[SOLVED] ASSESSMENT TASK 3 GROUP APPLYING FAMILY BUSINESS THEORY TO REAL-WORLD CHALLENGES REPORT Pyth

ASSESSMENT TASK 3 (GROUP): APPLYING FAMILY BUSINESS THEORY TO REAL-WORLD CHALLENGES REPORT

Assessment Task:

Video production offers a powerful medium for students to demonstrate their understanding of complex concepts in family business. In this assignment, each group will select one family business theory and apply it to address a real or hypothetical problem within a family business setting. The group will produce a 3 to 5-minute video that explains the theory and illustrates how it guides decisionmaking and problem-solving in the chosen context.

In addition to the video, students are required to submit a written report that documents their analytical process, team reflections, and evaluation of outcomes. This project encourages collaborative learning, critical thinking, and the practical application of theory developing your problem-solving skills as defined in the learning outcome.

Each group is required to:

1. Select one theory from the list of approved Family Business Theories (see below).

2. Formulate a problem, challenge, or situation in a family business context that can be analyzed through the chosen theory.

3. Develop a 3 to 5-minute video explaining the chosen theory and demonstrating how it can be used to address the problem.

4. Submit a written report (1,500-2,000 words) reflecting on the process and evaluating the outcome.

It is designed to nurture your ability to reflect, analyze, and implement practical solutions to open-ended business issues commonly faced in family enterprises.

List of Family Business Theories

(Groups within the same tutorial session may not choose the same theory; selection is on a first-come-first-served basis.)

1. The Systems Theory

2. Agency Theory

3. Resource-Based View

4. Stewardship Theory

5. Socioemotional Wealth (SEW) Theory

6. The 12S Model

Assessment Components

Component           Description                                                                    Weightage

Part A                    Video (3 to 5 min)+Presentation (10 min)                       20%

Part B                    A Written Report (1,500-2,000 words) reflecting on the process and evaluating the outcome.      20%

Total                                                                                                              40%

Assessment Weightage: 40%

Total Word Count: 1,500-2,000 words (excluding title page, rubric, table of contents, references, appendices, and figures/tables)

Assessment Requirements

Part A: Video (3 to 5 min) + Presentation (10 min) (20%)

Each group is required to submit a 3 to 5-minute video and deliver a 10-minute live presentation explaining their analytical process, team reflections, and evaluation of outcomes. These sessions are designed to support your development in applying family business theories, frameworks, and problem-solving strategies.

Presentation Schedule

Weeks 12 and 13

Exact date and time will be assigned based on your tutorial group schedule. You are expected to share your video and deliver a 10minute live presentation on the day of presentation.

1. Video Requirements

Your group video must:

• Clearly introduce the selected family business theory.

• Present a real or hypothetical problem commonly faced by family businesses.

• Apply the chosen theory to analyze, interpret, or solve the identified problem.

• Reflect on the decision-making process, including ethical and cultural considerations.

• Use engaging visuals, clear narration, and relevant, practical examples.

The video should be edited for clarity and professionalism. Visual storytelling, diagrams, and animation are encouraged.