MGM3115 Assessment 2 Description

Assessment 2 The Entrepreneur Mindset and The Unique Ability to Create a
Start-up Business into A Unicorn

Assessment 2: Written Report _ The Entrepreneur Mindset and The Unique Ability to Create a
Start-up Business into A Unicorn
Impact Report Type: Outcomes assessed 1, 2, 3 & 4
Due Date: Week 6 (Due 8th January 2023, Sunday by 23:55 PM)
Weight: 40%
Length: Report should be 2,500 words (+/- 10%)
Submission: Report - Turnitin
Assignment description:
Australia is known for its diversified and technologically advanced economy. Australia continues to
encourage the development of several local start-ups nationally with an international launch. The
last five years have proved to be productive, as the funding rounds have almost reached twice as
high.
The estimated capital growth since July 2022 is $5 billion in brand new funds raised by Australian
Venture Capitalists. With more progressive research, it will be inaccurate to say that all start-ups are
equally famed. The lack of proper marketing and focus more on small business niches can be a
problem.
While proper business planning and execution can give a good stretch in the international business
arena. With their innovative approach, the start-ups have gained global market reach taking pride in
their “Unicorn” status which is worth more than a billion US dollars.
Your task is to select one of these successful start-up businesses in Australia.
https://startupstips.com/startups-in-australia/#Top_12_Startups_in_Australia
• Top 12 Start-ups in Australia 2022

o Payright
o Valiant Finance
o Data Republic
o Health Engine
o Employment Hero
o ZAI (Former Assembly Payments)
o Power Ledger
o Lendi: Fintech Startups in Australia
o Judo Bank
o Morse Micro
o Outfit
o Flare HR
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o Tech Startups Magazine: Stay updated
You may make use of any of the strategic management tools that had been covered during this
semester. For example:
• Refer to the ‘Writing a Case Study Report’ and address as many of the points stated in the
article. To be successful in analysing the topics related to the topic, you need to
demonstrate academic curiosity and critical analytical skills by reading extensively and make
references to at least 5 related articles.
• You may apply any of the strategic management tools (SWOT, PASTEL, Porter’s 5 Forces, etc)
that were covered in this semester.
• Where applicable, explore and explain the role of Digital Transformation and other
Technology in the plans.
• Where relevant, use the Business Model Canvas, by addressing the 9 components, to plan
your business.
• Where applicable, make references to elements of the Company’s Business Plan.
Outline of the assessment task - Approach and Requirement:
Warning and advice:

There are many sources of information available on the internet. You need to avoid plagiarising
other people’s materials – do not exceed the cut-off limit of a 20% similar score. If you do not
understand the requirements of the assessment task, please ask the lecturer for clarification. If you
need help with paraphrasing, please seek help at student services. If you have issues with time
management, the best approach is to have a notebook and list down the due dates of all Assessment
task and start working on the tasks from the first day by adding snippets of content into the outline
of your report.
The approach to this task is as follows:
Step 1: Select any of the 12 companies on the list.
Step 2: Identify the founder(s) of the business. Write a brief background of the founders. Analyse
the entrepreneur mindset of the founder(s) and comment on the characteristics that has been the
most consequential factor for the entrepreneur’s success.
Step 3: Construct the Business Model Canvas (BMC) and critically comment each of the 9
components in the planning process.
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Step 4: Identify the challenges faced in the early stages of the business and comment on any
relevant strategic management tools that were implemented to address these challenges. (Note:
Analyse, identify and comment on the key success factors).
Step 5: To be successful with your report, you need to research extensively about the business that
you have selected.
1. Introduction
a. Identify and explain the innovative element(s) of the start-up business.
b. Formulate and include a thesis statement, summarizing the outcome of your research and
analysis of the company. (Estimate 2 - 4 hours)
2. Descriptive background of the founder(s) with emphasis on their entrepreneurial mindset.

Identify and describe which of their character(s) that significantly contributed to their positive
role in building the business.
(Estimate 3 - 4 hours)
3. Evaluation of your proposed business

a. Apply the 9 components of the Business Model Canvass.
b. State why these parts of the BMC are significant to the development of the business.
4. Identification of challenges and the implementation of strategic management tools

a. Analysis and accurate identification of challenges in the early phase.
b. Briefly explain why the strategic management tool was chosen.
c. Support this solution with solid evidence, such as:
i. From your research, it was implemented by the company
ii. Explain whether the application had any obstacles during its initial application (i.e., how
did the company manage the obstacles?)
iii. Outside research
iv. Personal experience (anecdotes)
5. As a conclusion, describe what did you learn by your research and writing your report about the
business
a. Planning
b. Mindset as an entrepreneur
c. Key success factors.
Criteria used to grade the report:
1. Introduction: You have identified and explained the innovative elements of the start-up
business in detail and comprehensively. Your formulation and thesis statement are
excellent. (6 marks)
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2. Background of the founder(s): Excellent description of the founder(s) entrepreneurial
mindset and explanation of their character traits that contributed to the company’s success.
(6 marks)
3. Evaluation of the proposed business: Your evaluation of the 9 components of the BMC
demonstrates an excellent understanding of the micro elements that are significant to
development of the business. (10 marks)
4. Analysis of challenges and the implementation of strategic management tools: You have
demonstrated an excellent understanding of the challenges and your application of the
strategic management tools and other material reflect an excellent understanding. (10
marks)
5. Personal reflection of what you learnt: You demonstrated excellent academic critical
thinking and curiosity with your recommendation of further actions that can be undertaken
to improve your entrepreneurial skill set. (4 marks)
6. Evidence of Appropriate Research: Outside sources are incorporated logically, insightfully,

and elegantly. APA referencing used throughout is consistent and accurate and
demonstrated ability to reference a range of both primary and secondary sources both in-
text and using a reference list of at least 5 relevant references. (4 marks)
Submission Instructions
You must submit the report via Turnitin by Week 6 (Due 8th January 2023, Sunday by 23:55 PM).
Late submissions without prior written approval may incur applicable late deductions.
Feedback and marks will be provided via LMS within two weeks of the due date.
Estimated Student Workload: 12 - 18 hours
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Assessment 2 The Entrepreneur Mindset and The Unique Ability to Create a

Start-up Business into A Unicorn

Impact Report Type: Outcomes assessed 1, 2, 3 & 4

Length: Report should be 2,500 words (+/- 10%)

Submission: Report - Turnitin

Your task is to select one of these successful start-up businesses in Australia.

• Top 12 Start-ups in Australia 2022

Outline of the assessment task - Approach and Requirement:

Warning and advice:

The approach to this task is as follows:

Step 1: Select any of the 12 companies on the list.

2. Descriptive background of the founder(s) with emphasis on their entrepreneurial mindset.

3. Evaluation of your proposed business

4. Identification of challenges and the implementation of strategic management tools

Criteria used to grade the report:

6. Evidence of Appropriate Research: Outside sources are incorporated logically, insightfully,

Estimated Student Workload: 12 - 18 hours

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