Entrepreneurial Opportunity Analysis

MAN3083 Individual Assignment 1 Brief
Title: Entrepreneurial Opportunity Analysis
Type: Video presentation
Length: Maximum 5 slides/6 minutes
Submission deadline: Wednesday 15
th March 2023 via Surrey Learn by 4pm.
Weighting: 30%
1. Assignment Overview
Throughout the Module we have been discussing the role of opportunity identification,
innovation and entrepreneurial thinking in a new venture creation, where in your teams you
had to brainstorm business ideas, and pick one to develop it further into a viable business
plan. While there are various approaches to business opportunities, its further analysis and
evaluation is a crucial step before bringing it to life.
The purpose of this assignment is to outline your individual thinking and research into a
business opportunity, and evaluate its viability through the application of theoretical concepts
and tools.
2. Learning Outcomes
After completion of this assignment, you should be able to:
• Develop an awareness and enthusiasm for new business venture creation (LO1)
• Critically assess and evaluate entrepreneurship theories/tools/models to new business
venture creation (LO2)
• Reflect critically on your learning (LO5)
3. Assessment brief
In this assessment, you will need to submit a video presentation in which you are expected to
identify an entrepreneurial opportunity and consider how this will be exploited in the market
(Problem-Solution Fit) through the application of relevant theoretical concepts and perspectives.
What you need to do:
1) Select and describe an entrepreneurial opportunity (ideally it should be the one you
are working on as a team, so that later you can consolidate your individual work for the
group Assignment 2, however, you can pick any other opportunity that you are personally
interested in).
2) Evaluate the selected opportunity using Problem-Solution-Fit framework (please,
refer to the Template provided below)
3) Reflect on the nature of the identified opportunity in terms of its origin,
entrepreneurialism, and innovativeness through the application of the relevant
theories (please, refer to Weeks 1-3 of the Module Curriculum).
4) Outline and discuss the critical steps of further idea development in line with the
adopted entrepreneurial strategy (please, refer to Week 4 of the Module Curriculum).
Guidance and Notes (please, read carefully)
1. Select and describe an entrepreneurial opportunity (approx.1 min)
Keep this part brief and to the point. Clearly articulate the problem that you are trying to solve,
who is experiencing this problem, and your solution that addresses this problem. Try to be
specific about location/platform, particular context, the value that you are creating, and for whom
this value is created. There is no need to provide a detailed overview of your solution, but you
need to explain how it works. To support the existence/viability of this opportunity, please, draw
on the evidence from your secondary research (e.g. from industry reports; government/policy
reports/documents; data platforms; publicly available social media forums; academic articles).
If you are not part of the group, or disagree on the choice of the entrepreneurial opportunity, you
can identify your own one. However, bear in mind that this assignment will contribute to the
Assignment 2, therefore, you might end up doing extra work, unless you proceed individually.
2. Evaluate the selected opportunity using Problem-Solution-Fit Framework (approx.
2 min)
You are expected to present the filled in Problem-Solution-Fit template (please, see below) for
the entrepreneurial opportunity that you identified. Please, remember that it is important to use
evidence to support your analysis (secondary data and/or theory), especially where you are
trying to establish the existence of the problem/pains, their root causes, the profile of potential
customers, and other available solutions to the same problem. In the narrative of your
presentation, you do not need to comment on every single ‘block’ of the template, but could
present the main logic, and highlight the key evidence/arguments to support the viability of the
selected opportunity.
3. Reflect on the nature of the identified opportunity in terms of its origin,
entrepreneurialism, and innovativeness through the application of the relevant
theories (approx. 2 min)
In this part you need to demonstrate your understanding of the relevant theories and apply them
to practice. In particular, you need to reflect on where the selected entrepreneurial opportunity
came from, what makes it ‘entrepreneurial’, and whether there is any manifestation of innovation
(and in which form). The justification and reference to the relevant theories and concepts are
crucial here, where the core Curriculum and additional resources from Weeks 1-3 are expected
to be used.
4. Outline and discuss the critical steps of further idea development in line with the
adopted entrepreneurial strategy (approx. 1 min)
First, you need to identify, articulate and justify a suitable entrepreneurial strategy/approach to
develop the identified entrepreneurial opportunity. You can adopt one of the approaches
(methodologies) covered in Week 4, or anything else, based on your own research. Second, in
line with the selected approach (methodology) outline the key steps for your opportunity
development. You do not need to provide a high level of detail, but your understanding of the
approach and its application are crucial here. Where relevant, you can also discuss any
contingencies/assumptions/caveats around the application of the selected approach and its ‘fit’
with the selected opportunity and market environment.
Please note, that the estimated length suggested above in brackets for each section is
indicative to help you structure your work, only the overall length will be considered by
the markers.
Notes
• Identify and use suitable evidence: theoretical literature (academic articles) where
applicable and relevant to the argument being made, and secondary data – to support
decisions/arguments around the entrepreneurial opportunity/problem/solution;
• Remember, each argument/statement requires evidence, logical justification, or both, and
should not be based just on your personal opinion. Therefore, there is no indicative
number of sources that you should use, as it will be defined by your content;
• Make sure the evidence that you provide is relevant and specific to the argument that you
are making;
• You can use tables and charts to help you summarise your evidence from the secondary
research, articulate your arguments, show connections and relationships, present your
solution, etc. However, make sure that you explain the key points/logic in your narrative,
so that everything is clear;
• You can narrate the presentation in the first person but using academic language;
• The use of AI narration is not permitted (please, record in your own voice);
• Reference all academic literature, data, and other information that you use to support your
arguments in accordance with Harvard Referencing Style. Information on referencing you
can find here.
Problem-Solution-Fit Template
Organisation Name:
Sources of information (please, provide URLs to the websites used):
1. Customers/Beneficiaries 6. Customers/Beneficiaries
Limitations
5. Available Solutions
2. Problems/Pains 9. Problem root/cause 7. Behaviour
3. Triggers to act 10. Solution offered 8. Channels of behaviour
4. Emotions
4. Other Useful Information
1) Assessment length policy
The assessment length policy is the maximum of 5 slides/6minutes followed by a 10-point
penalty. The penalty will be applied by the module leader and addressed in the individual
student feedback.
The slide deck of maximum 5 slides exclude the title slide and the slide with the References.
2) Format
Work should be submitted in the requested format and the quality of the presentation is
important. Please, prepare a Power Point slide deck, and narrate it using Panopto
software (available via Surrey Learn). The detailed guidance on how it can be used can
be found here. For your Slide deck, please, consider the following:
• Arial font, size not less than 18 points;
• Problem-Solution-Fit Template can be included as a screenshot, unless it is not
readable, then consider breaking the content down into two slides;
• Page numbered;
• Within the length allowance;
• Include a title slide with your name, student number, the title of the work (not
included in the slide count);
• Include a slide with a full reference list, formatted in line with Harvard Referencing
Style (not included in the slide count).
3) Late Submissions/Extenuating Circumstances
• For late submission guidance and penalties, please, refer to the University
Regulations (item 120 on p.21).
• For guidance on extenuating circumstances, please, refer to the following document.
4) Study Support
You might find the following resources useful to help you with writing this assignment:
• Tips for Creating an Effective Video Presentation
• Creative and critical thinking
• Business Resources for Secondary Research
5. Assessment Criteria
General criteria Clarification Weight

Pre-submission (Formative Feedback)
In-class Sessions: Students are encouraged to attend both lectures and seminars, as there
will be ongoing feedback, peer discussions, and Q&A opportunities provided.
Assessment Rubric: Please note the link to the assessment rubric which will allow you to
benchmark your work in advance and critically evaluate your own work.
Post-submission Feedback.
Assessment Rubric: We strongly advise you to review the assessment rubric to clearly
understand which areas need improving, self-evaluate your work, and ask specific questions
during your seminars to receive meaningful feedback.
One to one Sessions: The teaching team will mark your submission in accordance with the
guidelines given. In case you have questions about marks awarded or want feedback,
please email the module convener Dr Ekaterina Murzacheva: e.murzacheva@surrey.ac.uk
====
Sample Answer Guide
Title: Entrepreneurial Opportunity Analysis – E-bike Sharing in London

Introduction (approx. 1 min)
In this video presentation, I will be discussing an entrepreneurial opportunity that involves the implementation of e-bike sharing in London. The problem that we are trying to solve is the issue of traffic congestion and air pollution in the city, which is caused by the increasing number of cars on the road. Our proposed solution is to provide a cost-effective and eco-friendly transportation alternative to Londoners that will also help reduce traffic congestion and air pollution.

Problem-Solution Fit Framework (approx. 2 min)
To evaluate the viability of this opportunity, I will be presenting the Problem-Solution Fit Framework:

Problem:

Traffic congestion and air pollution in London caused by the increasing number of cars on the road
High transportation costs for Londoners
Limited availability of eco-friendly transportation options
Root Causes:

Lack of sufficient public transportation options
High cost of car ownership and maintenance
Inefficient transportation infrastructure
Inadequate incentives for the use of eco-friendly transportation options
Customer Profile:

Young urban professionals and students who are eco-conscious and tech-savvy
Tourists who are looking for a cost-effective and convenient way to explore the city
Commuters who want a faster and cheaper alternative to public transportation
Solution:

E-bike sharing service that is affordable, convenient, and eco-friendly
Smart bike technology that allows users to locate, unlock, and rent bikes through a mobile app
Partnership with local businesses and tourist attractions to increase accessibility and visibility
Evidence:

Secondary research from industry reports and government/policy documents
The success of similar e-bike sharing services in other cities, such as Paris and Berlin
Nature of the Opportunity (approx. 2 min)
In terms of its origin, this opportunity is a result of the growing need for eco-friendly and cost-effective transportation options in London. It is also a manifestation of innovation, as the use of smart bike technology and partnerships with local businesses are new and innovative ways to provide bike-sharing services.

Furthermore, this opportunity aligns with the theories and concepts discussed in the Module Curriculum, such as the effectuation theory and the lean startup approach. The effectuation theory emphasizes the importance of taking action and leveraging available resources to create new opportunities, which is evident in our proposed approach of partnering with local businesses. The lean startup approach emphasizes the importance of testing and validating business ideas before fully committing to them, which is a crucial step that we plan to undertake in the further development of this opportunity.

Critical Steps of Further Idea Development (approx. 1 min)
To further develop this opportunity, we plan to adopt the lean startup approach, which involves the following steps:

Conduct customer discovery to validate the customer profile and understand their needs and preferences.
Develop a minimum viable product (MVP) that will allow us to test and validate the solution.
Conduct user testing to gather feedback and make necessary improvements to the MVP.
Launch a pilot program to test the solution on a larger scale and gather more data.
Analyze the data and make necessary adjustments to the solution based on the feedback and performance.
Conclusion
In conclusion, the e-bike sharing service in London is a promising entrepreneurial opportunity that addresses the problem of traffic congestion and air pollution in the city. By applying the Problem-Solution Fit Framework and relevant theories and concepts, we have evaluated the viability of this opportunity and outlined the critical steps for further idea development.
to arrange a meeting.
Generic Feedback: A document (or a recorded video/podcast) will be provided to all
students giving general feedback on what went well and what did not go well (with areas for
improvements).
Good luck!

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