Reference no: EM132323348 , Length: word count : 900
Project Report Assignment Brief
Project task
Write a research lead and evidenced-based report based on the product from your presentation. The report should provide full details on all of the following points;
1. Analyse the feasibility of your product and business idea from the perspectives of production and start-up funding.
• You need to provide clear evidence that your idea represents a realistic proposition. You must demonstrate that the technology exists to support your product and that the start-up costs are not too high. To do this you will need to consider carefully how the product will be produced.
2. Analyse the competitive environment into which the business will be launched.
• This must fully identify the competitive and environmental factors that are specific to your business using appropriate theoretical frameworks
3. Produce a forecast profit and loss statement detailing your planned incomes and expenditures for the first year providing a commentary justifying the methodology and values used.
• The figures that you use must be justified using as much evidence as possible
• You need to describe your reasons for the figures and assumptions that you make
4. Your main aims for the business over the period of the first year of its operation.
• These must be described using the SMART framework
Throughout your report you must provide evidence to support your plans, ideas, actions and decisions.
Additional guidance notes - Here are some ideas on report layout and content points.
1. Feasibility analysis
1. Briefly describe how you will make the product;
o identify all of the resource that you will need (Buildings, land, machinery, skills, tools, equipment....etc)
2. Provide evidence that your product can be produced.
o Is the technology already available or does this need to be developed?
3. Estimate the likely start-up costs for your business;
o How much investment is needed to start production?
(Suggested word count; 300 to 350)
2. The competitive environment
1. Provide a detailed analysis of the market your business will be entering;
o Make specific reference to established theoretical frameworks such as Porter's Five Forces and PEST analysis.
o make sure that you discuss these theories making specific points about your business concept
(Suggested word count; 300 to 350)
3. Financial reports and commentary
1. Use this section to display and discuss your projected Profit & Loss statement.
2. It is extremely important to provide a commentary which should;
o Explain the major points of your financial statements
o Justify the assumptions that you make in preparing the data
o Provide evidence to support the estimates that you provide
o Where necessary provide details on the methodology of your research work
3. Provide a detailed inventory of expected start-up costs for the business.
(Suggested word count; 200 to 250)
4. Business Aims and strategy
1. Identify clearly your main business aims over the first year of operation
o State what your top priorities are using SMART goal setting
o Explain why these goals are important to your business
o Identify how you will measure your progress towards achieving them
2. Briefly identify some of the main strategic actions you will take to set your business on the right path towards achieving these goals
(Suggested word count; 200 to 250)
5. Conclusion
1. Summarize briefly the main points from the report
2. Identify your competitive advantage;
o What are the factors that are going to make your business a success?
(Suggested word count; 100 to 150)