Abd704 Business Project And Assessment Answer

Nature, focus and scope of the business

Describe your business idea by identifying each of the following:

a)The product and/or service to be offered.
b)The industry it will operate in.
c)The potential target market.
d)The current or likely position in the industry lifecycle.
e)The window of opportunity.

Collect and present data to validate the commercial viability of your business idea by:
a)Describing the data type(s) and the collection method(s) used.
b)Presenting your findings and discussing how they validate your idea.

Organisational vision, goals and structure

Identify the key internal and external stakeholders of your proposed business, and describe their value expectations.

Based on the stakeholder expectations you identified in Q2.1, develop the philosophy of your proposed business by stating each of the following:

a)Mission statement.
b)Purpose statement.
c)Vision statement.
d)Core values.

Suggest an appropriate organisational structure for your proposed business.

Assess the potential of the organisational structure you suggested in Q2.5 to meet the organisational goals stated in Q2.3.

Based on the organisational structure you suggested in Q2.5:

a)Identify any gaps in the required management skill, capability, or competency.
b)Suggest appropriate ways to fill these identified gaps.

Business environment, key success factors and competitive advantage

Perform a PESTLE analysis to critically analyse the potential impact and implications of the external macro environment on your proposed business venture.

Perform a Porter’s Five Forces analysis to critically analyse the potential impact and implications of the external micro environment on your proposed business venture.

Based on the findings of the external environment analyses that you conducted in Q3.1 and Q3.2, perform the following tasks:

a)Evaluate and justify the market viability of your business idea/opportunity.
b)Identify and justify industry key success factors.

Analyse the value of the key benefits your target customers are likely to derive from your proposed business offering.

Analyse the potential impact and implications of your proposed organisation’s internal environment by assessing its resource strengths and weaknesses. These strengths and weaknesses may include, but are not limited to, any of the following:

Based on your analyses in Q5.1, Q5.2, and Q5.3, provide an analysis and justification for how the required resources and/or funds will be used and how this usage will be consistent with your proposed business’s structures and procedures.

Business and growth strategies

Assess the business strategies and growth strategies you analysed in Q6.1 and Q6.2, for their potential to meet your proposed business’s organisational vision and goals. Based on this assessment, select one (1) business strategy and one (1) growth strategy that your organisation will pursue.

Functional strategies and plans

Present an analysis which identifies and develops marketing objectives and strategies for your proposed business.

Based on the marketing objectives and strategies you developed in Q7.1, create a marketing mix and positioning plan for your proposed business.

Present an analysis which identifies operational objectives and strategies for your proposed business.

Based on the operational objectives and strategies you developed in Q7.3, create an operational plan for your proposed business.

Present an analysis which identifies human resource and staffing objectives and strategies for your proposed business.

Based on the human resource and staffing objectives and strategies you developed in Q7.5, create an HR plan for your proposed business.

Present an analysis which identifies financial objectives and strategies for your proposed business. 

Based on the financial objectives and strategies that you identified in Q7.7, create a financial plan for your proposed business that includes all of the following:

a)Capital requirements and funding proposals.
b)Financial assumptions.
c)Profit and loss forecast.
d)Cashflow forecast.
e)Balance sheet forecast.
f)Capital expenditure budget.
g)Breakeven analysis.
h)Other relevant elements (if any).

Risk and control management

Using an advanced technical analysis of key assumptions that you have used in your business model:

a)Identify potential risks.
b)Provide risk and control management mechanisms and plans that ensure successful running of the business. Performance evaluation and strategic exit

Present an analysis which establishes each of the following performance related elements for your proposed business:

a)Key Performance Areas.
b)Key Performance Indicators.
c)Performance milestones.

Based on the KPAs, KPIs, and performance milestones established in Q9.1:

a)Develop performance evaluation, monitoring and control mechanisms and plans that will be implemented.

b)Formulate and analyse options and plans for strategic exit.