay attention to layout and presentation. You have to decide how many frameworks to select, and what depth of detail needs to be covered. You need to decide whether to include instructions on use or whether it is better to demonstrate how your evaluation document works by applying it to a live situation.
Intended Learning Outcomes being assessed
1. Analyse new venture information to identify the viability or otherwise of a proposal, including: presenting new venture ideas;
Entrepreneurship and business opportunities are constantly emerging in various forms, presenting individuals with choices on whether to pursue them or not. The decision to commit or walk away from a business or investment opportunity can have significant consequences on one’s career and financial wellbeing. To make informed decisions, individuals need to have a comprehensive understanding of the business and entrepreneurship world, including the skills, knowledge, and strategies required to identify, assess, and exploit opportunities. This paper aims to provide a guide on how to understand business and entrepreneurship to make better career or investment decisions by knowing when to commit, when to investigate further, and when to walk away.
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