An Individual or Group Essay - Written Business Plan (100%)
Date Due;Week 21 (Summer term)Monday 31st March 2024 by 1200 hrs.
2500-3000 words (plus or minus 10%)not including references,bibliography
This assignment is designed to increase your understanding of the entrepreneurial processes by researching,developing and effectively communicating a new business idea of your own choice,you will then present this idea in the form. of a written Business Plan(BP). All entrepreneurs need to be able to capture the essence of their business idea and be able to clearly articulate this to a variety of interested parties,for example potential investors.Your writen business plan needs to succinctly paint a picture that allows the reader to understand the concept of the business.Remember that if you pick a Café in Lancaster, or selling cakes on Campus your BP will need to be brilliant!If you select a business idea that is more complex, less certain, less understood there is room for manoeuvre. Ambition,endeavour and bravery are required for any business to be successful in today's business world,make sure this comes through in your BP.
This essay will require you to have thought through the business plan and its components in order for you to produce a pitch that brings your idea to life.Your first draft will likely be 4500 words or more, the skill in good writing is to condense the words and continue to condense them until you reach your word count without losing the goodness from your idea.
This is not an easy skill to learn,so do not leave this assignment to the last minute and expect to produce an outstanding elevator pitch with one draft.
Each week in the lectures and workshops we will provide you with the knowledge and tools to help you build your business start-up,and therefore your writen business plan. We will, as with so many elements of business'start with the end in mind'Stephen Covey.
Individual assignment with a maximum of 2500-3000 words excluding references.
Criteria
Presentation(10%)
With a short word count to present a business idea in full will require you to be creative with your presentation,it should be professional,concise and to the point.
Business Analysis (50%)
Demonstrate a clear understanding of the micro and macro environmental factors bearing down on your business plan.This should include the principles aspects you consider key to your future organisation,organisational structure,culture,management,sales,finance,operations and the geographical coverage you intend to cover.You wil take into account risk factors,you may risk rate these factors in priority. You may consider being innovative,or you may pick a good safe bet that you know works and generates cash.You will also include a section for the future business'what it will look like in three years'time.
Identification and Application of UN SDG's.15%
Demonstrate a clear understanding of the SDGs that this start up will impact upon in terms of their positive and negative effects.Clearly articulate how you will mitigate negative effects and how you have built positive effects into your planning.Explicitly state how you will measure and monitor these in your plan (SDG KPls)
Probability of Success (25%)
Demonstration that your business will work in practice,if it does not work in practice there is no point in doing it!You will need to demonstrate realism in the planning,application,projections,finance and cash considerations throughout your business plan.Failure to submit any of these documents will incur in late penalties per day/hour,be considered as a non-submission and can be awarded a mark of 0 (zero).