Task 1: Apply your knowledge of the business model canvas to analyse two businesses. Please see page 2 for further information. Task 2: A short essay on “affordable loss” vs “sunk costs”. Please see page 3 for further information.

July 6, 2023July 6, 2023 Discipline: Entrepreneurship

        Task 1:

  1. Map a business model canvas (BMC) for these two companies

    • A template for the BMC is attached at the end of this document,

      including pointers to help you fill out the canvas

    • The BMC does not count towards the word count

  2. Describe the businesses using the BMC (not more than 500 words for each

    company)


    Task 2:

    According to Professor Saras D. Sarasvathy from Darden Business School, expert entrepreneurs use five effectuation principles when starting new ventures. One of these principles is ‘affordable loss’. The concept contradicts the economic concept of ‘sunk costs’.

    Research and write a short fully referenced article, introducing and contrasting the two concepts in the context of entrepreneurship.

    “where people justify increased investment, despite new evidence suggesting that the cost, beginning immediately, of continuing the decision outweighs the expected benefit.”

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