Faculty of Arts, Business and Social Sciences – Assessment Brief for Students – 2021/22 Module code and title 6BE007 Creating a Winning Business Module leader Dr Ian McKeown Diet First attempt and...

(Abeta) Please follow all instructions, learning outcome and follow word count and student want plagiarism report and use the sources send with the assignment


Faculty of Arts, Business and Social Sciences – Assessment Brief for Students – 2021/22 Module code and title 6BE007 Creating a Winning Business Module leader Dr Ian McKeown Diet First attempt and resit Assessment type Individual report Submission date Monday 10th January 2022 2pm Submission method Canvas Digital Upload Assessment limits 4,500 words, excluding references/ appendices (10% over/ under allowance) Assessment weighting 100% Assessment brief (if appropriate, please refer to module assessment briefing document) The assessment is based on the completion of an individual New Venture Business Plan report. The report is comprised of five sections: 1. The Executive Summary: The Problem – The Solution. 2. The Value Proposition Canvas and Business Canvas Model. 3. Market analysis: Secondary and Primary research – feasibility/ proof of concept 4. Marketing launch & Marketing Plan 5. Finance: Projected Startup costs, Sales revenue, and Cash Flow forecast & summary for future growth You should also include an appendices section to the report in which you can include supporting materials such as, but not limited to: Your formative Business Pitch slides, market research questionnaire, equipment lists, supplier details, map of business location, identification of necessary licenses. You MUST include a table of contents at the start of your report. Further guidance on each section For section 1 The Executive Summary you should: (suggested 500 words - 10% of overall grade) · Introduce and briefly explain your creative business idea. · Summarize the problem(s) you are solving for customers and your creative solution. · Briefly identify your Role and Key Skills in the business and any staff if applicable. · Briefly identify the target market(s) you intend to serve and how you will reach them. For section 2 The Value Proposition Canvas and Business Canvas Model you should: (suggested 750 words - 15% of overall grade) · Produce a completed Value Proposition Canvas for your business with written explanation. · Produce a completed Business Canvas Model for your business with written explanation. For section 3: Market analysis: Secondary and Primary research you should: (suggested 1000 - 1250 words - 25% of overall grade ) · Undertake an analysis (quantitative & qualitative) of the market/ sector you intend to compete in (You must include reference to Market research data from published sources eg: MINTEL and or other reports.) What are the key trends in the sector? What opportunities does this reveal for your business idea? · Include a discussion of the results of your primary market research to substantiate that there is demand for the service or product. You should also make reference to any changes you have made to the business idea/ service or product/ distribution based on the primary research findings. · Provide a clear description of the target market(s) · Complete a competitor analysis: Who are the three most significant competitors in the market/ geographical area you are targeting (You should identify and comment on your competitor’s key strengths & weaknesses?) For section 4: Marketing launch & Marketing Plan you should: (suggested 1000 – 1250 words - 25% of overall grade) · State how you will Launch your business (create an identity, building awareness with your target market(s) How will you do this? Launch event? Pop up shop? Social media? Introductory offers? Endorsement from influencers/ bloggers? · Develop a summary marketing communication plan for your business. Online and offline – Targeted Promotional activity/publicity/ Events/Shows/ Selling activity/ social media marketing strategy: How you will use and combine Instagram/ You Tube/ Facebook etc? and links to your web site. · Explain how will you sell and distribute your products or services? Through social media? Website? Direct to customers or through intermediaries? Selling to commercial buyers? (other businesses?) · State how will you price your service or products? (Avoid simply competing on price). Use of a customer subscription model? Single unit vs. bulk purchases? (Your pricing strategy should relate to the projected monthly sales revenue in section 5. For section 5: Finance you should: (suggested 1000 – 1250 words - 25% of overall grade) · Identify your start-up costs- capital items you will need/ initial materials or stock– This should be as realistic as possible. How much start-up capital will you need to start the business? · Complete a monthly sales revenue forecast for 12 months - You should provide some written discussion of this section to explain how you reached your sales figure. · Produce a 12 Month cash-flow forecast - You should provide some written discussion of this section A cashflow template is provided on CANVAS · Include a brief summary statement at the end of your report identifying the future growth potential of the business over the next 2 years. Assessment Criteria (The actual assessment components for this assignment) Criteria Weighting (If applicable) To identify and critically evaluate a creative business idea 25% To undertake and analyse primary and secondary market research to test market feasibility and identify target customer segment(s) 25% To produce a coherent marketing launch and marketing plan appropriate for the successful development of the new business venture. 25% To apply and discuss appropriate financial planning tools for the set up and running of the new business venture. 25% Pass mark Undergraduate 40% Other (PSRB or subject specific) Performance descriptors in use; · University of Wolverhampton Yes  No  · Professional or Statutory Body Yes  No  · Module specific Yes x No  · Other (specify below) Yes  No  Return of assessments (Instructions for return / collection of assessments) N/A This assessment is testing Module Learning outcomes Tick if tested here LO1 To demonstrate creativity by identifying a new venture idea and undertaking a critical evaluation of its viability and the strength of the value proposition using the Business canvas model framework. ( LO2 To undertake, analyse and present secondary and or primary research, including qualitative and quantitative analysis of data to evidence the sector/ market/ trends/ target markets/ competitors and the necessary resources required to start the venture. ( LO3 To complete a comprehensive business plan that presents a cogent and structured rationale for the potential of the new venture start-up. This will include a critique of the business idea/ value proposition; Business Model Canvas, Market research/ Target market(s); Marketing plans; start-up costs/ cash flow and resources/ operational plans and other materials. ( Additional information for students The University’s Learning Information Services have produced a series of guides covering a range of topics to support your studies, and develop your academic skills including a guide to academic referencing http://www.wlv.ac.uk/lib/skills_for_learning/study_guides.aspx Your module guide and course handbook contain additional and important information regarding; · The required referencing style for your assignment.* Whilst many modules require referencing in accordance with the Harvard Referencing convention, some modules – for example those within the School of Law – require Oxford Referencing. Please familiarise yourself with the requirements of your module. · Submission of your