Nature Of Business - Empowering Assessment Answer

Assignment Task:

Outcomes:

P1 Discuss the nature of the business, its role in society and types of business structures
P2 Explains the internal and external influences on businesses
P3 Describes the factors contributing to the success or failure of small to medium enterprises    
P6 Analyse the responsibilities of businesses to internal and external stakeholders
P7 Plans and conducts investigations into contemporary business issues
P8 Evaluates information for actual and hypothetical business situations
P9 Communicates business information and issues in appropriate formats

Task Description:

Analyze the internal and external influences leading to the decline in your chosen business case study. Recommend alternatives or further actions that the business could make (or could have made) to reduce its decline.

For this assessment task, you are required to choose a business that has either closed or in liquidation/ administration as the focus for the task.
Relevant businesses include:

• Bardot
• Curious Planet
• EB Games
• BigW
• Jeanswest
• Harris Scarfe
• George Calombaris’ restaurants
• Other – consult with your teacher

Steps:
Collect at least THREE media articles or other supporting information about the business chosen and the reasons why it closed/or is in difficulty. 
Analyze your media articles to identify the key influences that lead to the businesses decline (refer to your notes and the syllabus for the list of influences).
Write a report describing the nature of the business, the influences that lead to its decline and suggestions for improvement.
Your report should use the following headings/scaffold.

Main Heading – Name of the task, the business studied, your name

Executive Summary
This section is like an introduction. Demonstrate your understanding of the question without re-writing the question. State what the main parts of the report are and briefly introduce the case study and the influences which will be discussed. Overview of your main recommendation(s).

This section is the easiest written last but always presented at the beginning of the report.

Business Overview
In one paragraph summarise the nature of the business case study chosen. Include some or all of the following:

1. Business description – prime function, industry sector (primary, secondary, etc)
2. Legal Structure
3. Key owners/mangers
4. Main products/services/brands
5. Business size – number of employees, stores, geographic spread, etc

Key Influences leading to Business Decline
Include an introduction to the broad nature of business influences. Define internal and external influences and state which particular influences are most relevant to your case study.

External Influences
Using specific information from your case study, explain how TWO external influences have impacted (affected) the business. Present your information in TWO paragraphs or use two subheadings with a paragraph under each.

Internal Influences
Using specific information from your case study, explain how TWO internal influences have impacted (affected) the business. Present your information in TWO paragraphs or use two subheadings with a paragraph under each.

Recommendations
Take on the administrator/liquidator’s role to write this section. Recommend TWO changes the business could make to renew the business and make it profitable again.

When writing a business report the focus should be on clarity and concise expression.
NEVER use personal pronouns (I, we, they, etc)

Students are encouraged to submit one draft for this task. The draft can be submitted in parts or in its entirety. Drafts must be submitted AT A MINIMUM 3 days before the due date to allow adequate time for teacher feedback and editing.

Reflection

The following reflection questions must be answered on CANVAS on receipt of the task and upon submission of the task.

Questions to answer when the task is received and explained:

• Do I fully understand the question and report scaffold? 
• Do I understand all parts of the marking rubric?
• What are my goals for this assignment?  

Questions to answer when the task is submitted:
•Am I satisfied that I did my best on my final product?
•What problems did you encounter while you were working on this assignment?
•What would you change if you had a chance to do this task over again?

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