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Rationale The rationale for this assessment is to bridge theoretical knowledge w
Rationale The rationale for this assessment is to bridge theoretical knowledge with practical analysis within the realm of entrepreneurial ecosystems. It aims to equip you with a nuanced understanding of how these ecosystems operate, including the identification and analysis of key actors, dynamics, and recent developments that influence these environments. By undertaking this task, you will not only deepen your comprehension of the nature of entrepreneurial ecosystems but also enhance your analytical skills. This prepares you for the complexities and challenges of engaging with and contributing to these ecosystems effectively, fostering a practical and critical mindset essential for future entrepreneurs. Overview In this assessment, you will create a 5-minute video presentation to map out an entrepreneurial ecosystem. You will select an ecosystem that interests you or aligns with a potential business idea. Your task involves dissecting its main components, including key resources, players, and dynamics. You will pinpoint a recent development and forecast a future challenge or trend. Through this exercise, you will deepen your understanding of how entrepreneurial ecosystems function and enhance your analytical skills. Your presentation will demonstrate your ability to convey complex ideas clearly, engage your audience, and apply theoretical concepts to practical scenarios. This assessment evaluates your proficiency in selecting, analyzing, and visually mapping entrepreneurial ecosystems, showcasing your insights into their dynamics and future prospects. Learning Outcomes The targeted Course Learning Outcomes for this assessment are: CLO 1 Apply relevant theories to critically distinguish between innovative and non-innovative entrepreneurship. CLO 2 Examine various types of innovative entrepreneurship in practice and their implications for entrepreneurs. Task Components 1. Ecosystem Selection (5 points) Task: Choose an entrepreneurial ecosystem that interests you or resonates with your entrepreneurial aspirations. Your selection does not necessarily need to be tied to an innovative business idea; rather, focus on an ecosystem that intrigues you or aligns with your interests. The ecosystem you choose should be industry-specific and closely associated with a particular location. For example, if you envision opening a coffee shop, you should explore the entrepreneurial ecosystem for the hospitality industry in Melbourne. Similarly, if your goal is to establish a boutique consultancy firm, consider examining the ecosystem for consultancy services in Victoria. This approach will help you gain a deeper understanding of the specific challenges and opportunities within your chosen field and location. Criteria: Present a comprehensive description of the selected entrepreneurial ecosystem, including relevant aspects and excluding irrelevant points. Highlight its unique characteristics. Make use of the theories or frameworks from Weeks 1 to 4 that fit well with your discussion. 2. Ecosystem Analysis (10 points) Task: Analyze the chosen ecosystem by focusing on its key resources (such as capital, talent, technology), key actors (such as startups, investors, support institutions), and the interactions among these actors. Examine the overall dynamics that characterize the ecosystem, exploring how entrepreneurship is facilitated or hindered. Utilize mapping techniques to visually represent these elements and their relationships. Criteria: Provide a comprehensive overview of the ecosystem’s structure and functioning. Your analysis should highlight how key resources and actors contribute to the ecosystem’s vibrancy and resilience. Showcase the interdependencies and synergies within the ecosystem, emphasizing the importance of each element in creating a dynamic and sustainable ecosystem. Make use of the theories or frameworks from Weeks 1 to 4 that fit well with your discussion. 3. Recent Development (5 points) Task: Identify and discuss one significant recent development within the ecosystem that has occurred within the last three years. This could encompass various aspects such as regulatory changes, major investments, technological breakthroughs, or any event that has had a substantial impact. Criteria: Analyze how this development has influenced the ecosystem, considering shifts in power dynamics, emerging opportunities, and potential challenges it has introduced. Assess both positive and negative consequences, and explore the implications for entrepreneurs, investors, and other stakeholders. Additionally, provide credible sources (e.g., academic journals, industry reports, reputable news outlets) to validate the identified recent development, demonstrating your ability to conduct research. Make use of the theories or frameworks from Weeks 1 to 4 that fit well with your discussion. 4. Future Challenge or Trend (5 points) Task: Forecast one potential challenge or trend that could influence the ecosystem in the next five years. Consider factors like technological advancements, market shifts, policy changes, or social trends. Criteria: Discuss the implications of this challenge or trend for the ecosystem. Consider how it might alter the landscape for entrepreneurs, investors, and other actors within the ecosystem. Provide insightful reflections on how stakeholders might respond or adapt to mitigate risks or capitalize on emerging opportunities. Make use of the theories or frameworks from Weeks 1 to 4 that fit well with your discussion. 5. Effective Presentation (5 points) Task: Create and deliver a 5-minute video presentation that effectively communicates your analysis and insights regarding the chosen entrepreneurial ecosystem, its dynamics, a recent development, and a future challenge or trend. Criteria: Your presentation will be assessed on its clarity, engagement, professionalism, and technical quality. This includes: Clarity of Expression: Information is presented in a clear, concise manner, making complex ideas accessible. Engagement: The presentation captures and holds the audience’s interest, utilizing visual aids or storytelling where appropriate. Professionalism: Your on-camera presence and the overall presentation style should be professional, reflecting the seriousness of the topic. Technical Quality: The video should be free of technical issues, with good audio and visual quality, and any visual aids used should be clear and relevant to the content being presented. Tip#1: Approach the task as if you are working for a venture capital or consulting firm, analyzing the ecosystem with a professional mindset on behalf of your employer or client, or as if you are an entrepreneur, seeking a deeper understanding of the ecosystem where you intend to launch a business. Tip#2: Use the theoretical perspectives or frameworks we learned in Weeks 1 to 4 as a guiding lens for your mapping, allowing these concepts to shape your analysis without overwhelming it. It’s not necessary to discuss these theories in detail, but you can subtly link your discussion to them, ensuring a clear connection. Focus on applying theory pragmatically rather than reviewing the theoretical literature. Aim for a nuanced understanding that enhances your analysis with theoretical grounding while keeping the practical focus forefront. Example #1: Utilize the BEEP Ecosystem Framework to identify core and peripheral actors within your ecosystem and highlight the interactions between them. This helps to understand the ecosystem’s structure and dynamics. Example #2: Refer to the value, rarity, inimitability, and non-substitutability of resources when discussing key resources for entrepreneurial activity in the ecosystem. This approach underscores their role in achieving competitive advantage. Example #3: Utilize insights from Social Network Theory to examine the strength and diversity of networks within the ecosystem, emphasizing the importance of finding the right connections. This facilitates the flow of information, resources, and support essential for entrepreneurial activity and innovation. Video Presentation Guidelines Duration: 5 minutes maximum. Content: Include an introduction to your chosen ecosystem, the analysis, the recent development, and the future challenge or trend. Conclude with a summary of your findings and insights. Format: Be creative in how you present your analysis. You can use visuals, diagrams, or any other tools that help convey your message effectively. Ensure your narration is clear and your argumentation is logical. On-Camera Presence: Throughout the presentation, you must be visibly present on camera, preferably in the corner of the screen. This requirement is to ensure a personal touch to your presentation, enabling assessors to connect with you as the presenter. It also adds an element of authenticity and engagement to your submission. Submission instructions Your video should be delivered through the Canvas. To do so, Copy-and-paste the YouTube link of your video in the Canvas in the “Text Entry” section. If you need instruction to create a YouTube link of your video, see: https://support.google.com/youtube/answer/57407?hl=enLinks to an external site. Remember: Name the Youtube Video as your First name and Last name without space. Do not wait until the last minute to upload. Tip#3: While uploading the video in YouTube, mark it to be as “unlisted”, so it is not available publicly to the whole world. After the completion of the course, you can change that setting.
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