You will be required to identify, explain and justify the key factors relating to the business model, particularly the product and market that you will focus on developing further within the business plan. Whilst most students will choose to work individually, you can work in pairs on a joint business idea. In this instance, each member will be required to present and evidence their individual contributions. The lecturer reserves the right to review your group work and moderate the final group mark for each member based on the evidence provided and performance in the presentation.
Assignment Two: Business Proposition
A business proposition is an early-stage, mini-business plan that entrepreneurs would typically use for the first year of starting up a business and then review this to develop a full 2-3 year business plan when seeking investment. Students only have the semester to develop a business idea and create a business plan, so we need to ensure that your idea can be developed into a feasible business idea within a short timescale.
The plan should present your business idea in a sales focussed format so the reader can gain all the necessary information about your proposed idea now and the potential it has going forwards. It should also help you determine whether you should spend further time and resources on the business idea after graduating on a part or full-time basis if this is something you would like to pursue. When structuring your business proposition, you will be provided with business plan templates with guidance to use. It is important to bear in mind the audience who would typically look at a business plan – bankers and potential investors.
You can work in pairs as some businesses would be a partnership and in this case, you will need to submit one assignment version that you have both equally worked on together.
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