MGT 310: Small Business & New Venture Management Business Development Plan Assessment Task 3 – 40% Semester 1, 2019 Due: Week 12 Mode: Individual Word count: 2000 words Submission: Safe Assign MGT 310...

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MGT 310: Small Business & New Venture Management Business Development Plan Assessment Task 3 – 40% Semester 1, 2019 Due: Week 12 Mode: Individual Word count: 2000 words Submission: Safe Assign MGT 310 Small Business & New Venture Management Assessment Task 3: Business Development Plan You will provide a thoroughly researched and justified business development plan for a small business or new venture in report form. This report builds on your previous research and analysis undertaken for Assessment 2. Task 3 now requires that, in professional report form, you outline and justify your strategic development decisions for the small business/new venture under analysis. Assessment Task 3: Small Business & New Venture Development Report ( Goal: The purpose of this task is to develop enhanced professional business analytical and written communication skills. Product: Report Format: This is an individual assessment. You are required to analyse and interpret a small business/new venture context and identify and justify suitable enterprise development strategies/measures. (Please refer to Blackboard for further information) NB Individuals are required to provide only ONE (1) ELECTRONIC COPY of the report. This must be submitted to Blackboard via Safe Assign. This task is being used for measuring assurance of learning towards Association to Advance Collegiate Schools of Business (AACSB) accreditation. The following Program Learning Objective will be assessed: ) PLO1.1: Written Communication Demonstrate effective written communication skills in a small business/new venture business context. Criteria: NB criteria for this task can be found on Blackboard and will be discussed in class. · Situational analysis and interpretation of a small business context (market, customers, competitors, finances, HR etc.) · Identification of insightful, coherent and integrated strategies and measures to develop the small business. · Validation of strategies/measures through analysis and by reference to and application of appropriate research and core theoretical concepts. · Presentation – professionally presented demonstrating effective written communication skills in a business context discipline-based vocabulary, well-structured and organised content, appropriate referencing in body of report and reference list. Instructions: · This task must be undertaken individually. · There is a word count limit of 2000 words for this task (+/- 10% is acceptable). · The executive summary is not included in the word count nor is the reference list or any appendices. · Use the rubric located in Blackboard to assist you as to the key elements that you should address in your report. · This is a professional report and therefore requires that a structure should be applied and headings utilised (see Summers and Smith Communication Skills Handbook - 3rd or 4th edition available from the library and/or book shop - for a guide to report structure). · Your report will be based on an existing real-world small business/SME or a totally new venture of your choosing. · Task 2 deliberately provides a foundation for the for Assessment 3. · Remember to consider the development opportunity from a holistic small business perspective and your plans must therefore recognise and incorporate all appropriate key functions including the key financial aspects in a cohesive, integrated manner. You also need to address how you will measure performance going forward. Potential framework for your report: As above use Summers and Smith Communication Skills Handbook to guide your structure. Whilst the report structure is up to you, a potential broad framework for your development plan might include: · Title page. · Executive Summary. · Table of Contents. · Introduction. · Background. (short overview of the business and it’s market). · Development opportunity and goal(s). (identify and justify). · Development Plan. (coverage of all appropriate key business functions including key financial aspects as well as identification of how you will measure performance). · Conclusion. · Recommendations. · References. · Appendices. The use of theory/research · The research utilised in the report should include both appropriate market data as well as academic sources. · Application of Small Business & New Venture Theory to support your analysis is important. Utilisation of the textbook is important but you are encouraged to also source wider academic literature to secure superior grades. · Appropriate academic/professional referencing is required including in text referencing. · Use any recent edition of Summers and Smith Communications Skills Handbook available from the library and/or book shop - for guidelines on your report structure and Harvard referencing. · Contact the Faculty Librarian at any time to get support in terms of accessing USC research resources available to you. · For assistance in terms of your academic skills including report writing contact USC Academic Skills Advisor(s). https://www.usc.edu.au/learn/student-support/academic-and-study-support/academic-skills-advisers 2 MGT 310 : Small Busines s & New Venture Management Business Development Plan Assessment Task 3 – 4 0 % Semester 1 , 201 9 Due: Week 1 2 Mode: Individual Word count: 20 00 words Submission: Safe Assign MGT 310: Small Business & New Venture Management Business Development Plan Assessment Task 3 – 40% Semester 1, 2019 Due: Week 12 Mode: Individual Word count: 2000 words Submission: Safe Assign
Answered Same DayJun 01, 2021MGT310

Answer To: MGT 310: Small Business & New Venture Management Business Development Plan Assessment Task 3 – 40%...

Sandeep answered on Jun 06 2021
132 Votes
BUSINESS DEVELOPMENT PLAN
Table of Contents
Introduction    3
Background    3
Development opportunity and goals    4
Development plan    4
Conclusion    8
Recommendations    8
Reference List    9
Executive Summary
The study shows the business development plan of the Canva and the opportunity and target of the business. There is a detailed analysis of the recommendations for the betterment of the business. Proper planning is very important as well as the budget analysis and the marketing plan
is also very important for the business development plan. The communication plan helps the company to explain that they care for their users in every aspect regarding technology. The Company can adopt a few more steps in order to generate more revenue and increase the business, which is discussed below.
Introduction
The business development plan is the guidance that is provided to the organisations for the purpose of building a strong value of the product and the service. A successful Business Development plan is the inclusion of SWOT Analysis, situation analysis in a clear state, outlining goals and objectives, tactics and strategies of the institution. The Business Development Plan is used for the success of the organisation and to understand the vision and mission of the organisation. The study provides information about the background of the business development plan in an organisation and development goals and opportunity. There is a detailed discussion about the development plan. The study provides some recommendations for the betterment of the business.
Background
The Company taken in this study is the Australian small scale company Canva (businessinsider.com.au, 2019). Canva is an online graphic designing platform and has been doing great since its inception. The company had shaken the complicated and expensive software by replacing them. The design floor had made it possible and had created a simple way to flourish due to its beautiful business development plan. The business development plan had helped the business to grow and create a platform for social media, presentations, graphics, posters, invitations, and blogs (Wirtz et al. 2016). This has been possible due to the determined vision of the company owners, who had made an excellent business plan, which include advertising, marketing, team building, and innovative idea generation.
The company was launched by Cliff Obrecht and Melanie Perkins, who planned to start up a business of their own and started the business as a small scale enterprise. The pair built a technological efficient team and started making some Fusion books, which made a huge market in Australia. The fusion Book has become the largest school yearbook publisher and it has even expanded in France and New Zealand. The company started its journey in the year 2012 and started gaining name from the first year. In the first year, Canva had almost 750,000 users and social media expert and technology master Guy Kawasaki joined the team as the chief evangelist (forbes.com, 2019). This helped the business to grow with immense pace and increased its confidence level. Canva for work started giving business for producing the marketing material.
Development opportunity and goals
The development opportunity and the goals of the Canva include many targets for them. They have a plan to involve the whole population to use their platform for the designing and the graphic making purpose. Their goal is to target the whole technologically advanced sector of the world. They can try to provide a few opportunities for the population with their application.
· E-learning- The Canva can try to produce a system, through which the population can get facilitated in E-learning. As opine by Chang (2016) they can provide an opportunity for the people to learn graphic designing through online tutorials through their app.
· Online designing- They can provide part time jobs from home. They can open jobs where they would ask the candidate to make design through their pp and submit through Canva only. They will be paid for their service and their designs will be used in images.
Apart from this, the Canva started working with certain goals and they can make further goals for their betterment. They can aim for targeting the students who are most addicted to technology now and they will be more known to them. They will be used more and young people will be happy in using the new designs.
Development plan
Planning
Proper planning is very important in order to bring in a profit, to make business, to attract users and to make a cost-effective production. It is very important for a company to conduct research as it is the most important part of planning while developing a business. It is very important to know who the present competitors are and which product is attracting the market...
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