Aim of Unit 11 Research Project
Knowledge about entrepreneurship is essential in order to understand the barriers that might occur in a start-up business. National and economic culture influences entrepreneurship in various ways. This would help the students to acquire knowledge about the characteristics of entrepreneurs as well as the influence of situational factors including background and education. Moreover, small firms and social enterprises play an important role in the economic development of a society. Thus, the students would be able to understand the risk factors for starting a new venture. They would further be able to reflect and investigate on their own the characteristics of enterprises and entrepreneurs.
LO1 Examine appropriate research methodologies and approaches as part of the research process
Entrepreneurship is the act of taking up financial risks during the establishment of new ventures with a hope of earning a profit. An intra-preneur is a person that fosters innovation within the limits of the organization whereas an entrepreneur is a person who initiates a business with the aim of earning a profit. Moreover, owner-managers are the one who runs the business within the limited availability of resources. Different sized organizations possess different characteristics and roles as per the typology. Moreover, social enterprises are responsible for the growth of the social economy.
LO2 Conduct and analyze research relevant for a business research project
Entrepreneurs incorporate innovative ideas in order to come up with entrepreneurial ideas that would help in earning profit for the organization. The organizations need to protect these creative ideas by complying with intellectual property rights. Moreover, small firms play an essential role by contributing to the economy at the national, regional as well as local level by enhancing the employment opportunities for the young generation. There are certain international aspects that influence start-up businesses.
LO3 Communicate the outcomes of a research project to identified stakeholders
Different entrepreneurs possess a different set of thinking that basically depends on their background. In addition to this, the entrepreneurs possess certain typical skills that make them different from that of managers of an organization. The entrepreneurial tendency depends on situational factors and entrepreneurial characteristics that include lifestyle, family upbringing, personal motivation and cultural differences.
LO4 Reflect on the application of research methodologies and concepts
There are several factors that influence the decision making the process for entrepreneurs regarding starting a new business. These factors include national culture, education, character traits and economic circumstances. Starting a new business could come up with several risks. Further, it is essential for an entrepreneur to acquire knowledge about the risks that they might face after the establishment of a new business. This would thereby help the entrepreneurs to plan for strategies in order to mitigate the probable risks.
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Learning outcomes and assessment criteria
|LO1 Examine appropriate research methodologies and approaches as part of the research process|
|P1 Produce a research proposal that clearly defines a research question or hypothesis supported by a literature review. P2 Examine appropriate research methods and approaches to primary and secondary research.||M1 Evaluate different research approaches and methodology and make justifications for the choice of methods selected based on philosophical/theoretical frameworks.||LO1 & 2 D1 Critically evaluate research methodologies and processes in application to a business research project to justify chosen research methods and analysis.|
|LO2 Conduct and analyse research relevant for a business research project|
|P3 Conduct primary and secondary research using appropriate methods for a business research project that consider costs, access and ethical issues.||M2 Discuss merits, limitations and pitfalls of approaches to data collection and analysis.|
|P4 Apply appropriate analytical tools, analyse research findings and data.|
|LO3 Communicate the outcomes of a research project|
|to identified stakeholders|
|P5 Communicate research||M3 Coherently and||D2 Communicate critical|
|outcomes in an||logically communicate||analysis of the outcomes|
|appropriate manner for||outcomes to the intended||and make valid, justified|
|the intended audience.||audience demonstrating||recommendations.|
|how outcomes meet set|
|LO4 Reflect on the application of research methodologies and concepts|
|P6 Reflect on the effectiveness of research methods applied for meeting objectives of the business research project. P7 Consider alternative research methodologies and lessons learnt in view of the outcomes.||M4 Provide critical reflection and insight that results in recommended actions for improvements and future research considerations.||D3 Demonstrate reflection and engagement in the resource process leading to recommended actions for future improvement.|
This unit links to the following related units:
Unit 6: Managing a Successful Business Project
Unit 16: Operations and Project Management