You have been appointed as business analyst for a fairly new business and your first task is to analyse and review the key areas (e.g. HR, marketing, IT, products and services, financial, etc.) of the business and make recommendations (supported by appropriate theoretical framework) on how these could be changed or improved through implementing certain entrepreneurial and innovation strategies. To do this, you are to consider the drivers of change in the industry in which the business operates, how the business is responding to the changes and the challenges and opportunities of adopting the recommended entrepreneurial and innovation strategies for dealing and coping with the changes created by the economic environment. You will be required to do a brief presentation of your findings and recommendations, followed by a written report
. In the report, you are to evaluate and critically review the key areas of the business (see above) and propose action plans or recommendations (supported by appropriate theoretical frame) that will help the business to exploit existing or identified entrepreneurial and innovation opportunities and how the business should respond to challenges of implementing the entrepreneurial and innovation strategies. The report should be structured as follows:
· Introduction – An analysis of the macro-economic environment and drivers of change within the industry in which the business operates and how these influences the discovery and exploitation of entrepreneurial opportunities. This should include the implications on entrepreneurship and innovation activities on the business you are studying. (L1)
· Evaluation and critical understanding of Entrepreneurship /Innovation –You should be able to demonstrate your knowledge and understanding of key issues surrounding entrepreneurship and innovation in the business you have chosen by evaluating its entrepreneurial activities and its management of those activities using relevant theories and concepts. This should include a critical assessment and evaluation of innovation / entrepreneurship within the business and the challenges faced by the management of the business. (L2,4)
 · Action plan/ recommendations– Based on your assessment and evaluation of the business and its environment, identify and formulate a series of actions/recommendations and effective responses that you believe will help the business maximise its entrepreneurial potential and innovation opportunities in the existing economic environment and how it can deal with any challenges. These should as much as possible be supported by relevant literature and theories. (L3)