Professional Engineering Practice Assignment - Business Planning
Description - A business plan is a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period. It is important to prepare a business plan when starting or growing your business and review it regularly to keep it up to date. In this assignment, you must write a Business Plan, in teams of two, for starting an Engineering-related business of your choice. As part of the Business Plan, you also need to consider Intellectual Property (IP) issues that may affect your product or service. The plan should be of a quality that it can be used potentially for obtaining necessary finance for the business, and can serve as a guide for continuing with the start of the business and its subsequent operations. It should contain the following sections:
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Table 1. Proposed Business Plan sections
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Cover page
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Environmental and Industry Analysis
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Marketing Plan and
Future Directions
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Benefits to the Community
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Table of Contents
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Products and/or Services Planned (Including IP Issues)
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Management Plan
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Critical Risks and Assumptions
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Executive Summary
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Marketing Research and Evaluation
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Financial Plan
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Timeline
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Business Information
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Business Operations Plan
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Exit Strategy
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Appendix
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The appendix should contain a diary of all team meetings (i.e. agenda and minutes) and a personal/team reflection on the completion of the project. Some resources that may be useful in preparing the plan are:
1. The website of Victorian Government that helps business with guides for business plans.
2. The NAB Business Plan [3]; other bank sites also provide assistance on writing business plans.
3. There are several books that provide helpful hints, such as Hatten and Covello and Hazelgren.
Deliverables - On completion of this assignment, you are required to produce two deliverables:
A Business Plan Report: The report should adhere to the following guidelines:
- Teams of two. Approximately 2500 words. It must follow the standard academic report format with correct usages of vocabularies, grammar, and language. Paraphrase, i.e. use your own words. Do not copy or cut and paste information from sources. References must follow the IEEE referencing style. Provide in-text references for every source of information and a reference list at the end of your report.
- Individuals must indicate which sections they were responsible for in the team report by marking their initials in the Contents Page next to their section(s) and indicate the overall editor(s).
Oral Presentation (15 minutes): You need to develop and present a set of Power Point slides that may be used to present the business plan to an examining audience during your Tutorial group in Week 12. Each team member must participate in the oral presentation.
Desired Learning Outcomes - On successful completion of this assignment, you will have the knowledge and skills to:
1. Investigate and analyse intellectual property matters affecting the engineering profession;
2. Compare business types, appraise regulatory requirements of starting a business and create a business plan with emphasis on securing funding;
Attachment:- Assignment File.rar