What is the assessment?
Individual Business Plan (100% of module marks) Due date: 25 July 2019 by 1pm. Online submission via Moodle dropbox The purpose of this assignment is for you to identify an opportunity for a new business or a diversification/growth opportunity for an existing business, such as the business you currently work for. Having identified an opportunity, you are then required to conduct the necessary research, gathering primary and secondary data, to demonstrate the potential for its success. You need to prepare a written business plan in which you provide a clear explanation of the opportunity you have identified, present evidence of your research to demonstrate its feasibility and viability, and explain your implementation plan. Your business plan should be in the region of 6,000 words excluding any appendices. The plan should include a title page, executive summary, contents page, and a list of any references of books, articles, databases and websites cited in the document. For your best chances of success, please ensure that you read the assessment brief and assessment grid in detail to understand the full requirements of the assessment.How should I structure my business plan? There is no set structure for a business plan: it may depend on the nature of the opportunity and whether you are writing about a new business opportunity or a growth opportunity for an existing business. As a guide, however, a typical plan is likely to cover the following: The background to your proposed opportunity: how you identified it and your motivation for proposing it; The core features and benefits of the opportunity; Steps taken to test your idea among target market; The size and profile of your target market; The direct and indirect competitors; Plans for promoting your proposed opportunity; Sales strategy; Finances required to fund the opportunity; Sources of finance for the proposed opportunity; Financial statements; Contingency plans and risk assessments; Operational plans (premises, equipment, suppliers, staffing, insurances, etc.) Plans for managing the new business or the growth opportunity; Legal or regulatory requirements. How should I present my business plan? Again, there is no set presentation format or style. You can upload your plan in word, pages (Mac) or pdf format. It is best to stick to the RGU report writing format (there is a guide to commercial report writing available on Moodle in the Study Skills section) with an executive summary, table of contents and numbered headings, with additional appendices if required. Any references used within the plan to strengthen and underpin your argument should be in RGU Harvard format (again, there is a guide on Moodle). You are encouraged to use tables / graphs / images / other visualisations within your plan.