Small Business Management-LSBM 305
Task Students are required to undertake comprehensive research on any UK business from a clearly defined sector, and provide a rationale for a business portfolio; drawing upon materials from the lectures and workshops over the semester.
1) Explain why your chosen business, may or may not, qualify as a small business Provide reason (s) for selecting the particular business Explain why/how a business is categorised as a small business in the UK *Examples of small businesses in this UK are provided through a link students can access on Syllabus.
2) Provide the general background of your chosen business and explain how it competes within its sector Name of business When was the business established? Where is it located? What products/services does the business offer (products range)? Which industry does the business operate in? Who are the owners of the business? How has the business been performing financially? SWOT analysis Competitive advantage/competition (Approx. 300 words) (10 marks)
3) Draft a detailed business portfolio on the company, based on a rigorous, comprehensive and detailed knowledge base of theory/literature - from at least three topics covered in class Reflect on three different lectures provided in the Small Business Management module. Three different topics from three different lectures should be selected (for example; marketing, finance, operation management). Apply each of these three topics into your selected small company and identify any gaps in any of the three areas (topics). Apply theories into practice (i.e. your selected business). The work should be as analytical as possible. (Approx. 2000 words) (60 marks)
4) Draw sound, reasoned conclusions, make recommendations and/or discuss the implications for the business within its sector. (Approx. 500 words) (20 marks) Recommendations should be provided based on the gaps identified in task 3 What are the benefits obtained from these recommendations? How will the company benefit from these recommendations? A sound conclusion that highlights the main points covered in the work.