Generation and evaluation of idea for a ‘new’ venture, for its possibility for ‘success
You are required to utilise the knowledge and skills gained through the module to generate an idea for a ‘new’ venture, evaluate its possibility for ‘success’ and reflect on your learning. This could be for a business or social enterprise. Note: There may also be an opportunity to develop a ‘new’ business unit within an existing organization or start-up. However, this must be discussed and agreed with the tutor in advance and relate to a business the student is working in or on. This will require you to:
• Use appropriate frameworks discussed during the module to generate potential ‘business’ ideas.
• Develop one of those into a potential ‘business’ opportunity and present it in the form of a ‘Lean Canvas’.
• Apply appropriate approaches to ‘Research’ the potential opportunity and re-evaluate your original ‘Lean Canvas’, with a clear indication of whether it is feasible.
• Critically evaluate the ‘Lean Start Up Approach’ and reflect on what you have learnt about successful entrepreneurship and innovation. In doing so consider what other factors are critical beyond the ‘Lean Start Up’ Approach
