Assignment Problem:
Write based on the "business idea" the topic - UK style reschool education services to the young family child in China. This education including arts, sports and academic studies. 2500 words and at least 10-15 references are required.
Assignment Overview:
Organisations in creative industries - which range from design, art, fashion and publishing to music, entertainment, advertising and gaming - are distinctive due to the central role of creative intellectual properties in their business models. Leaders in creative industries today are challenging the way in which the industries traditionally function. They exhibit new approaches based on entrepreneurship skills. Hence, individuals with creative talent require entrepreneurship skills in order be a leader in creative industries. But given the financial challenges faced by the arts and creative industries today, creative types do not have time and money to waste on a risky business startup. During this module you will have the opportunity to develop essential entrepreneurship skills as you design a startup business model based on the evidence-based principles of Lean Startup. These principles will help you to start a customer-funded business 'on a shoestring' by minimizing costs and mistakes through validation of what customers are willing to pay for before you invest in launching.
Assignment Outcomes:
To develop entrepreneurship skills that can help leaders to bring creative ideas to fruition with sustainable business models, and to lead and contribute to creative outputs in creative industries.
To develop your own lean startup plan in order to financially support a creative endeavor.
To understand and leverage the factors that drive new ideas to become (or fail to become) adopted by customers.
Undertake customer development and extract actionable insights from it.
Use hypotheses to overcome assumptions and biases.
Use Lean Startup techniques to achieve validation for a startup idea, especially around problem-solution fit.
Understand the principles of entrepreneurship and tools available for implementing the principles.
Complete a validated Lean Canvas business model.
Modes of Delivery: Working on a creative idea of your own, you will have the opportunity to articulate a design for a creative intellectual property, and the value proposition. You will design a "minimum viable product" and iteratively conduct interviews with potential customers in the field to evaluate and optimise the potential of your creative design. You will apply leading edge tools hands-on that help modern entrepreneurs to bring creative solutions to fruition through sustainable creative organisations. Throughout the module and independent learning, you will demonstrate your knowledge of your design, potential customers, your business model, and the course concepts such as lean startup, customer development and business model canvas. You will be encouraged to challenge the existing status quo, be experimental and show critical thinking.
Topics Covered:
1) Creativity
2) Monetizing Intellectual Property
3) Lean Canvas and the Customer
4) Problem
5) Solution
6) Value Proposition
7) Validation Board
8) Advantage and Complementary Assets
9) Channels
10) Key Metrics
11) Revenue Streams
12) Cost Structure
13) Marketing your Venture
14) Responsible Management
15) Starting the Business
Assignment Readings: The primary textbook for this module is: Ries, Eric. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Crown Business, 2011.
You may also find the following text valuable for the Validation process in particular: Blank, Steven G. The Four Steps to the Epiphany: Successful Strategies for Products That Win. California: S.G. Blank, 2007.
Assignment Guideline:
Consistent with UCL's policy on collaborative and inclusive learning, you will be assigned to a peer group with a group discussion forum on Moodle. Your group coursework consists of making two posts on your peer group Moodle forum as assigned (approximately weekly). For each week Posts are assigned, you are expected to make the following two posts before the deadline(s) given by the TA. Note that the post topics mirror the sections of your individual final report, so by doing a good job on the posts, you will receive feedback from TA and module leader that will help you to polish your final report (startup business plan).
Instructions:
1) Post 1:
Instructions: Write a 1-2 paragraph response that logically explains how the assigned lecture topic (see instructions from TA) can be applied to your own startup, and what are the implications of that topic for your startup.
2) Post 2:
Instructions: Read the post of one other peer in your group that has not received feedback and write a brief (several sentences) constructive reply assessing the logic and writing quality of that peer's post.
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