Aims and learning outcomes of the module
LO1: Critically evaluate the alternative sources of business finance (bank loan, partners and angel investor financing) and their relevance to the contemporary business practice involving sound ethical practice. (700 words)
LO2: Review the relevant entrepreneurship and small business research literature with a view to write credible, ethical, and informed business plan (transforming) ideas and concepts in a well-argued and supported business case. (950 words)
For LO2 you need to link leadership and management theory (Path-goal Theory, Transactional Leadership and Transformational Leadership) to entrepreneurs. Skills, traits and personalities. (choose one leadership style from the list).
Also, for LO2 when you do research literature make sure you talk briefly about another small cake business in UK how that business started and how they got their finances (briefly).
Layout for business plan for Sumi’s cake:
Summary – outline of the plan. This section I have done for you. You can add or take out anything you do not need for Sumi’s cake business plan. Remember to copy and paste this summary to your completed work. Sumi’s cakes-The business was established 2 years ago. Sumi’s cakes specialise in home-made cakes which specialise in weddings, parties, birthday events, catering etc. Sumi’s cakes use fresh ingredients. It makes the cakes to customer specification. I have been using my own home kitchen, which is very small. However, because of not having big enough facilities and space, Sumi’s cakes have had to turn down orders. Sumi’s cakes are making profit year on year so now is the best time to open a shop. By opening a shop, I can produce larger amounts cake this will enable me to promote the business all over the UK. As I will need capital, I have a few options to raise money. I can apply for a bank loan or I can sell a percentage of the business. To rent a shop out average rent is per month £1300.
- Business Description – Describe the industry, current market trends, future developments
- Marketing strategies – conduct a marketing analysis 7P’s
- Competitive analysis – Conduct a SWOT analysis within your industry
- Design and development of your product or service – Inform investors of what exactly it is you require money for and how you plan on spending the investment
- Operation & Management plan – Explain the physical location, facilities, equipment, human resources, needed to get your product or service off the ground
- Financial factors – Current and or historical financial information, projections, break-even point, set out your expenses, funding requests, exit strategy.
|Date||Time||Event/Topic||Self/Peer Directed Activities|
|Week Commencing 02/11/2020||Marketing and financing to produce a business plan Introduce marketing tools, to support business planning. Finance investment opportunities. Understand the purpose of a business plan and development of a business proposal.|
|Week Commencing 09/11/2020|
|Week Commencing 16/11/2020||Ethics Ethical considerations when considering business ideas.|
|Week Commencing 07/12/2020||Leadership Linking leadership and management theories to entrepreneurs. Skills, traits and personalities|
|End of Semester|
|Mark||General Criteria||Module Assessment Criteria|
|60-69%||Above Average Outcome: Most of the relevant information/skills accurately deployed. Good grasp of theoretical/ conceptual/ practical elements. Good integration of theory/practice/information in pursuit of the assessed work’s objectives.||Good application of a broad range of pertinent business planning principles. The report would show a good grasp of current business concepts and their application for the needs of a new business. Evidence of wider reading and research around the subject area. The business plan would show a good understanding of business analysis and reflective practice along with a clear knowledge of their application in starting a new business context. Good support and critical discussion from the discourse in relation to this analysis will also be applied. Your work demonstrates good Harvard referencing, with some minor errors and draws upon a good range of academic resources. Grammar, spelling and punctuation are of a high standard with a few errors. Work is set out in an appropriate format and is written in an academic style.|
|50-59%||Average Outcome: Much of the relevant information/skills mostly accurately deployed. Adequate grasp of the theoretical/ conceptual/ practical elements. Fair integration of theory/practice/information in pursuit of the assessed work’s objectives.||The application of business planning principles is made with justification and consideration of some pertinent factors but lacks some detail. A grasp of current business concepts is shown. Some evidence of wider reading and research around the subject area but this could have been more in-depth. Some analysis of business practice and reflection on the business context is made alongside a description of the relevant theories but is perhaps anecdotal or not fully informed by the discourse. Your work demonstrates a fair attempt at Harvard referencing, with some errors present, and draws upon an adequate range of academic resources; there was scope to use more academic sources here. Grammar, spelling and punctuation are of an adequate standard with some errors. Work is set out in an appropriate format, with some omissions and an attempt is made to write in an academic style.|
|40-49%||Satisfactory Outcome: No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/ conceptual/ practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work’s objectives.||A limited application of business planning principles is shown with an uncritical consideration or anecdotal justification of a limited number of pertinent factors that also lacks detail. A limited knowledge of current business planning concepts is shown. Some evidence of wider reading and research around the subject area but this could have been more wide reaching. Few up-to-date resources or a lack of peer reviewed work may be shown. Limited analysis of business planning and reflection on the business context is made and a description of the relevant theories may be lacking or is perhaps anecdotal in nature. Work is of a basic standard. Your work demonstrates some attempt at Harvard referencing, with errors present throughout, and draws upon a limited range of academic resources; there was much more scope to use more academic sources here. Grammar, spelling and punctuation are of a satisfactory standard with errors present throughout. An attempt is made to set work out in an appropriate format, but there are omissions. An attempt is made to write in an academic style, however this is limited|
|Below Pass 30-39%||Unsatisfactory Outcome: Knowledge and understanding at limited level; may be errors both in terms of factual knowledge and understanding; expression of ideas not always clear, and argument/discussion weakly structured.||Limited attempt to apply business planning principles to a new business context. Little evidence of knowledge or understanding of participant(s) needs or the new business context. Knowledge and understanding at limited level; may be errors both in terms of factual knowledge and understanding; expression of ideas not always clear, and argument/discussion weakly structured. Very limited or no reference to supporting literature or reflection on business planning. Your work demonstrates limited attempt at Harvard referencing, there are frequent errors present throughout. Your work draws upon a very limited range of academic resources; there was much more scope to use more academic sources here. Grammar, spelling and punctuation are poor with errors present throughout. A limited attempt is made to set work out in an appropriate format, and there are omissions. A limited attempt is made to write in an academic style|