Understanding of the running of a business venture

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Reference no: EM133723340 , Length: word count:3500

Business Development and Value Creation

LO 1. Demonstrate an understanding of the running of a business venture.

LO 2. Apply key entrepreneurship and small business theories and principles.

LO 3. Critically examine how entrepreneurs manage networks and relationships.

LO 4. Identify sources of finance for developing a business and how to manage risk

Assignment Description

Demonstrate an understanding of entrepreneurship and running a small business venture.

The report will be developed in a business plan format and develop each section required for successfully setting up a small new venture. The business plan must define and demonstrate the application of key theory such as:

- Innovation
- Entrepreneurialism/Intrapreneurship/Social Entrepreneurship
- Business modelling
- Market/industry analysis such as Porters Five Forces, PESTEL, Social, Human and Financial Capital
- Marketing principals
- Sustainability

The business plan should include key headings:

- Executive summary
- Business description - typology, geographical reach etc.
- Product/service description - innovative, look feel, functionality
- Market analysis - industry analysis, competitor and customer analysis
- Marketing strategy - how are you going to attract customers, vision and mission statements
- Operations and logistics - what and who do you need to deliver your business, due diligence, risk management
- Financial forecast (cash flow statement and cash flow forecast)
- Key Milestones

Reference no: EM133723340

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