2021 Business Project - sdfsdfs PDF

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2021 Business Management (Unit 1) Task #05 – Project – Internal environment Number of marks: 50 Allowed time: 9 weeks

Student Names:

Marks: _____ / 50

Instructions Complete and submit task via SEQTA by 11:59pm on the 2 of June, 2021 A deduction of 20% is applicable if the task is submitted late. If the Project is submitted more than one week late, a zero mark will be given. Plagiarised work may constitute a zero mark or marks deducted, depending on the severity. td

Task details Assessment task Project Unit/area of study Unit 1: Planning a business Area of Study 3: ‘Internal Environment’ (CH 3) Outcome 3 Describe the internal business environment and analyse how factors from within it may affect business planning. Key knowledge This assessment task addresses the following key knowledge for this area of study:          

business resource needs and the factors affecting their choice: natural, labour and capital resources business locations and the factors affecting choice of location sources of finance available to establish a business and the factors affecting the choice costs and benefits of purchasing an existing business compared with establishing a new business types of legal business structures such as sole trader, partnership, private limited company, public listed company and the factors affecting choice of business structure types of business models such as online business, bricks and mortar business, social enterprise, franchise, importer and exporter business support services such as legal, financial, technological, community-based, formal and informal networks, and business mentors planning tools such as a SWOT analysis features and construction of business plans and the benefits of using them corporate social responsibility management issues regarding business planning.

Key skills The key skills that this assessment task addresses include the ability to:  define, describe, and apply relevant business management concepts and terms  acquire, record, interpret and share business information and ideas  research and analyse case studies and current examples of business management applicable to planning a business  apply business management knowledge to practical and/or simulated business situations  explain the benefits and costs of corporate social responsibility management practices with respect to business planning.  develop and construct business plans  use a planning tool to analyse a business’s current situation and interpret the information  discuss the decisions made in response to the internal factors that affect a business.

Task You are required to devise an innovative business idea and create a business plan containing the following sections. Executive summary Section 1: The business  Business name, logo and each partner’s name.  Describe two benefits of creating a business plan.

(4 marks)

Section 2: The business concept  What the business is going to do (i.e. the business’ purpose).  Describe the product to be provided by the business.  Include suitable images to illustrate the product.

(3 marks)

Section 3: The team (2 marks)  Management team: Give a business profile for each partner (i.e. what business skills, competencies, qualifications they bring to the business). Section 4: Mission statement (1 mark)  Briefly state the Mission Statement (i.e. the overall goal and direction of the business) (e.g. “Nifty Fashions aims to sell a wide range of high-quality professional female clothing at affordable prices. We employ well trained sales staff who not only offer expert fashion advice but are knowledgeable in leading fashion trends for the career woman”). Section 5: Slogan  Design a slogan for your business (e.g. Nike’s slogan is “Just do it”).

(1 mark)

Section 6: Corporate social responsibility (1 mark)  Describe one corporate social responsibility management issue relevant to the internal environment of your business. Marketing plan Section 7: Marketing strategy (3 marks)  Product range (i.e. products and price list).  Explain how you plan to promote your product.  Define your target market (i.e. the type of customers that you wish to buy your product or service).

Section 8: Location  State the location/address of the business.  Justify your choice of the location.  State the land-use zone the location is classified as.  List the website and email address of the business.

(4 marks)

Section 9: SWOT analysis (4 marks)  In table format, prepare a SWOT analysis for your business, covering at least two factors of each element. Operations plan Section 10: Resource requirements (6 marks) Describe your resource requirements:  Labour Resources such as the number and type of staff required, as well as the skills they will have.  Natural Resources detailing if your products environmentally friendly and how sustainability been factored into your planning for natural resources.  Capital Resources such as what kind of tools and machinery will be needed and how the business repair, maintain and replace its capital equipment when needed. Financial plan Section 11: Finance (6 marks)  Select one source of finance that you would use for your business and describe the main features of this source of finance.  Describe one advantage and one disadvantage of this source of finance.  Justify, using two factors, why this source of finance has been chosen. Other considerations Section 12: Legal structure (5 marks)  Identify and describe the most suitable business structure for your business.  Justify your choice of business structure.  Discuss one advantage and one disadvantage of this legal structure. Section 13: Business support services (2 marks)  Describe two business support services you will use to help your business. Section 14: Floor plan (3 marks)  Draw a floor plan for your business identifying the essential features of your business (e.g. if the business is a restaurant, show how the kitchen layout and seating arrangements would appear and so on). Section 15: Buying a business vs starting from scratch (4 marks)  In table format, identify one benefit and one cost of purchasing an existing business and one benefit and one cost of establishing a new business. Section 16: Business model  Describe the business model your business will use.

Total: 50 marks

(1 mark)

MARKING RUBRIC STUDENT NAME: _________________________________________________________ Required The Business

1.

2. The Business Concept

3.

The Team

4. 5. 6.

Mission Statement Slogan CSR

7.

Marketing Strategy

8.

Location

9.

SWOT analysis

10. Resource requirements

11. Finance

12. Legal structure

13. Business support services 14. Floor plan 15. Buying a business vs starting from scratch 16. Business models TOTAL

Teacher’s comments:

Criterion Marks - Cover page stating the business name, logo and each 2 2 partner’s name. - Describe two benefits of creating a business plan. - What the business is going to do (i.e. the business’ 1 1 purpose). - Describe the product to be provided by the business. 1 - Include suitable images to illustrate the product. - Management team: Give a business profile for each 2 partner. - Briefly state the mission statement. 1 - Design a slogan for your business. 1 - Describe one corporate social responsibility 1 management issue. 1 - Product range (i.e. products and price list). - Explain how you plan to promote your product. 1 1 - Define your target market. 1 - State the business contact details: the location/address of the business. 1 1 - Justify your choice of the location. - What land-use zone you would classify this location as? 1 - List the website and email address for the business. - In table format, prepare a SWOT analysis for your 4 business (min. of two of each element). 2 - Labour Resources: The number and type of staff required, as well as the skills they will have. 2 2 - Natural Resources: Environmentally friendly products? Sustainability considerations? - Capital Resources: Tools and machinery. How will the business repair, maintain and replace its capital equipment when needed? - Select one source of finance that you would use for 2 your business and describe the main features of this 2 source of finance. 2 - Describe one advantage and one disadvantage of this source of finance. - Justify, using two factors, why this source of finance has been chosen. - Identify and describe the most suitable business 1 2 structure for your business. - Justify your choice of business structure. 2 - Discuss one advantage and one disadvantage of this legal structure. - Describe two business support services. 2 - Draw a floor plan for your business identifying the essential features of your business. - In table format, identify the costs and benefits of purchasing an existing business compared with establishing a new business. - Describe one type of business model.

Mark

3 2 2 1 ___ / 50

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