Knowledge and Understanding Explain the different types of business structures and the benefits of each.

ASSIGNMENT 

Academic Year	2018-19
Semester	Semester 2
Module Title	Introduction to Business
Module Code	Module code: MOD003314
Level	3
Module Leader
Assessment	Business Plan
Assessment No.	010
First/Resit	Sem2-First
Weighting (%)	100 %
Word Limit	2000 words This excludes bibliography and other items listed in rule 6.71 of the Academic Regulations
Assessed Learning Outcomes	[1] Knowledge and Understanding Explain the different types of business structures and the benefits of each. [2] Knowledge and Understanding Define the role that human beings play in the business environment. [3] Knowledge and Understanding Understand the basics of marketing and promotion and discuss the production and distribution process. [4] Intellectual, practical, affective and transferrable skills Apply the 4Ps of marketing to any business situation.

ASSIGNMENT TASK QUESTION

• You are to write a Business Plan that applies general management ideas to a specific business.
• The plan should be min

You are drafting min Business Plan that outlines your new business venture.

Select ONEtype of business you will be starting from the following list (it is recommended that you choose one that is related to your intended course of study):

• Organise British Fashion week at the O2 arena, London
• An Ice cream bar in Kensington
• A training centre for the unemployed
• A legal agency business providing legal assistance to other businesses
• A financial investment businesses giving advice to other businesses
• An agency working with the Housing Association (public services) that provides homes for disadvantaged people

Business Plan TEMPLATE 

1. 1.     Outline your new Business Venture [5 marks]

• State the nature of the business and what product or service it provides
• State your USP and explain why your business would have a competitive edge.

1.1  Business Type [5 marks]

• Is your business a Partnership or a Company formation? Explain why you have chosen this business model

1.2  Research: [10marks]

• Research into the business service you have chosen; identify existing competitors.
• Illustrate using UK and local statistical data; marketing surveys (Eg: ONS; Interbrand) Explain why you think there is a demand or market for your service

Part 2.1 : Apply McCarthy’s 4Ps and any other relevant models:

• Place: Conduct a location search for your business and identify your competitors within the area.
• Products / Services: Describe in detail the product/ service that the business will offer, illustrate with examples.
• Price: Apply three Pricing strategies you have learnt, illustrate with examples.
• Promotion: What marketing strategies will you adopt. Explain why you would use social media

[40 marks]

2.2  Employees/ staff [ you must have a minimum of 3 & maximum of 7 employees] [10 marks]

• Explain the job roles assigned to the business employees. Eg: role of the manager/s
• Explain the advantages & disadvantages of having Zero-hour contract workers and Agency staff.

2.3  Customers/ clients [10 marks]

• Identify your customer target market. Who are your customer cohorts?

3.1 Should your business be successful, explain how the business could expand in the future. Illustrate by giving examples, what strategies you would adopt to expand