Planning a new business?
Order Description
Task 1 — Research and report
You must decide how to use tine money. What type of business agariisation are you going to operate? What is the current market in which your organisation/venture will be operating?
Write a formal report to support you pitch (AC 4.2 part). It should include:
a) different types of business organisations that you couid set up and an analysis of the potential benefits, limitations and risks associated with each (AC 1 1)
b) an analysis of the sources of finance for each type ot business organisation (ACI.2) analysed in (a)
c) an evaluation of the legal considerations relevant to planning a business venture (AC
1.3)
d) an analysis of the market conditions that will impact on setting up your new business venture (AC 2 1)
Task 2 Business Planning
Prepare a business plan for your chosen venture (AC 4.2 part). You should include as a minimum sections about:
a) The organisation o You will need to develop the mission, vision, aims and objectives of the business (AC 3.1)
o Propose business structures and systerns that will deliver the business aims and objectives (AC 34)
b) The product
You need to justify the need for your business product. To do this you will need to analyse gaps in the market for potential proclucts (AC 2.2)
o analyse target markets for your business venture (AC 2 3)
a interpret the external factors and market conditions you analysed in your report to justify the need for your product (AC 3.2)
•.0 specify your business products to meet the needs of the target market (AC 3.3) c) Forecasts
Your backer will want to know the return on his money! o Produce business planning forecasts based on targets (AC 3 5) o Identify your business responses if these targets are not met (AC 3.6)
Task 3 — Your pitch
You must now meet with you backer to: o pitch for his funding of your business proposal (AC 4 1) and
o provide him with the documentation you have produced (AC 4.2) to support your pitch
i.e. your report and business plan. including forecasts
1 Understand the different types of business organisations
2 Understand factors that determine market potential
3 Be able to develop a business
case
4 Be able to pitch a business proposal
@ ATHE Ltd 2015
Level 4 Management Specification February 2012
Assessment Criteria The learner can:
1.1 Analyse the potential benefits, limitations and risks associated with different types of business organisations
1.2 Analyse sources of finance for different types of business organisations
1.3 Evaluate the legal considerations relevant to lannin a business venture
2.1 Analyse market conditions that impact on setting up a new business venture
2.2 Analyse gaps in the market for potential products
2.3 Anal se tar et markets for a business venture
3.1 develop the mission, vision, aims and objectives of the business
3.2 Interpret external factors to justify need for your business product
3.3 Specify the business product to meet needs
3.3 Propose business structures and systems that will deliver business aims and objectives
3.4 Produce business planning forecasts based on targets
3.5 Identi business res onses if tar ets not met
4.1 Pitch for funding for a business proposal
4.2 Present documentation to su ort our itch
