PROJECT BRIEF FOR N1576 NEW VENTURE CREATION AND BUSINESS PLANNING
1: An individual project of 3500words (100%) to be submitted as directed on your Study Direct site. This individual work will be based on each student’s perspective relating the team discussions relating to the project. Each student will have a different view of the business, in terms of market penetration, turnover, timings, financials and general assumptions, and so each student’s work will be different from every other member of their team. Each team’s work will be checked carefully to make sure that each submission is individual, and this is particularly the case in relation to the financials which will evidence the individuality of the work.
2: During week 3 seminar session, each team must submit a) the project plan and b) team name, team member names, plus team leader email address. This plan will be reviewed, to form the basis for a robust business plan.
It will be assumed that each team member has contributed 100%: we will be working on projects during the seminar sessions, and attendance at seminars should be noted by team leaders as this attendance contributes towards team participation. If the team feels that any member has contributed at less than 100%, then at the time of submission of the final report, the team leader should submit a document signed by at least 75% of the team that confirms which team member has not contributed, and the level at which this team member has worked. This team member will receive reduced marks corresponding to this participation.
3500 word Project plan The individual project of 3,500 words should follow the format of an expanded business plan. The word count does not include the appendices. You should include the following:
MAIN REPORT
1) Executive Summary
2) Venture Overview
3) Financial Plan Overview
4) Business objectives
5) Source of competitive advantage
6) Critical risks/threats and opportunities
7) Market analysis (overview)
8) Competitor Analysis (overview)
9) Management Team
10) Key people and advisers
10) Operations plan
11) Funding Request
12) Exit Strategy
Appendices
13) Market Analysis (full)
14) Competitor Analysis (full)
15)Types of Customer
16) Types of Product and Service
17) Marketing and Promotion
18) Main Competitors
19) Key Suppliers
FULL FINANCIAL PLAN
to include: cashflow years 1-3, P+L, Balance Sheet, Sales
Forecast, Fixed and Variable costs,
– cashflow years 1-3
– projected Profit and Loss
– projected Balance Sheet
– Sensitivity analysis
– Sales Forecast
– Direct Costs
– Overheads
– Fixed Assets
– Investments
– Loans
– Grants if any
The appendices should include a section of around 2 pages showing reflective thinking: this should detail your awareness of the dynamics and processes of working as a team, and the development of your and the team’s learning and insight as the project develops. For this, it is useful to research writing on team dynamics and the ideas surrounding the learning of entrepreneurship, and to link your learning process to this research. This work should reflect on the process undertaken by the individuals within the group to identify and agree the business idea. The process of working together on the business plan. The learning derived from group work.
Criteria for Evaluation. The evaluation is based on the following criteria:
Individual project
A) Structure
B) Line of argument and reference to theories and tools discussed during the course, and also researched individually
C) Evidence provided
D) Presentation and format
Reflective thinking component
The extent to which this is not a narrative, but a conscious linking of the development of the group dynamic and learning, and the individual learning and development of perspective with academic theory. Straightforward narratives will not win good marks.