Reference no: EM132635040 , Length: 2300 Words
Task 1:
Imagine you are setting up a small business of your own. Your start-up budget is £20,000. Complete the following tasks:
- summarise how your business will operate (mention the industry, location, target customers and your business model).
- name your business
- decide on your visual identity (this could be a description or could include images of similar brands, or create a logo on your own)
- Create the values that you wish to promote as a business (e.g. social, environmental, equality and diversity etc.)
The word limit for this task is 600 words
Aiming higher
Good responses will have a choerent and inventive business plan. Some attention to the visual identity will also improve your work.
Task 2
You will need to conduct Market Research to help develop your business. Give justification when answering the following questions:
What primary research will you conduct? Why? What secondary research will you conduct? Why? What quantitative research will you conduct? Why? What qualitative research will you conduct? Why?
The word limit for this task is 350 words
Aiming higher
Develop your answer, you could provide referenced examples of businesses which have benefitted from the research methods above. You could also choose methods that are inventive but importantly appropriate to the type of business you are developing.
Task 3
Recently you have been faced with an ethical dilemma regarding your business:
Your business has been given the opportunity to be promoted by a popular website at a discounted rate: however, this company has also been accused of treating its employees badly. There have been reports of discrimination, bullying and harassment by the management. The website is likely to greatly increase the popularity of your business as it has a target audience of thousands of people. However, there is a risk that associating with this company may damage your brand or demotivete your staff.
Resolve this dilemma and give justification for your decision. You should refer to at least one other legal case. You should also refer to the business values you created in Task 1.
The word limit for this task is 350 words.
Aiming higher
To develop your answer, you could make reference to examples of relevant ethical dilemmas that have been solved by companies or individuals. You could also take examples from philosophy and psychology.
Task 4
Your business has grown enough for you to be able to employ two members of staff on zero-hour contracts. Answer the following questions:
- How will you comply with Equality and Diversity law when selecting applicants?
- What rights will your new employees have?
The word limit for this task is 350 words.
Aiming higher
To develop your answer, you could make reference examples of companies who have good equality and diversity practice. You could also refer to legal cases to justify your response to the second part of the assessment.
Task 5
Complete the following:
- Describe your business assets, liabilities, expenses and gains.
- Being mindful of the E20.000 budget for your business, provide an account of what you will do to avoid any cash flow problems
The word limit for this task is 350 words.
Aiming higher
To develop your answer, you could show careful consideration for the budget. You could also use real cases and further research to help plan your cash flow.