-138519-13716000 11 Business Studies Formative Task
-138519-13716000 11 Business Studies Formative Task
Topic: - Business Planning
Task: Business Plan
Components Issued Due Date
Knowledge & understanding of course content
Stimulus-based skills
Inquiry & research
Communication of information, ideas & issues Term 2
Week 1 16 / 6 / 23
Term 2, Week 8
Submission Details Upload to iLearn before 6pm on the due date.
Outcomes Assessed P3, P4, P7, P8, P9
Outcomes to be Assessed
P3Describes the factors contributing to the success or failure of small to medium enterprises
P4Assesses the processes and interdependence of key business functions
P7Plans and conducts investigations into contemporary business issues
P8Evaluates information for actual and hypothetical business situations
P9Communicates business information and issues in appropriate formats
Task Description
Write a Business Plan with a maximum of 2500 words & an Appendix with a maximum of 4 pages by:
Devising a business plan for a hypothetical small to medium enterprise (SME).
(Refer to the business plan scaffold on the next page to assist with writing your business plan)
Your business plan must undertake the following:
Identify the product focus
Devise a plan of approach
Gather and process relevant information
Critically review the plan and the process
Clearly communicate the result
Marking Rubric & Assessment Criteria
You will receive a grade (A-E). You will be assessed on how well you:
Demonstrate knowledge and understanding relevant to the question
Apply the hypothetical business situation
Communicate using relevant business terminology and concepts
Present a sustained, logical and cohesive response in the form of a business plan.
Business Plan Scaffold
A good Business Plan will always include the following components:
Business Name:
Make it fun and creative, design a logo if applicable.
15906754381500
Prime Function:
What does the business do?
This business provides functional and stylistic glasses for consumers to enjoy.
Describe the product, service or idea.
Distinguish it from other similar products / services?
This may be an innovative product or an existing product that will be delivered to the market in an innovative way.
Location:
Where will the business be located?
Legal Structure of the Business:
What type of entity will you operate?
Will it be a sole trader, partnership, or small company?
Business Mission:
What does your business want to achieve/accomplish?
Why will it exist?
For guidance, read the mission statements of companies you know.
Staff Requirements:
How many staff are required and what will their qualifications & subsequent training needs be?
What skills and knowledge will be required of management?
Design an organisational chart showing your management structure.
What are your policies regarding Human Resource Management (HRM)?
Marketing Plan:
Based on the market research you have undertaken, what is the target market for your product/service?
What is your anticipated place in the market?
How will you conduct market research?
What distinguishes it from other similar products/services?
How will you design your product to be attractive to the market?
How will you price your product?
What competition does your business face and how will you counteract them/it?
How will you promote your business to the market?
How will you distribute your product to consumers?
Situational Analysis:
What are the strengths, weaknesses, opportunities and threats (SWOT) confronting your organisation in bringing this product to the market and being successful (i.e.: making a profit) in the market?
Identify the competitive advantage of your business (e.g.: value, benefits, price, etc.).
Social / Environmental Goals:
What are the social / environmental goals of the business?
How will these be achieved?
What ethical and/or sustainability issues should your business consider?
Financial Plan:
The financial plan should include an overview of expected set-up / start-up costs and how these will be funded (e.g.: from savings, bank loan or family loan) this can be shown using an excel spreadsheet.
Future Prospects:
What is your expectation for the future of this business?
Will it expand nationally / internationally?
Will it diversify into complementary products / services?
Appendix:
You may include a maximum of 5 pages, which contain other documents that support your business plan such as: drawings of your product or business premises; detailed evidence of market research undertaken by you (e.g.: survey responses, newspaper articles, photo of competitors products) or additional financial data.
Further Guidance:
Please refer to Chapter 13 of the text and the following resource for further guidance: https://www.business.gov.au/Planning/Business-plans/How-to-develop-your-business-planBusiness Plan Formatting Guide
Front Pages:Title Page and Table of Contents page should be included
Headings:Utilise headings and sub-headings throughout the plan
Bold and underline
Text:Font: - size 12 and Times Roman
Left and right justify text so it is square
All Pages must be numbered.
Margins:Top & Bottom 2cm; Left & right 2cm
Paragraph Structure:Indent first line of paragraph (i.e.: use the tab key)
Leave one blank line between paragraphs
Spacing:1.5 spacing between lines in text
Double space after each full stop
Citations:Number diagrams & provide a heading for the diagram
APA referencing should be used.
Use capital letters where needed
Written Expression:Write in the third person
Do not include personal terms
Do not start sentences with but, because, which or and
Avoid using therefore and semi-colons (;)
Re-read draft and check red and green underline
Additional Advice
The Small Business Plan is a task which will be undertaken throughout the term. Some class time will be devoted to assisting you in the planning of your task, but a large amount of personal preparation will be required in your own time. In-class workshops will be conducted to support your content knowledge.
A couple of additional things to keep in mind:
Keep it simple, the plan should be a clear and concise overview of your business idea. It should reflect a strong degree of professionalism and organisation.
Develop a business plan that covers the areas identified below though exact format is flexible.
Support with your chosen structure will be provided in class through workshop sessions and individual consultation.
