Topic:The ENTR 4435 Strategy Challenge

From SharedExperienceProject

Contents 1 Introduction 2 What's the challenge all about? 2.1 Goals 2.2 Directions 2.3 Notes 3 How Will I Be Assessed?

Introduction

In the first part of this course, you submitted an idea to Google's Project 10¹⁰⁰ - a competition calling for ideas that will change the world by helping as many people as possible.

You then submitted a business model to me explaining how you would make that idea a reality, and you made a 60 second pitch to a panel of judges.

For the rest of the course, you will be working in groups to develop a strategy for one of the ideas submitted by (you or by) your classmates.

In this assignment you are required to:

1. Refine the idea and business model for that idea
   
2. Carry out a relevant external strategic analysis
   
3. Prescribe an ideal internal situation for that business model
4. Develop an appropriate strategy
5. Pitch your strategy and justification
   

What's the challenge all about?

Goals

Your first goal in this challenge is to refine an idea and realistic business model that was developed in the idea portion of this course. Emphasis is on demonstrating the skills and knowledge you have gained in ENTR 4435; your submission can draw on prior knowledge but it must apply what you have learned to date.

Your second goal in this challenge is to carry out an external and internal analyses that will inform your development of an appropriate strategy for the idea and business being developed.

Your third goal is to develop a strategy for the business under development.

Your fourth goal in this challenge is to practice pitching your strategy.

Directions

To succeed in this challenge, you will need to follow these steps:

Step 1: Sign the Confidentiality Agreements for the ideas for which the class will carry out a strategic analysis

• If you are not comfortable signing this agreement, your instructor will find an alternative assignment for you to work on

Step 2: Learn what team and idea you are assigned to

• Team selection was done based on the ideas you expressed interest in working on
• They can be found on Blackboard

Step 3: Refine the idea and business model your team is working with

• Communicate the results in the most effective way possible
  

Step 4: Carry out an appropriate external strategic analysis

• Communicate the results in the most effective way possible
  

Step 5: Prescribe an ideal internal situation for the venture

• Communicate the results in the most effective way possible
  

Step 6: Develop a strategy for the venture

• Communicate the results in the most effective way possible
  

Step 7: Submit your completed Knol on Dec 2, 2008

• Submissions must be made at the time of your pitch
  

Step 7: Do a 300-second pitch of your strategy in class on Dec 2, 2008

Notes

We will work through many examples during the classroom sessions

You are encouraged to also "Publish" your completed Knol to the web to be shared as part of a portfolio of ideas, business models and strategies.

How Will I Be Assessed?

This assignment is worth 25% of your overall grade which will be determined from each of the components as follows:

Assessment for this assignment

Component	Weight
Refined idea and business model, including: Refined idea statement 3 to 6-element business model Refined narrative and numbers tests	15 %
External situation analysis, including: Macro situation analysis External value-chain analysis Five-forces industry analysis Competitive analysis Innovation analysis, if relevant	20 %
Your prescription of the ideal internal situation, including: Description of the venture (profit/non-profit, new/existing, ideal team and organizational chart, etc...), and justification Vision and mission (or relevant alternatives such as meaning and mantra) Internal value-chain analysis Required resources and VRIO analysis	20 %
Strategy: Roll-up of your analysis, e.g. in SWOT or other suitable format The business strategy itself Implementation issues	20 %
Clarity and organization of your written submission	10 %
Quality of your 300-second pitch	15 %

As discussed in class:

• The following criteria will be used to assign the marks for above components:

• TBA
  

• The following form will be used to assess your 300-second pitch:

• Judging form for the pitch

• Each person on the team that is judged to be the best in class will be awarded an additional 5% grade in the course.

The order of the pitches will be determined in class and posted on Blackboard.