Assignment Instructions for Business Plan.
This document explains the details of your assessment, please read it carefully.
Qualification/Programme: Undergraduate Foundation Programme: Business Behaviours
Module Name: Module 2 – Setting up a business
Start Date: October 2015, January 2016 or March 2016
Deadline Date: March 2016 or June 2016, August 2016 (exact date to be confirmed by your tutor)
Module learning outcomes:
- Understand the purpose and key parts of a business plan
- Know how strengths, weaknesses, opportunities and threats impact a business
- Know how to assess sources of finance and be able to construct and interpret financial forecasts
- Know what makes an effective business plan
- Work in a team
- Use effective Harvard Style referencing
Assignment Title: Introduction to Business
This assignment requires that you demonstrate that you can:
- Understand business theory and concepts
- Able to apply theory and concepts to different types of businesses
- Able to analyse the implications for a business
- Able to offer an opinion or make a judgement
You will be marked against the following criteria: see marking scheme
For learners to demonstrate their business skills, problem-solving skills and creativity to launch a successful business.
This assignment counts for 40% of your overall grade for UFP Business Behaviours.
The pass mark for this assignment is 40%.
You will work in a team of 4. Team members must communicate in English and wherever possible, they should not share the same native language. For this assignment you need to submit one group business plan of 3000-4000 words, and give one group presentation (lasting 20 minutes) presenting your business idea. Use the following details to help structure your business plan.
- Give a detailed explanation of the goods or services your business plans to provide
- Include: product, prices, sizes, type of service and deals/ offers
- Logo, reasons for your business name and design
- Market size
- Statistics and encouraging factual research to justify your reasons for opening
- Market segment
- Name your main market segments and explain your reasons for choosing these market segment(s)
- Main competitors
- Strengths : product, price, place & promotion
- Weaknesses : product, price, place & promotion
- How will you differentiate your business from your competitors (provide a list of ideas)
- Introduction to your chosen types of research and reasons for your choices.
- Range of Secondary research – Analyse your results and apply to your business.
- Range of Primary research – Analyse your results and apply to your business.
- Which legal structure have you decided to choose? Explain your reasons why (justify)
- Where have you decided to locate your business and why (justify)
- Number of employees you plan to employ and a detailed description of the following for each employee:
- Job title
- Description of their daily responsibilities
- Contract arrangements
- Qualifications/ skills
- Wage or salary and amount they will be paid, reasons why
- Details of your chosen sources of finance (short and long-term)
- Give reasons for your choice over others (justify)
- List of start-up costs
- Fixed and variable costs
Budgets – produce the following:
- Sales budget
- Cost budget
- Production budget
- Profit budget
- Analyse each budget (one paragraph each). Explain to the reader what is important to notice.
Financial forecasts – produce the following:
- Break-even chart if relevant
- Cash flow forecast
- Analyse each chart (one paragraph each)
- Create an integrated marketing mix that will help sell your product or service. Explain your marketing strategy for each of the four components: product, price, place, and promotion.
- Complete a detailed SWOT of your business. Be specific and realistic. Give at least 3 points for each element of the SWOT and explain the impact of each point on your business.
- Research and additional information
- Your group presentation should last no longer than 20 minutes.
- You will need to provide a bibliography of at least 6 references in your report including 3 books or academic articles and 3 websites. You will need to use Harvard referencing.
- Your Business Plan needs to show:
- Proof that you have researched and analysed information. Critical thinking and evaluation.
- Business theory.
- Analysis of competitors and of your own business.
- A logical flow to your writing and a high quality of written English.
All coursework (unless direct otherwise by your tutor) must be word processed, 1.5 spaced, justified, fully referenced using the Harvard system, and in size 12 font, with page numbers and the word count. The word count does not include end of text references or appendices.
Using correct Harvard Style referencing is very important.
You are required to submit an electronic copy to a plagiarism checker using the website http://www.turnitinuk.com/en_gb/home
If you are unsure of what is expected of you please speak to your tutor.