Description Students have the autonomy to choose from the breadth of options covered in their reading, or to hybridize in keeping with the modern evolution of media businesses (see content creation and contemporary media distribution). Plans will include the following elements: Contextual knowledge of business, product/service, competition, differentiation, and brand Organizational model for business, including personnel, modes of distribution Means of revenue distribution Goals, Objectives, and KPIs to establish how you gauge success The project will balance application of knowledge acquired prior to spring break with applied research and planning from students during the final month. The plan will essentially be a white paper, meaning the students will be responsible for producing a well-written, researched, and organized paper. Rather than thinking in terms of length, students should account for the ability to effectively answer the 5 Ws and H the instructor will pose relevant to content covered in the course. Some plans will require 10 pages. Others might require 15-20. This depends on what students aspire to create. UNFORMATTED ATTACHMENT PREVIEW 3/29/24 Assessment Rubric for Personal Media Business Plan Intended Outcome: A plan for a personal media business that demonstrates an effective use of effective media management. Criteria Media Model Brand Organization Business Plan Revenue Research SMART Goals Evaluation Writing Total 100% Exemplary 75% Accomplished 50% Developing 25% Beginning Score Student Shows a strong grasp of classic media models as they apply to the area of focus they want to work with. Each element is well articulated. Student demonstrates clear consistency among all dimensions of the brand items for their business. Business model is a natural expression of the brand identity. Plan shows a solid, basic knowledge of components of media management. Some elements could benefit from clarity and specific examples. Student incorporates all brand elements effectively, but some inconsistency is apparent. Business model incorporates much of the brand identity in structure and action. Plan has notable gaps in understanding of media plan elements. Errors of fact and/or omission are present. Plan not couched in research. Brand identity is inconsistent in execution. Components may misalign with brand in the media business plan. Errors in interpretation of brand may be apparent. Plan is consistently inaccurate and fails to reflect common media models. No clear use of research. /10 /10 Organization clearly accounts for all known operational components in the value chain, and relevant contemporary media plan models. Plan shows a clear understanding of how revenue is generated, based on relevant data about modern media economics. Minor consistencies in components of the value chain and contemporary media plan are apparent. Some considerable gaps in the value chain and media plan components are present, illustrating a lack of research and knowledge. Clear gaps in understanding revenue generation, demonstrating larger gaps in research or interpretation of modern media economics. Student demonstrates clear inconsistency in interpretation of brand elements. Components of brand may be unclear or absent in articulation. Relationship with media plan may be unclear. Abundant, clear gaps in the value chain process and media plan, making ability to follow the logical arguments questionable. Abundant, clear gaps in understanding revenue generation and interpretation of media economics. Student’s competitor analysis, articulation of business model, and grasp of all elements is well-defined by their research and used to justify each decision related to the plan. No factual errors are present. Students effectively use the key steps in SMART goals process to set goals and objectives for assessment. Student makes strong use of relevant KPIs in setting up an evaluation plan for assessing business plan goals. Evaluation should have linear relationships with goals. Students provide a plan free from spelling, grammar, and usage errors. While there is no specific format required, students should make good use of headers, punctuation, and format to clearly present each component of their plan. Some gaps may be apparent in justifying course of action through research. Competitor analysis may be incomplete or lack key competition on the market. No factual errors present. Some minor misinterpretations on SMART goals are clear. Fairly consistent incomplete understand of the market and competition is apparent. Business model may lack key justifications due to limited research. Minor factual errors may be present. Considerable gaps in the SMART goals model in setting up plan assessment. Research is largely absent, undermining quality of the competitor analysis and plan. Major functional errors are present. /10 /10 Selection of KPIs may be limited and not reflect the best interpretation for evaluating effective smart goals. Linearity with goals may be unclear. Considerable struggles with KPIs and relationship to goals are apparent. Alignment between KPIs and goals may be unclear. SMART goals are hard to follow and show no alignment with the plan presented. Make performing evaluation difficult. Relationship between KPIs and goals is absent, and clear understanding of use of KPIs for evaluation is largely unclear. The plan contains some minor errors in writing that may create problems in understanding and interpreting the plan. The plan contains some consistent errors in writing that interfere with clarity of interpretation of the plan. Plan suffers considerably with errors in writing with unclear interpretation, poor spelling, grammar, and punctuation. /30 Minor gaps in understanding of revenue generation, demonstrating gaps in research or interpretation of modern media economics. /10 /10 /10 /100 X3 Pts. Purchase answer to see full attachment User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
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