A marking rubric is attached to show clearly the GLO (graduate learning outcomes) expectations and requirements for this assignment; including the marks allocated for each assessment criteria.
The marking rubric assesses 3 main GLO criteria:
- Discipline Specific Knowledge (content of written business plan) - (GLO1)
- Digital Literacy (research skills and use of spreadsheets) - (GLO3)
- Critical Thinking - Analyse and evaluate information to make informed business decisions - (GLO4)
Assignment requirements:
Prepare and submit a written business plan for a 12 month period
- In your written business plan you should communicate how the business will be viable and successful.
- You could target the report to a potential lender, potential supplier, potential distributor, or potential investor for your business.
- You are also required to use Excel spreadsheets to prepare a comprehensive series of budgets/information; from the list on page 5 below.
- The Excel spreadsheets must be attached as an appendix of the written business plan and MUST also be submitted as a separate file. Therefore 2 files in total must be submitted for assignment 2.
Written Business Plan
Objective/ Overview
Drawing on the research and findings you compiled for Assignment 1, the objective of this major assignment is to devise, formulate and write up a comprehensive business plan for a 12 month period, to start and operate a new small business.
The main focus should be the ‘financial projections' for your business. It is expected that students analyse and evaluate the information content of the business plan so that their informed financial decisions are supported. Analysis and evaluation discussion of the key business plan sections, reflects the level of intellectual independence.
Note: you are expected to reflect on the feedback received for the video, and if relevant, you may make changes to some of the plans you discussed in your video.
For this assignment, you are required to remain in the same group of team members formed for your first assignment (Assignment 1). The written business plan has a 3,000 - 4,000 word limit (excluding references and appendices).
The following plan/report template should be used to formulate your business plan however you may include additional information relevant to your business and success strategy. Also included is a guide to the number of words appropriate for each section of the business plan.
Also note: Not all businesses are identical and likewise, not all reports will be the same. The word count provided for each section is a rough guide only, however you must stay within the 3,000-4,000 max word count. A word count of ±10% of max word count range is acceptable.
Template (guide) for your formal Business Plan Report:
1. Title page (not included in word count)
2. Table of Contents (not included in word count)
3. Executive summary (150 words)
a) An overview of the business idea and goals
b) Brief summary of Marketing
c) Brief summary of Operations
d) Brief summary of Finances
- Note this section (especially parts b) to d)) is best done after all other sections of the Business Plan have been completed.
4. Background (250 words)
a) Detailed description of business
b) Business strategy
c) Ownership and legal structure (including justification for ownership structure chosen)
5. Marketing (200 words)
a) Products or services to be offered
b) Target market / customer demographics / competitors
c) Industry Characteristics
d) Promotion and Advertising
6. Operations (300 words)
a) Organisational structure and staffing
b) Regulation considerations
c) Professional advisers
d) Business premises
e) Plant and equipment required
f) Service/Retail processes
g) Key sustainability considerations
7. Financial Projections1 (2,000 - 3,000 words)
a) Financial forecasts/Budgets2 & 3
b) Funding needs 4
*Notes on Financial Projections (for point 7 above):
a. This section should be the main focus of your business plan. You must analyse, evaluate and discuss the budgets and funding needs within the financial projections section of your written business plan. The financial forecasts should be provided for each month and for the 12 month year.
b. You are required to use Excel spreadsheets to prepare a comprehensive series of budgets/information; from the list below.
c. The Excel spreadsheets must be attached as an appendix of the written business plan and MUST also be submitted as a separate file. Therefore 2 files in total must be submitted
d. You may also wish to use excerpts of the spreadsheets within sections of your business plan BUT must also attach the entire spreadsheets in the appendix of the business plan.
e. The following budgets must be provided unless you provide a sound reasoning for omitting it.
o Start-up costs summary
o Sales/Service revenue Budget
- For pricing policy for your goods or services:
- Your business plan must use Cost Volume Profit (CVP) analysis to demonstrate how the Pricing Policy has been determined.
o Purchases Budget
o Cost of Sales OR Cost of Services Budget
o Selling and Administrative expenses budget
o Schedule of ‘expected collections from customers' budget
o Schedule of ‘expected payments for purchases' budget
o Cash budget
o Income Statement budget
o Statement of Financial Position budget (not mandatory).
Note: Excel spreadsheet is not included in the word count.
f. For the ‘Funding Needs' section please discuss:
o The amount and timing of funding requirements
o Why funding is required.
o The funding source (you should assume you will require some form of debt financing for your business)
o Where debt financing (e.g. loans) is concerned also include details of:
- Proposed lenders (for example, ANZ, Westpac, credit union, etc.)
- Terms of the loan.
- Interest rates, borrowing amount, and monthly repayments amounts.
8. Implementation timetable (150 words)
Provide a detailed schedule/timeline of when the activities of the business are expected to be carried out. This should include the tasks required to successfully start up the business and details of any activities/tasks/events to ensure business activities and financial projections are met 12 months into operations.
9. Concluding statements (200 words)
Provide a summary of why you believe the business plan provides information that substantiates the viability of your proposed business.
10. References (not included in word count).
You must correctly use the Harvard style of referencing in this assessment.
Please make sure that you also use appropriate referencing for the in-text citations.
11. Appendices (not included in word count).
Excel spreadsheet printouts to support discussion of budgets in Part 7 ‘Financial Projections' of the Business Plan
Attachment:- How to use excel spreadsheets.rar