Planning process in developing a business idea

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Reference no: EM133561466 , Length: word count:3000

Learning outcome 1: A critical understanding of the entrepreneurial character, start-up and growth strategies, and business planning.

Learning outcome 2: The ability to formulate and produce a comprehensive viable strategic business model and plan following a critical assessment of a market opportunity, using creativity, innovation, and an understanding of financial resource implications; implement and evaluate the strategic business plan.

You are required to write a comprehensive business plan that is aimed to making a business case to potential investors. This can be a real or an imaginary business plan. Whilst you do not have to follow any precise format, a specimen format is provided in the textbook. The interactive chapter exercises on the textbook website allow you to build your plan step-by-step and place it in this format.

Marks will be awarded for the thoroughness of the plan, not for the profit-making potential of the business idea. A good plan that proves the idea to be unviable can receive full marks. A profit projection, breakeven calculation, monthly cash flow forecast, and balance sheet are required only for the first year. You must provide details of the assumptions on which these are based.

The unit leader evaluates reports based on the following criteria:
• Clarity, consistency and originality of value proposition(s)
• Clear, identification of target market segment(s)
• Comprehensiveness of market and competitor analysis
• Consistency/originality of core marketing and entry and/or growth strategies
• Comprehensiveness and accuracy of financial projections
• Comprehensive identification of resources required and financing
• Identification of material risks and their mitigation
• Realism and practicality of plan
• Overall presentation

There will be a formative opportunity to draft your business pitch in class where it will be reviewed by a panel of academics, entrepreneurs and each other.

• Evidence understanding of the planning process in developing a business idea
• Demonstrate capacity for the design, development, and through analysis explicate a business plan for an opportunistic venture
• Evidence financial planning through quantification of resource need and utilisation to implement a business venture

Reference no: EM133561466

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len3561466

11/1/2023 10:07:53 PM

Use my idea for the new business plan and strategy in the second attachment. assignment brief and its requirements: • Clarity, consistency and originality of value proposition(s) • Clear, identification of target market segment(s) • Comprehensiveness of market and competitor analysis • Consistency/originality of core marketing and entry and/or growth strategies • Comprehensiveness and accuracy of financial projections • Comprehensive identification of resources required and financing • Identification of material risks and their mitigation • Realism and practicality of plan • Overall presentation

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