New Enterprise Development and Small Business ASSESSMENT 1 Individual Assignment Name Student ID Stream/ Class Number: - Date Due: - Sunday, 12th March 2017, 11:55 p.m. Prepared by: DONNA FERNANDEZ DATE: 10 FEB 2017 Moderated by YURY ZHUKOV DATE: 16 FEB 2017 ASSESSMENT CONDITIONS This assessment is to be completed as an individual homework assignment. Candidates are reminded that the work they submit should be their own work. It should NOT be copied from any other student(s)/textbook(s), nor downloaded from the internet. EDENZ Colleges takes very seriously any breaches of the college’s rules about copying, or plagiarism. The consequences of engaging in such activity may result in the ending of your studies with the college. Further, a simple restatement of theory will be insufficient to gain a pass level mark. This is because diploma level study requires more than just simple recall of theory. Instead it requires an analytical approach. All relevant EDENZ college rules regarding ‘assessments’ must be observed. LEARNING OUTCOMES ASSESSED This assessment covers the topics relating to the following learning outcomes of the course: a. Analyse the impact of internal and external environment in business management contexts and on new business entities, b. Discuss the broad management principles and practices, which support the operational efficiency and effectiveness of a business enterprise, c. Analyse problem solving and decision-making for efficient and effective performance in new enterprise or small business contexts. This assessment represents 40% of the total New Enterprise Development course. The pass mark for the whole course is 50% and there is 1 more assessment worth a total of 40% left to complete. INSTRUCTIONS TO STUDENTS • This is a homework assignment. Any sources used should be appropriately referenced • Ensure you submit your assignment in the PDF file format. • Ensure your full name and student number appear at the top of every assessment page • Note the due date and time and submit your work by that deadline (10% of your marks will be deducted for each working day that you are late, unless you have documented evidence of a mitigating circumstance [e.g. illness]). • When uploading your assessment on Moodle, ensure you accept Turnitin’s terms and conditions. • There will be no re-submission option for plagiarized assessment. SITUATIONAL ANALYSIS DESCRIPTION Develop a situational analysis of a selected company. It must be for either a startup, or expansion of an existing business (i.e. entrepreneurship or an intrapreneurship concept). Discuss the various marketing and financial strategies used in its product or process. Show how opportunity, competitive environment and human factor correlate with each other to create organisational change within the business entity. CONTENTS Discuss the following relevant factors of your selected company. Analyse the interactions between the internal and external factors: I. PRODUCT a. What is the selected company’s current product(s)? (1 Mark) b. What is their price point relative to its competitors? (1 Mark) c. What position in the market does the product take? High quality? Lowest price? (1 Mark) d. Where does it purchase the product or its components? Are there other options for sourcing? (1 Mark) e. How does it get the product to the buyer? (1 Mark) II. MARKET a. What is the market for the product? Define it in terms of volume and value. (2 Marks) b. What is the impact of the current economic situation of New Zealand on the market of the business? (2 Marks) c. What growth can be anticipated in the market over the three years? (2 Marks) d. Describe the marketing / business strategies implemented by the company to maintain sustainable growth. (3 Marks) e. What other factors do you see impacting the market? i. Environmental regulations (1 Mark) ii. Political climate (1 Mark) iii. Influx of immigrants (1 Mark) iv. Technology (1 Mark) v. Other Environmental factors (1 Mark) III. CUSTOMERS a. Who buys the product? Define them in: i. Geographic terms (where they live), (2 Marks) ii. Demographic terms (facts such as age, gender, race, education level, marital status, income level, and household size), (2 Marks) iii. Psychographic terms (lifestyle characteristics, including attitudes, culture differences, beliefs and behaviours that affect customer-purchasing patterns) (2 Marks) IV. COMPETITORS a. Who are the company’s direct competitors? Describe each one along with the threats they pose to the company. (2 Marks) b. Who are the company’s indirect or stealth competitors? Describe each one along with the threats they pose to the company. (2 Marks) c. Describe the company’s business strategies to maintain a competitive advantage. (2 Marks) V. SWOT ANALYSIS a. Evaluate the Strengths, Weaknesses, Opportunities and Threats of the business venture. Give at least two points for each component of the SWOT analysis. (8 Marks) VI. CRITICAL ISSUES a. Identify the most important issues and challenges faced by the company which may hinder its survival and/or success. (3 Marks) b. Determine the actions or strategies implemented by the company to resolve the issues / challenges. (3 Marks) Total Marks 45 Marks LENGTH 8-10 pages single spaced (Arial 12 pt), the Situational Analysis must have approximately 2,000 – 2,500 words. FORMAT The paper MUST include proper headings and appropriate bullet points. Frameworks and models will be discussed during the course that could serve as guidelines. It is encouraged to employ graphics including pictures and diagrams to draw attention to important points. Students are advised to prepare parts of this assessment during study periods to ensure that they are guided and on schedule. Support documents and photos must be attached as an appendix. DUE DATE Situational Analysis must be uploaded to Moodle before 12 Midnight of March 12, 2017. CONTRIBUTION This assessment will be 40% of the total course grade.