Assessment 1 – general marking feedback
Hi everyone, this document points out the key themes that were identified when we marked the assessment 1 reports. This is an overview of the items that are the biggest opportunity for improvement for a large group of students who were challenged by assessment 1. Not every point in this document applies to all of you. You need to consult your own personalised feedback to identify where you have an opportunity to improve. Nevertheless, please do read this document as this is part of the general feedback and you can also learn more.
Important: If you have questions or concerns about the assessment 1 marking, your first point of contact is your local lecturer. Go to class and discuss your result and marking feedback with the local lecturer. It is very important that you are clear about a) what part of the marking feedback or b) item in the marking rubric you have academic concerns about when communicating with your local lecturer.
There are three main issues to address
1. Many students did not address all the assessment 1 task and assessment 1 marking criteria. These were introduced in the unit profile with the details provided in the assessment submission link. This crucial information is your best friend to pass the unit and must be followed. Students who did not address marking criteria 2, 3, 4 or 5 have to make sure you understand what these criteria are and check what they are appropriately addressed for assessment 2. In the approaching assessment 2 submissions, it is vital that you address all the assessment criteria convincingly to pass the unit.
2. Many students focused too much on general descriptions of the business and its situation and did not focus sufficiently on the description and argumentation for the novel value proposition (new or never seen before product or service). Because assessment 2 builds upon your assessment 1 novel value proposition, you have an opportunity to reflect on your marking feedback on your initial novel (never seen before) value proposition and make appropriate adjustments. These value proposition adjustments must be made explicit in your assessment 2 submissions.
3. Many students did not convincingly select and apply the innovation tools as suggested in the workbook by Aulet (2017) and applied in the class workshops to support your report argumentation. This demonstrates a lack of engagement beyond the superficial in the class workshops and with the online unit materials. To pass this unit you need to get to class and engage with the unit materials provided online. The unit profile requires you to study this unit 12.5 hours per week.
Solution
Business Value Proposition
Introduction
Value proposition brings out the kind of value that an entity creates for its clientele. Establishing a unique value proposition involves new ways of market segmentation. Frequently, the main aim of a novel value proposition will be to expand a company’s market share. For instance, until the iPad was introduced into the market, customers were ignorant of the fact that they wanted tablets – Apple was able to create new demand for its products. The value chain focuses internally on a firm’s operations. On the contrary, value proposition comes in the form of a strategic element looking outwards at clients in the context of the demand side of the business. Strategic plans are mainly integrative, bringing the supply and demand sides together. In developing the novel value proposition for Uber, it vital to consider its customer base, the needs that it meets, and relative prices that will generate considerable value for its clientele as well as sustainable profitability for the firm………………………………………To access the rest of the solution for $10, please click on the purchase button.
