Recent Question/Assignment

Assessment Cover Sheet
LECTURE ASSESSMENT
BSBSMB301 Investigate micro business opportunities
BSB42618 Certificate IV in New Small Business
Student Name:
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Student ID Number:
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Assessors Name:
Assessment Due:
Week 7 Submission Date:
Assessment Tasks Satisfactory Not Yet Satisfactory Did Not Submit
Lecture Assessment - Portfolio ? ? ?
Feedback to Students:
ASSESSOR’S DECLARATION:
I hereby certify that the above student has been assessed by myself and all assessments are carried out as per the Academy’s Assessment Policy & Procedure.
I declare that the student’s work evidence is current, authentic, valid and sufficient
ASSESSOR SIGNATURE ____________________________ Date: ______________
Student’s signature

Assessment Submission rules and conditions
Read all the instructions below before attempting the assessment task. Assessment tasks are tools used to determine if you have the knowledge and skills to complete tasks to industry standards within the workplace. Your trainer/assessor will help you throughout this task and it is your responsibility to provide enough evidence to justify a competent decision by the trainer/assessor. If you do not understand the questions or what is required, ask your trainer/assessor for assistance.
• For group assessments, all students are to contribute to the assessment tasks. You must work in groups when the assessment is required and when that is the case you will be allocated in to groups by your trainer in the class; hence your active presence is necessary
• Role play/presentation if part of the assessment must be done by all students. Photos or video may be taken as part of the evidence.
You are to complete all tasks by the due date and assessments must have a coversheet attached. Online submission opens one week prior to the due week and cut-off date is set on Saturday at 11:55pm in the week of due date. If you think you do not have enough time to complete the tasks by the due date, discuss with the trainer/assessor the reasons of why you cannot submit on time. Assessment tasks submitted late may not be accepted by your trainer/assessor, leaving the learner with a Did Not Submit (DNS) result.
Writing your responses
When answering questions, ensure that your answers are detailed enough so the assessor can draw a conclusion that you have the knowledge and/or skills to demonstrate competency. When producing reports, please make sure that your project has the following complete information:
A Title Page, Table of Contents, Page Numbers, Reference List, ensuring that your answers thoroughly match the questions asked.
Answer all questions in your own words to avoid plagiarism.
Plagiarism/ Academic Misconduct
Plagiarism by a student will result in an automatic ‘NYS’, and as well as being recorded, may result in further disciplinary action such as a student’s exclusion from a course. Plagiarism is presenting and using someone else’s work, writings or ideas as your own with or without their consent.
Some examples of plagiarism as follows
• Presenting work by another individual as one’s own unintentionally
• Handing in assessments markedly similar to or copied from another student
• Handing in assessments without the sufficient acknowledgement of sources used, including assessments taken totally or in part from the Internet
Academic misconduct is a serious matter and any breach of misconduct will be treated seriously as per the Policy of the organisation. Impersonating or allowing another individual to impersonate you, for the purpose of completing an assessment or presentation is considered a fraud.
Marking of Assessments
On submission of your assessment it will be marked for a result of either Satisfactory (S) or Not Yet Satisfactory (NYS). If you receive a NYS result, you will be asked to redo the tasks again. To achieve a competent result with this unit, all tasks need to be completed and marked as satisfactory. Your trainer/assessor will provide feedback to you on each task, outlining where you must improve to achieve a Satisfactory (S) result. When all tasks are marked as Satisfactory (S), you will receive a result of Competent (C) for this unit otherwise, you will be marked Not Yet Competent (NYC). Assessments submitted to the trainer/assessor after the due date may not be accepted, and you may have to a resubmission fee.
Assessment appeals
Appeal process - If you feel the decision made by your assessor was incorrect please refer to your Student Handbook for information on assessment appeals for the required steps to appeal this decision. Download the assessment you want to appeal and complete the appeal box in Feedback Evaluation Sheet by signing as to whether you wish to appeal. You are required to hand the hard copy in to student services.
Submission requirements
If an assessment is not submitted in accordance with the submission requirements, then it will be deemed as being non-compliant. Non-compliant submissions result in pending on being marked and /or recorded NYS.
• All submissions must be done by PDF file. The Student is required to convert word file assessments, PowerPoint presentation and other attachments to PDF before submitting unless the evidence is required to submit its original format (eg. word or excel).
• The first page in the file must be cover page. Both the cover page must contain student name and student number.
• The Student is allowed by default to upload up to five documents on each submission. You must upload each file separately. You must not upload zip file.
• Submissions from overseas are not allowed as students are required to be in Australia to attend their regular classes.
Name……………………………………………… Student ID...............................................
Signed ……………………………………………. Date …………………………………….
APPEAL PROCESS:
I would like to appeal the outcome of this assessment as per the appeals procedure in the Student Handbook
Student’s signature: _______________________ Date: __________________

Introduction
This assessment will gather evidence of your competence to:
• consider the major elements of a business idea
• undertake research to determine viability of the business opportunity
• interpret the requirements of relevant legislative frameworks
• present the idea.
Before you begin this assessment, you must spend some time identifying a primary idea for a micro business that you will research. Ideally, this will be a micro business idea that you want to implement in the future. In this assessment, you will research your idea and consider the feasibility of bringing your idea to fruition. You should discuss your initial idea with your trainer/assessor for feedback about whether your business idea is appropriate for this assessment.
You will need to research customers, markets, trends, technology, finance and resource requirements. Your trainer/assessor will help you decide if your initial business idea has sufficient scope for you to meet the assessment requirements. Once you have your initial idea firmly in mind, you can commence the assessment activities detailed below.
Instructions
Follow the instructions below to create a portfolio that you must submit for assessment. Use the portfolio checklist at Appendix A to confirm that you have included all of the necessary
1. Write a brief summary of the micro business idea that you will research. You can use a dot point list to summarise the key points.
Your summary must:
• clearly describe the idea
Franchise café shop (Soul origin)
• identify reasons why this idea appeals to you
Even with more attention being paid to healthier living, the idea to open the franchise café shop (Soul origin) because everyone like to have some nice coffee and enjoy a nice breakfast before they go to work every morning or have a quick lunch in the break time. Franchise shop can receive the advice and support from official company.
• explain your initial thoughts about who your customers will be (age, occupation, income levels, geographic location)
• identify methods you could use to market your idea
• list key factors that you need to research (think about finance, work force, technology, business and technical skills.
2. You must gather information for your business idea. This involves undertaking research using primary and secondary sources.
The factors that you need to research will vary depending on your original idea; they could include:
• gap in the market
• marketing methods
• potential customers
• relevant technology
• finance
• human resources
• licences and regulations
• competitors
• economy
• equipment and resources.
Use the table below to record the various sources you used to gather information about your potential micro business.
Business factor Information source Useful for
Gap in the market
Marketing methods
Potential customers
Technology
Finance
Human resources
Licences and regulations
Competitors
Economy
Equipment and resources
3. Evaluate what that you learnt while conducting research. Did your research lead you to think about alternatives to your original idea?
Write a brief summary of alternative ideas that you have identified. In your summary you must:
• outline the key points of each alternative
• advantages and disadvantages of the alternatives
• your decision about how whether you will stay with your original idea, modify it or proceed with one of the alternatives.
You may use dot points for your summary.
4. You must conduct research to gather information about your business’ potential customers.
Use a variety of primary and secondary research methods, including:
• surveys
• focus groups
• Internet sources
• observation
• journals, books and magazines
• trusted personal sources including mentors.
The type of customer information you need to gather will vary to reflect your specific micro business idea; for example, you may need to learn about:
• Customer demographics (age, location, technology use, occupation, hobbies and interests, education level, income)
• Purchasing:
o current suppliers
o product preferences
o frequency
o volumes
o feedback about competitors
o sales channel (instore, online, wholesale).
Write a short report (approximately 250 words) that summarises your research methodology and what you learned about your potential customers.
Your report must clearly describe your unique selling proposition.
You must include an appropriately formatted reference list with your short report.
5. You must now carefully evaluate your research to confirm your micro business idea. Use the table below to record the various products and/or services that your business will offer to match your final idea.
Product and service offering
Summary of my final idea:
Customers
Distribution
Resources
Product and/or service offering (List product and services to match your business idea):
6. Reflect on the information you have gathered to complete table XXX. Before proceeding with your idea, it is important that you evaluate whether you have the skills that are needed to bring your business idea to fruition and then to maintain and grow the business.
Complete the self-evaluation table by reflecting on your current skill levels. You should talk to your peers, mentor, trainer/assessor and wider network for feedback before you complete the table.
The first ‘skills required’ has been completed as an example.
Skill area Skills required Self evaluation
Financial Prepare budget
Write a business plan
Taxation reporting I have no experience preparing a budget other than the family household budget
Digital/technology
Business
Technical
Legislation & regulations
Marketing
Business analysis
Portfolio part 2: Research the market
7. Research potential competitors for your micro business to complete the table below.
List at least 2 competitors in the table below.
Competitor Established date Size Market share (%) Value to customers Strengths Weaknesses
[Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers. E.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?]
[Competitor name] [When were they established?] [Number of staff and/or turnover] [Estimated percentage of market share] [Unique value to customers. E.g. convenience, quality, price or service?] [What are your competitor's main strengths?] [What are your competitor's main weaknesses?]
8. You must conduct research to gather information about:
• current market size
• market trends and developments
• potential market size
• features of new and emerging markets.
Prepare for your research by listing the focus questions that you want to answer.
Use a variety of primary and secondary sources.
You must summarise your findings and the sources that you used for research. You must summarise your findings for each of the items in the list above. Include your research focus questions in your submission.
Your findings may be presented in a table or dot point list.
Approximately 200 words.
Primary Secondary
9. What are the ethical and cultural factors impacting your market?
10. Research the factors in your external environment to forecast the potential impact on your micro business. A list of factors that you need to research are listed in column A in the following table. In your next task in this assessment, you will reflect on the information you have gathered and summarised on the table to complete a Strength, Weakness, Opportunities and Threats analysis.
Research the factors on the following list to complete the table. You must also explain the likely impact on the micro business and note your sources.
Factors:
• population
• economic activity
• technology
• cultural and social trends
• political and legal issues
• labour force.
Factor Projected change or movement Potential impact on business idea Information source
(reference)
Population
Economy
Technology
Cultural and social trends
Political and legal issues
Labour force
11. Create a simple spreadsheet to record the details of the various resources you will need to establish and launch your micro business idea.
You can format your spreadsheet in whichever way best suits your needs. A sample is provided below.
You must list multiple potential suppliers for each resource.
You must be able to filter the data to identify the preferred supplier and to calculate your costs.
Submit the spreadsheet and your analysis for assessment.
Appendix A: Portfolio checklist
Use the following assessment checklist to confirm that your assessment submission includes all of the required components.
Assessment checklist
Summary micro business idea 0
Information sources table 0
Alternative ideas table 0
Customer research 0
Product & service offering 0
Self-evaluation checklist 0
Competitor details table 0
Research findings short report 0
Ethical and cultural requirements 0
Projected changes table 0
Analysis of spreadsheet 0

Lecture Assessment
Feedback Evaluation Sheet
STUDENT NAME: STUDENT NO:
ASSESSOR’S NAME: DATE:
UNIT NAME: BSBSMB301 Investigate micro business opportunities
In this assessment, the student has to demonstrate their ability to:
YES NO
• Gather information for business ideas from appropriate sources ? ?
• List details of business ideas and opportunities ? ?
• Research alternative business ideas in light of available resources ? ?
• Specify and list products and services to match business ideas ? ?
• Identify and research potential customer information for business ideas ? ?
• Identify and take into account available financial, digital technology, business and technical skills when researching business opportunities ? ?
• Collect information regarding market size and potential from appropriate sources ? ?
• Investigate market trends and developments to identify market needs relative to business ideas ? ?
• Gather market information from primary and secondary sources to identify possible market needs in relation to business ideas ? ?
• Identify ethical and cultural requirements of the market, and their relevance for business ideas ? ?
• Identify new and emerging markets and document their features ? ?
• Identify and organise information on expected market growth or decline and associated risk factors ? ?
• Identify projected changes in population, economic activity and labour force that may impact business ideas ? ?
• Review trends and developments and identify their potential impact on business ideas ? ?
Research and analyse information from a range of sources to investigate a business opportunity, including:
financial considerations
digital technologies
market size, potential and trends
ethical and cultural requirements of the market
• resource availability ? ?
• Review data for potential impact on the market, products, services and customers ? ?
• Match products and services to the business opportunity. ? ?
• Analyses and evaluates textual information to develop research strategies, integrate facts and ideas and meet business requirements ? ?
• Uses factual information and industry related terminology to complete required documentation ? ?
• Clearly articulates requests using specific and relevant language, and uses listening and questioning techniques to confirm understanding ? ?
• Extracts, evaluates and compares numerical information to determine resources and identify trends ? ?
• Identifies changes to processes, products or services within scope of own business opportunities
• May invest time in developing and shaping several options before making a final choice, using a combination of lateral and analytical thinking to tailor and strengthen an idea to suit needs, resources and constraints
• Uses a range of digitally based technology and applications to access and filter data, and then extract, organise, integrate and share relevant information in increasingly effective ways. ? ?
• Locate and outline legislation and regulation relevant to specific micro business opportunities being investigated ? ?
• Identify sources of specialist advice on trends in new and emerging markets and decline and risk factors ? ?
• Summarise benefits and challenges of digital technologies relevant to micro business opportunities ? ?
• Describe appropriate business research methods and data collection tools and software. ? ?