ASSIGNMENT BRIEF

Programme:

BTEC Higher National Diploma (HND) in Business ESBM (RQF)

Unit Number and Title

Unit 28: Launching a New Venture

Unit Level:

05

Unit Lecturer:

Lecturers Email:

Assessment Title

Embracing E-Commerce: A Strategic Initiative for Growth in the UK Hotel Industry

Personal Tutor:

Personal Tutors Email:

Key Dates

Issue date:

20/05/2024

Submission date:

28/07/2024

Result Published Date:

15/08/2024

Submission Format

The assignment is to be submitted as aReport and Planthat can be presented in a format of your choice. The Report must be clear and concise, stating the problem/issue and include a summary of analysis and recommendations.

All your work must be supported with research and referenced correctly using the Harvard referencing system (or an alternative referencing system). You must also provide a bibliography using the Harvard referencing system (or an alternative one). Inaccurate referencing use may lead to plagiarism issues if not applied correctly.

The recommended word limit for the briefing paper is 2,5003,000 words, although you will not be penalised for going under or exceeding the total word limit.

Unit Learning Outcomes

LO1Investigate the resources required to launch a new venture.

LO2Explore the skills and capabilities required to support the launch of a new venture.

LO3Develop promotional activities to support the launch of a new venture.

LO4Produce a budget for launching a new venture for a small business or social enterprise.

Transferable skills and competencies developed

• Planning and understanding resources: categorising, analysing, and utilising tangible, intangible, financial, and human resources.
• You acquire skills, identifying required capabilities, and recognizing networks' importance.
• Develop promotional activities for a new venture, including marketing mix, pricing strategy, business identity, website creation, social media, and mobile marketing.
• Evaluate and review promotional activities, ensuring appropriateness for the new venture's launch.
• The venture launch budget includes pre-launch costs, forecasting income and expenses,
• A detailed budget including one-off and ongoing costs and calculating break-even points.
• It also includes available financial resources, 'what-if' scenarios, and contingency measures.

Assignment Brief and Guidance

Vocational scenario

A leading UK hotel chain will embrace e-commerce to enhance competitiveness in the evolving hospitality landscape. The initiative will aim to establish a robust online presence and drive customer engagement. Significant investment will be made in technological infrastructure, including online booking platforms and secure payment gateways, alongside recruitment and training efforts to acquire and develop skills in e-commerce management, digital marketing, and data analytics. Promotional activities, such as targeted marketing campaigns across digital channels and collaborations with influencers, will be employed to drive traffic to online platforms and incentivize direct bookings. A comprehensive budget will account for technology investments, personnel costs, marketing expenses, and promotional activities, ensuring efficient resource allocation and sustainability. Ultimately, the hotel chain will successfully launch its e-commerce venture, driving growth and competitiveness in the UK hospitality sector through strategic resource allocation and innovative marketing initiatives.

Your Role

As a Junior Business Development Manager within any organisation of your choice, it is essential to explore the key elements required for a successful venture launch.

You are required to make a report and plan to start a new venture that you will submit to your line manager; in your report you will be identifying and using personal networks that can offer a valuable source of knowledge, resources, advice, and opportunities for your chosen organisation.Top of Form

Assignment activity and guidance

Part A- The Report will cover the following answers

1. An assessment of Tangible and intangible resources on different forms of business.
2. Evaluate and apply those resources based on target customers, segmentation and competitive advantages in your chosen organisation.
3. Discuss the different skills and capabilities required to launch a new venture.
4. Discuss necessary skills and capabilities for launching a new venture and evaluate resources, skills, and abilities for a successful launch.
   
   Part B - Create promotional activities Plan and budget for new venture launch.
   
   
5. Develop a Promotional Activities Plan for your new ventures, including
   
   • Name of the venture and how do you register for the venture
   • key promotional messages and personalised branding
   • Social media and digital promotion techniques
   • Leveraging mobile marketing for specific target markets
6. Create a promotional activities plan for a new venture, addressing the marketing mix and evaluating success using metrics to support the launch of your ventures
7. Produce a monthly itemised cash budget for the pre-launch phase and the first 12-18 months following launch, highlighting costs, ongoing expenses, and anticipated income.
8. Create a comprehensive budget based on financial resources and contingency measures for anticipated outcomes.

Learning Outcomes and Assessment Criteria

Pass

Merit

Distinction

LO1 Investigate the resources required to launch a new venture.

LO1 and LO2

D1 Critically evaluates the availability and appropriateness of resources, skills and capabilities to support the successful launch of a new venture.

P1 Examine the tangible and intangible resources required for the launch of a new venture.

M1 Evaluate the availability and appropriateness of the tangible and intangible resources required to launch a new venture.

LO2Explore the skills and capabilities required to support the launch of a new venture.

P2 Discuss the different skills and capabilities required to launch a new venture.

M2 Evaluate a range of skills and capabilities required for launching a new venture.

LO3Develop promotional activities to support the launch of a new venture.

D2Create a promotional activities plan that includes a set of metrics to evaluate success.

P3 Devise a promotional activities plan for the launch of a new venture.

M3 Develops a wide range of promotional activities that address the marketing mix to support the launch of a new venture.

LO4Produce a budget for launching a small business or social enterprise venture.

D3 Produce a comprehensive pre- and post-launch monthly itemised cash budget based on financial resources and contingency measures for anticipated outcomes.

P4 Produce an itemised monthly cash budget for the pre-launch phase and the first 1218 months following launch..

M4: Produce a detailed monthly cash budget, showing one-off costs, ongoing costs and anticipated income post and pre-launch.

www.entrepreneur.com

Entrepreneur (General reference)

www.entrepreneurhandbook.co.uk

Entrepreneur Handbook (General reference)

www.isbe.org.uk www.forbes.com

The Institute for Small Business and Entrepreneurship (General reference)

Forbes Small Business Entrepreneurs (Articles)