· Coursework 2 requires you to write a full business plan based on the business idea you proposed for CW1.
The following must be included in your business plan:
· Your Proposed Future Business. – What is the product/service (i.e. provide a clear description)? What does it do? What innovations does your idea bring to the market? Appropriate intellectual property rights (IPR) in order to protect your business idea/enterprise, if applicable (10 %)
· Customers – identify your target customers. B2B or B2C? Who are the end-users? Who will buy your product/service? What is the USP of product/service? What customer needs does the product/service meet? The underpinning research for the target market and an evaluation of the businesses’ position in the market (10%)
· Competitors – who are your competitors for the product/service? What market share do your competitors have? Why might your customers buy your product/service rather than that of the competitors? (15 %)
· Skills analysis – what skills do you have for developing and taking your business idea forward? What skills do you need? How will you address any skills gaps that you might have? (10%)
· Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including break even (15%)
· Finding, evaluating and selecting suitable sources of funding to grow the business opportunity (10%)
· Your plans for obtaining your resources, both tangible and intangible between now and either 1-2 year ahead. This should include a breakdown of your start-up costs. (10%)
· The type of organisation and the management information systems required to effectively control the business (10%)
· Vision for your Business Idea – what future does your business have? (5%)
The remaining 5% will go into assignment parameters such as structure, synthesis, references etc.