Grade 12 Entrepreneurship Assignment

"New Idea" Feedback Assignment Over the past week we have discussed the importance of feedback, not only collecting feedback, but being able to accept feedback. This assignment will see you analyse a new business concept and review some of the business basics analysis concepts learned in this unit. Your Task 1) Individually, select a business concept you have or have seen online or have heard is relatively new (Hint: Dragon's Den or Shark Tank is a good place to start). Provide a summary of the concept (note: you can include a video if one is available); 2) Once you have selected an idea, (a) identify and explain its target market, (b) market share, (c) indirect competitors and (d) prepare a SWOT analysis for the idea; 3) Identify and explain which type of business is the best fit for this concept (sole proprietorship, partnership, corporation); Evaluation Rubric Level 1 (50-59) Level 2 (60-69) Level 3 (70-79) Level 4 (80+) Knowledge 14 Explanation of the best fit in terms of type of business. Limited explanation is provided. No reference to business ownership types. Considerable Some explanation explanation is Great explanation is is provided. Some provided. provided. reference to Considerable Reference to business ownership reference to business ownership types. business ownership types. types. Thinking /10 Identification of target market, market share, competition and preparation of SWOT No or limited identification of target market, market share, competition or preparation of SWOT analysis. Some identification of target market, market share, competition or preparation of SWOT analysis. Considerable identification of target market, market share, competition or preparation of SWOT analysis. Excellent identification of target market, market share, competition or preparation of SWOT analysis. Application /10 Collection and use of feedback to recommend changes in concept. Feedback is not collected and no discussion of any changes. Some feedback is collected although no recommended changes are discussed. Feedback is collected and considerable changes are discussed. Feedback is collected and insightful changes are discussed. Communication 18 Description of selected business concept (4); overall communication of (spelling, grammar) (4). Ideas expressed Ideas expressed with limited with some effectiveness; terms effectiveness; most used terms used inappropriately, appropriately, some several grammatical errors. grammatical errors. Ideas expressed with considerable effectiveness; terminology used appropriately few to no grammatical errors. Ideas expressed with a high degree of effectiveness; Highly effective use of terminology, no grammatical errors