Entrepreneurship

Page 1 of 6 The purpose of the Assignment is to give you an opportunity to apply relevant theories and concepts from the entrepreneurship course to a business venture. You must support your discussion with relevant findings in literature. That is, your opinions and st atements need to be substantiated with readings from literature, models, textbook, and other forms of academic literature reviewed. Care should be taken to link your selected topics together . The final assessment will be in THREE (3) parts:  Part 1: A pai r research project to be submitted in report format, valued at 65% of assessment. The rubric is included .  Part 2: Individual meta -reflection to be submitted in the template provided, valued at 15% of the assessment. The templ ate and rubric are provided below.  Part 3: A description of the contribution each member made to the final project, valued at 20%. TOTAL MARKS = 100 Each student’s final grade will be the sum of the Part 1 ( pair component) and Parts 2 and 3 (individual components) Page 2 of 6 Part 1: The Group Assignment (65%) TWO CASE STUDIES ARE PROVIDED FOR THIS REPORT: Reeci’s Pieces AND Bridget Sandals . BOTH CASE STUDIES HAVE TO BE USED. Read the newspaper article below and w atch the TWO (2) video s with the link s provided in order answer ALL questions attached. Portmore native reaps success with sandals business Shamille Scott June 13, 2019 08:18 PM ET (Loop Business ) Designer Sharece Henry has been making a name for herself with her sandals brand Reeci‟s Pieces. Henry‟s first set of orders came from close friends, who took a liking to a pair of sandals she designed and wore back in 2014. Since then, the business has taken off, with Henry manufacturin g hundreds of sandals and amassing over 22,000 followers on Instagram, her primary marketing channel. Page 3 of 6 “I remember when I first started, I received over 100 orders and was surprised by the level of interest I received,” Henry said. Henry was all the more ex cited by the positive reception, as months prior, she was at her lowest – unable to cover her tuition needed to complete her Bachelor of Business Administration at the University of Technology in Kingston. “I was deregistered more than one time and it beca me very frustrating…..” Henry reflected. To help earn money to finance her studies, Henry began selling t -shirts under her Reeci‟s Pieces brand, a nickname she received while attending St Andrew High School for Girls. She eventually took a bold decision to quit university and focus on building her Reeci ‟s Pieces brand, which is best known for producing tailor -made, genuine leather sandals. A devout Christian, Henry‟s designs are named after books and characters of the Bible, including Genesis, Exodus, Ruth, Ezra and Romans to name a few. Henry hopes to eventually operate a large factory, enabling her to produce in volumes, while of course maintaining the quality customers have to come to know and love. Link to Reeci’s Pieces Interview Video: https://jamaica.loopnews.com/content/video -portmore -native -reaps -success -sandals – business The Original Compelling Story on Bridget Sandals : https://www.youtube.com/watch?v=QQPXcMMNb2U https://www.youtube.com/watch?v=OJmn1ieebns Page 4 of 6 You are required to use the information contained in the article above and the three (3) videos to help you to complete this assignment. From the information provided, answer ALL questions : 1. Compare and d escribe accurately how Bridget Brown and Sherice Henry arrived at the idea to start their respective business ventures 2. Please answer the following questions: a. Describe in detail, what is a business concept statement. b. Develop and prepare a simple business concept statement for Re ecie‟s Pieces . c. Develop and prepare a simple business concept statement for Bridget Sandals . 3. Please answer the following question: a. Describe any TWO (2) advantages and TWO (2) disadvantages of Sharece Henry using Instagram as the primary medium for promoting her Re ecie‟s Pieces business venture. b. Describe any TWO (2) challenges of entrepreneurship that owner Bridget Brown of Bridget Sandals had experienced while starting -up her business venture. 4. Evaluate and summarize the entrepreneurial journeys for the owner Bridget Brown or Sherece Henry with reference to ANY THREE (3) phases of the entrepreneurial process. 5. W rite a formal memo to BOTH of the brand s advising them of the THREE (3) potential industry opportunities and THREE (3) potential industry threats for Re ecie‟s Pieces and Bridget Sandals in the current Jamaican business environment and in the Middle Eastern business environment . 6. Since both companies offer similar products, develop and suggest THREE (3) strategies that could be use by one of the brand to gain the most market share. Page 5 of 6 Rubric (Pair Component) Question Maximum Score Lecturer’s Score 1 Comparison of business ideas 6 2 Concept Statements 11 3 Advantages/Disadvantages of each business at start -up 12 4 Evaluation of the Entrepren eurial Journeys 12 5 Memo to Both Companies 12 6 Market Strategies for One Brand 12 7 (Grammar/Spelling/ APA formatting/References ) Total 65 Page 6 of 6 Guidelines for the Written Paper are as follows :  All papers must be WELL WRITTEN. This includes proper grammar, correct spelling, correct usage of vocabulary and a style that is both interesting and intelligent.  Organization is extremely important. Your paper must have an introduction, several body paragraphs and a conclusion. The paper should flow smoothly from one paragraph to the next, with well written transition sentences.  Make sure you write in complete paragraphs. In other words, one or two sentences do not make a paragraph.  Proper documentation of your sources is imperative. If you do not document your materials properly, that is plagiarism . USE APA 7 style of referencing. Include a reference list at the end of the paper .  All papers should be written in a 12 -point Times New Roman standard font, 2” spacing with standard margins (1” all around).  Each paper must include a list of sources (at least 3 ), including at least one from the internet.  The paper should be no less than 10 pages in length (this is not inclusive of the following pages: Title, Table of Contents, Reference) Academic Integrity Academic honesty is expected of students. Unauthorized collaboration, falsification of research data, plagiarism, and undocumented use of materials from any source constitute academic dishonesty and may be grounds for a grade of „F‟ in this assignment and/ or disciplinary actions. END OF ASSESSMENT

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