Learning outcome

Evidence

(Page no)

Understand ways of researching and analysing a market

Be able to apply analytical tools when assessing the feasibility of a business proposal

Be able to participate in formal business meetings

Be able to participate in a group business pitch using verbal and visual methods

Student signature:                                                                                   Date:

In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades

Grade Descriptor

Indicative characteristic/s

Contextualisation

Identify and apply strategies to find appropriate solutions

An effective approach to research has been applied.

To achieve M1, you will have made effective judgements on the feasibility of a business idea through market research and the use of relevant analytical tools.

(Assessment 1 – Individual Business Proposal & Assessment 2 – Group Presentation)

Select / design and apply appropriate methods / techniques

(Assessment 1 – Individual Business Proposal & Assessment 2 – Group Presentation)

Present and communicate appropriate findings

(Assessment 1 – Individual Business Proposal & Assessment 2 – Group Presentation)

Use critical reflection to evaluate own work and justify valid conclusions

Critical reflection of work produced has been demonstrated.

You will have provided a critical evaluation, both self-reflection and peer evaluation, of the work produced and you will also have identified an action plan on the basis of this evaluation. (Assessment 3 – Individual Reflective Task)

Take responsibility for managing and organising activities

(Assessment 1 – Individual Business Proposal, Assessment 2 – Group Presentation & Assessment 3 – Individual Reflective Task)

Demonstrate convergent/lateral/creative thinking

(Assessment 1 – Individual Business Proposal & Assessment 2 – Group Presentation)

The purpose of this assignment is to develop learners’ understanding of the concepts and skills involved in the development and implementation of a business idea through market research, data analysis and the practical application of relevant theories.

Scenario or context:

This is a broad-based unit which focuses on the application of business concepts in a practical context. Learners will understand the academic and business skills involved in researching a market, analysing data and making informed decisions. In this unit, learners will consolidate understanding of the concepts developed in units 1 – 4, for example management and leadership theories and the elements of the marketing mix.

Firstly, learners will be required to develop a business idea by identifying a gap in the market. Through this process, learners will practise and further develop skills in market research and data analysis. Learners will then consider the market environment for their chosen product/service using a variety of business tools, for example, PESTEL analysis and Porter’s Five Forces. Click Here 

Next, learners will understand how to critically evaluate a number of business ideas in a formal context and assess their feasibility. Learners will also, therefore, develop an understanding of how to conduct a business meeting, in addition to enhancing communication and debating skills. Finally, learners will consider the elements of the marketing mix and prepare a pitch for their chosen business idea.

Task 1 ( LO 1: 1.1, 1.2, 1.3; LO2: 2.1, 2.2, 2.3; LO3: 3.3 and M1, M2, M3,  D1, D2, D3)

Individual business proposal                                             (deadline 15^th May 2015 via Turnitin)

Students shall prepare a written report discussing the feasibility of a business idea – this unit leads on from Unit 2 so students should use the same business idea as in Unit 2 Managing Financial Resources & Decisions. Students will be given an outline to guide them in the completion of this assessment.

The proposal shall consist of:

·         Description of a product or service

·         Aims and objectives of the chosen product/service

·         Rationale for the product/service chosen

·         Market analysis (competitors, prices, consumers, opportunity)

·         Marketing plan

·         Conclusion and recommendations

To achieve M1, you will have made effective judgements on the feasibility of a business idea through market research and the use of relevant analytical tools.

To achieve M2, you will have selected appropriate business tools to analyse the macro- and micro-environment relevant to your business idea. You will also have identified an appropriate target market and subsequently designed a marketing plan for your product/service.

To achieve M3, the written work you present will be in an appropriate format with correct use of sources and coherent, well-structured paragraphs. Your presentation will demonstrate effective communication, both verbal and visual, in an appropriate format.

To achieve D1, you will have drawn conclusions regarding the feasibility of your business idea through effective analysis of the strengths and weaknesses of your product/service. You will have made recommendations based on the conclusions drawn.

To achieve D2, you will have demonstrated an effective approach to both independent study and group work. You will have met the submission deadlines and achieved the unit assessment criteria.

To achieve D3, you will have demonstrated clear ideas and generated conclusions and recommendations which demonstrate analytical skills and creative thinking.

Task 2  (LO 2: 2.4; LO3: 3.1, 3.2; LO4: 4.1, 4.2, 4.3 and M1, M2, M3, D2, D3)

Group presentation: business pitch        (deadline for submission of presentation slides – 22^nd May 2015 via Turnitin)

Students shall work in groups of 3 or 4 (depending on class size) and participate in a formal business meeting. Each student will present his/her business idea to the group (based on the research carried out in the completion of Assessment 1) and a vote will take place, selecting the most feasible business idea. The group will then prepare a 15-20 minute group presentation outlining the chosen business idea.

The group presentation shall consist of:

·         Analysis of the choice of the business idea (previously selected at a formal business meeting)

·         Pitch of the business idea (aided by use of PowerPoint presentation, advertising material and/or promotional video)

·         Response to questions from the ‘investors’

To achieve M1, you will have made effective judgements on the feasibility of a business idea through market research and the use of relevant analytical tools.

To achieve M3, your presentation will demonstrate effective communication, both verbal and visual, in an appropriate format.

To achieve D2, you will have demonstrated an effective approach to both independent study and group work. You will have met the submission deadlines and achieved the unit assessment criteria.

To achieve D3, you will have demonstrated clear ideas and generated conclusions and recommendations which demonstrate analytical skills and creative thinking.

Individual reflective task                                       (deadline 22^nd May 2015 via Turnitin)

Students shall prepare a report on the completion of the group presentation task. Students will be given a template to guide them in the completion of this task.

The reflective task shall consist of:

·         Description of student’s role in the group

·         Evaluation of group performance

·         Critical self-reflection

·         Peer evaluation

·         Future action

To achieve D1, You will have provided a critical evaluation, both self-reflection and peer evaluation, of the work produced and you will also have identified an action plan on the basis of this evaluation.

To achieve D2, you will have demonstrated an effective approach to both independent study and group work. You will have met the submission deadlines and achieved the unit assessment criteria.

Sources of information:

 Core textbooks:

Hall, D., Chambers, I., & Gray, D., 2008. Business studies: AS level, AQA.4th ed. Harlow: Pearson Education.

Boddy, D., and Paton, S., 2011. Management: An introduction.5th ed. Harlow: Financial Times Prentice Hall. 

Other sources:

Websites

·         Times 100 Business case studies website:

Journals

·         The Economist (The Economist Newspaper Group Inc)

Newspapers

·         Financial Times

·         The Guardian/The Independent/The Times – business pages

visit now : BTEC HND in Business Assignment

Qualification

Assessor name

Sarah Dye

Unit Number and title

Student name

(tick)

1.1

2.1

2.2

3.1

3.2

3.3

4.1

4.2

4.3

(tick)

(tick)

M3: Present and communicate appropriate findings

Formative feedback 1 (draft assessment 1 – Individual Business Proposal – submission week 5)

General comments:

Pass Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

1.1 conduct market research through the use of appropriate online resources

1.2 evaluate current trends in a market

1.3 analyse the strengths and weaknesses of a potential product/service

2.1 analyse the macro-environment through the use of a PESTEL analysis

2.2 select a target market for a specific business proposal through the process of market segmentation

2.3 analyse the micro-environment for this proposal through the use of the Porter’s Five Forces

3.3 present a business proposal at a meeting

Merit Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

To achieve M1, you will have made effective judgements on the feasibility of a business idea through market research and the use of relevant analytical tools.

To achieve M2, you will have selected appropriate business tools to analyse the macro- and micro-environment relevant to your business idea. You will also have identified an appropriate target market and subsequently designed a marketing plan for your product/service.

To achieve M3, the written work you present will be in an appropriate format with correct use of sources and coherent, well-structured paragraphs.

Distinction Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

To achieve D1, you will have drawn conclusions regarding the feasibility of your business idea through effective analysis of the strengths and weaknesses of your product/service. You will have made recommendations based on the conclusions drawn.

To achieve D2, you will have demonstrated an effective approach to both independent study and group work. You will have met the submission deadlines and achieved the unit assessment criteria

To achieve D3, you will have demonstrated clear ideas and generated conclusions and recommendations which demonstrate analytical skills and creative thinking.

Formative feedback 2 (draft assessment 2 – Group Presentation – submission week 7)

Pass Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

2.4 select a robust business proposal based on research and analysis

3.1 document a formal business meeting effectively, including pre and post meeting communications

3.2 participate effectively in a business meeting

4.1 demonstrate effective team working and time management skills in preparation for the pitch

4.2 communicate effectively in a formal presentation, both verbally and visually

4.3 use language of persuasion effectively

Merit Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

To achieve M1, you will have made effective judgements on the feasibility of a business idea through market research and the use of relevant analytical tools.

To achieve M3, your presentation will demonstrate effective communication, both verbal and visual, in an appropriate format.

Distinction Criteria (tutor to indicate whether the criteria has been achieved/partially achieved/not achieved & action to be taken)

To achieve D2, you will have demonstrated an effective approach to both independent study and group work. You will have met the submission deadlines and achieved the unit assessment criteria.

To achieve D3, you will have demonstrated clear ideas and generated conclusions and recommendations which demonstrate analytical skills and creative thinking.