2016 STUDENT BUSINESS PLAN COMPETITION
ABSTRACT Judging Criteria
Deadline: Midnight 2/26/2016
The first round of the BUSINESS PLAN COMPETITION involves submitting an abstract
summarizing your venture idea.
SUBMIT YOUR ABSTRACT TO:
https://www.cwu.edu/business/cwu-student-business-plan-competition
The judging criteria will be a 1-5 point scale in the areas of: innovation, value creation,
feasibility, value capture, and written composition (25 points maximum). A definition of each
of these terms is provided in the written business plan judging criteria.
ABSTRACT Judging Criteria & Guidelines
Guidelines:
Length: 1000 words/two pages - Whichever is less.
Structure: Summarize your venture idea with enough clarity to provide a reader who is
educated but may be technically unfamiliar with your field to evaluate it on the first four judging
criteria.
Five criteria are used for judging business plans. They are: Innovation, Value Creation,
Feasibility, Value Capture, and Written Composition. For each area, a scoring criterion of 0,
1-2, 3-4, or 5, will be used. A maximum of 25 points will be awarded to the written plan.
Descriptions for each criterion can be found below.
Criteria 1: Innovation
Innovation describes the originality or uniqueness of a business idea. Innovation exists along
two dimensions: new products/services or processes to existing markets, and existing
products/services or processes to new markets. There may be combinations of both. The
magnitude of innovation also exists in relation to the relevance of the idea in relation to the
process/product or service it is part of. It may be a certain component, a core component, or
the innovation may be a whole system.
Criteria 1 Scoring:
0:
No innovation exists. The idea lacks newness to the world, industry, region or local
area.
1-2
Minor innovation: The idea offers new components, but isn’t an original or unique idea.
3-4
Mid-level innovation: The idea is new to a firm in the industry or region. The innovation
doesn’t significantly change the processes, service or product offerings compared to
existing businesses in the industry.
5
The idea is highly innovative and original. Idea is unlike anything currently existing in the
industry, at regional to worldwide level.
Criteria 2: Value Creation
Value creation refers to the net impact the idea makes on society. Value creation will be
judged at the level of impact that the idea makes: context specific, local, regional industry and
universal. Value creation can be found in how well it resolves a problem and the magnitude of
importance of the problem or problems that it resolves and how much benefit it leaves for
customers, suppliers, community members and anyone else impacted by the activities of the
business idea.
Criteria 2 Scoring:
0:
No value creation exists: Idea does not create net value. Idea relies on lack of
information or bargaining power of one group of stakeholders to create value for others.
1-2
Minor value creation exists: The idea solves problems with modest success, or is
significantly successful at resolving the problem of modest importance. Problems that
are resolved by idea aren’t prevalent; offering won’t have a wide or enduring market, so
that potential for creating value is limited.
3-4
Mid-level value creation: The idea has significant potential for creating value. Idea
resolves significant problems that are widely shared with significant success.
5
High Value Creation: The idea resolves important problems with a successful solution.
The problems are shared at a universal level.
Criteria 3: Feasibility
Feasibility criterion checks the possibility of an idea being done, affected, or accomplished.
Feasibility will be judged at both the feasible degrees–easy, moderate, and hard, and feasible
areas: technical, economic, and social domain. The clearness of the idea is an important
aspect to consider. The articulation of the idea should be clear, and the tasks for implementing
the idea must be clear and specified.
Criteria 3 scoring:
0:
Unfeasible: The idea is unclear and cannot be carried out.
1-2:
Hard: The idea is too difficult to be successfully carried out and the tasks are not defined.
3-4:
Moderately feasible: the idea is moderately difficult to be successfully carried out, but the
tasks for carrying out the idea have been identified.
5:
Feasible: The idea can be carried out successfully and the tasks have been specified with
some clarity.
Criteria 4: Value Capture
Value capture checks the return of investment from the implementation of the idea. Value
capture is judged by the idea’s total costs, it profitability, the magnitude of assets involved and
the lifespan of the idea. When considering the time span of an idea, consider whether the idea
is a one-time opportunistic venture, a short time venture (1-2 years), or whether value will be
captured over a long time horizon (3-5 years).
Criteria 4 scoring:
0:
No value capture: assets involved in venture will not grow.
1-2
Minimal value capture: Proposal low likelihood of being able to capture value to sustain
assets. If successful, growth would be unlikely, or time horizon would be limited.
3-4
Moderate value capture: Idea has reasonable likelihood of increasing value of assets
and sustaining growth for long period of time. Costs are low compared to revenues and
assets used.
5
High value capture: Idea is able to maintain a reliable return on assets and activities for
a long period of time.
Criteria 5: Written Composition
Written composition checks how well written the abstract is, and the level of
competency/compliance, which the authors follow, with submission guidelines.
Criteria 5 Scoring:
0:
An abstract so poorly written as to not meet and minimum standards of grammar,
spelling, and the basic abstract requirement of two pages (1000 words) and discussing
the other four criteria.
1-2:
An abstract that is sub-par in standards of grammar and spelling, but meets the
guideline requirements; or meets minimum standards of grammar and spelling, but fails
to closely follow the guideline requirements.
3-4:
An abstract that meets the expected basic compositional requirements of a professional
written work, and closely follows all the required guidelines. No more than one small
typo, or formatting issue, per page is evident.
5:
An abstract that is exemplary in all areas, shows no observable deficits in grammar or
spelling, and follows all submission requirements.
CWU STUDENT BPC -SOURCE 2016 Judging Form:
EXAMPLE OF JUDGING FORM FOR YOUR REFERENCE– DO NOT FILL THIS OUT OR
SUBMIT
Student/Author
Name(s)_____________________________________________________________
Mentor’s Name
_______________________________________________________________________
Name of
Business____________________________________________________________________
Please score the criteria on the following scale:
(lowest) 1
2
3
4
5 (highest)
Criteria: As defined in the “Written Business Plan Judging & Scoring
Guidelines”
1. INNOVATION: refers to the originality and uniqueness of the business idea.
2. VALUE CREATION: refers to the net impact the idea makes on society.
3. FEASIBILITY: refers to the possibility of an idea being done, affected or
accomplished.
4. VALUE CAPTURE: refers to the return of investment from the implementation of
the idea.
5. WRITTEN COMPOSITION: refers to how well written the business plan is and
the level of competency/compliance with submission guidelines.
Please enter total:
Score: