Posted: April 17th, 2015
To research and convey your business idea in report form to convince your board of directors of your organization/ or potential investors.
Description and Assessment Criteria
Aim: To research and convey your business idea in report form to convince your board of directors of your organization/ or potential investors.
Task:
Once you have chosen a business idea you need to write an individual business plan. There is no set format for this but it typically should:
- A short format business plan, containing clear objectives, strategy, action programmes and financial projections (TWO YEARS’ Profit & Loss monthly, ditto CASH FLOW quarterly and a clearly worked out break-even calculation, plus a CAPITAL REQUIREMENTS PLAN showing main capital purchases and also clearly identifying sources of finance).
- Clearly describe the product/service and its unique selling proposition (USP)
- Justify its uniqueness through a preliminary data search and competitor analysis
- Determine market attractiveness e.g. market size and potential growth through identification of potential customers, market trends
- Determine business strategy with a clear route to commercialisation e.g. technical development, licensing of intellectual property, marketing and implementing
- Identify potential risks and how they will be managed
- Justify expenditure for running the event, equipment and running costs
- Describe key operational requirements e.g. premises, IT and management systems, quality requirements
- Demonstrate credibility of management team
- Demonstrate financial rewards and loan requirements for potential investors
You will be marked on the following criteria:
Component |
Marks awarded for: |
Maximum mark: |
Presentation: |
- Use of a clear report structure
- Accurate spelling and grammar written in business style
- Visual appealing presentation
|
10% |
Summary: |
- Clear, effective and succinct summary
|
10% |
Proposal: |
- Clarity and accuracy of proposal
- Feasibility of business proposition
- Effective primary and secondary research in support of proposal
|
30%
20%
30% |
Guidance on writing:
- Indicative word count: 2,500 words (does not include appendices)
- The style of the report short be ‘short and sharp’ and aimed at the business community rather than ‘essay’ style