Recent Question/Assignment

For this assignment, you will work in a group of four. Evaluate each other’s business idea from Assignment 2 and finalise one for this project. Follow the instructions in the “Business Plan Template” (available as a separate Word document) to complete this project.
Note: All group needs to ensure that each member contributes to the group effort in a fair manner. You will be using Sparkplus to rate each other two times during this assignment (After submitting a Group Charter and after submitting the report). Each member will generally receive the same mark, except in a situation where there is an unequal contribution by one or more team members. In such instance, if a group member request for peerassessment, all members of the group must participate in that assessment. For any issues regarding the group, inform the subject co-ordinator at the earliest possible time.
Specification:
Weight: 40%
Length: 5,000 – 9,000 words
Type: Group (group and individually assessed) Submission: Online via Turnitin
(only one group member to submit ONCE only)
Late Submission: 10% per day
Due: 11:59 PM, Friday, 21st May 2021
Tasks for Assessment Task 3
Follow the marking guidelines below while completing each task.
Tasks Description Word limit / Guideline Marks
1 Executive Summary 300 – 500 words 1
2 Business Summary 300 – 500 words 1
3 The Market 600 – 1,000 words 3
4 Customer Analysis and Value Proposition 700 – 1,200 words 4
5 Development and Design 500 – 1,000 words 5
6 Operational Plan 700 – 1,200 words 7
7 People and Structure 500 – 1,000 words 5
8 Marketing Plan 800 – 1,400 words 6
9 Financial Plan 300 – 600 words 4
10 Implementation Plan 300 – 600 words 4
TOTAL 40
Note: Tables and diagrams or pictures are not counted towards the word limit.
UTS Marking Schema
HD Work of outstanding quality on all objectives
D Work of superior quality on all objectives
C Work of good quality showing more than satisfactory achievement on all objectives
P Work showing a satisfactory achievement on all objectives
X Work showing an unsatisfactory achievement on one or more objectives
Assignment 3 - Business Plan Marking Guidelines
PASS DISTINCTION*
1. Exec utive Su mmary
? Summary reflects key attributes of the business proposal. ? Succinct yet complete coverage of the business plan.
2. Busi ness Su mmary
2.1
?
2.2
?
? Clear legal structure and reasons for choosing a particular one.
Good summary of proposed product or service.
Clear explanation of company’s mission.
2.1
?
2.2
?
Good articulation on why the selected structure is appropriate for the proposed business.
The proposed product or service has a clear focus and is fit for purpose.
3. The Mar ket
3.1
?
?
3.2
?
?
?
3.3
?
?
3.4
?
? Good description of the market’s maturity level
Identified relevant market attributes including profitability and its volatility.
Clear analysis of the most relevant force from Porter’s model.
Identified competitive factors affecting the proposed business.
Identified the competitive advantages of existing companies in the market, from reliable sources.
Relevant information in each factor of PESTLE analysis
Supported with reliable sources
Identified market size from appropriate sources.
Clear estimation of projected market share with reasons. 3.1
?
3.2
?
?
3.3
?
?
3.4
? Demonstrated in-depth understanding of the market, supported by well-integrated reputable sources.
Clear articulation of how market forces connect the existing companies in the market and the proposed business.
Supported by well-integrated reputable sources.
Well-argued synthesis of multiple (i.e. conflicting) sources.
Cogent explanation of how the factors impact a new market entrant.
Demonstrated in-depth understanding of the market, supported by well-integrated reputable sources.
4. Customer Analysis and Value Proposition
4.1
?
?
4.2
?
?
4.3
?
? Clear explanation of the type of customers the business is targeting.
Statement of existing problem or opportunity
Identified prospective customers’ needs that the proposed product or service should fulfil.
Supported with appropriate evidence.
Clearly identified core value (to customers) of the proposed product or service.
Sufficient detail to contrast with other products/services available in the market.
4.1
?
4.2
?
?
4.3
?
? Good formal problem definition or opportunity justification.
Thoughtful selection of sources appropriate for your target market.
Appropriate consideration of how the presented voice of customer data relates to the market segment(s) chosen in task 8.1.
Appropriate evidence of competing product/service value propositions.
Points of parity and points of difference clearly identified.
5. Development a nd Design
5.1
?
?
5.2
?
?
? Clearly identified the minimum set of features expected by customers.
Good understanding of potential customers.
Detailed definition of the product or service.
Appropriate design artefact (service location layout, product schematic, data flow diagram, etc.) to show how the product or service will work.
For any diagrams presented, a draft is included in Appendix A.
5.1
?
?
5.2
?
?
Appropriate evidence of what features customers would expect.
Comparison with a key competitor’s features
Clear, detailed and well thought-out design.
Compelling explanation of the proposal’s feasibility.
6. Operational Plan
6.1
?
?
6.2
?
?
?
6.3
?
?
6.4
?
?
6.5
?
?
?
6.6
?
? Clear explanation of how value that customers are willing to pay for is to be created by the business.
Identified clearly whether customers will interact with the main value-creating process of the company, and if so, how?
A detailed diagram which shows the core value creation process.
Clear demonstration of how customers will interface with the process.
For any diagrams presented, a draft is included in Appendix A.
Clear explanation of how the internal operation of the business will take place.
Clear listing of processes that need to take place.
Clearly identified physical location(s) to run the proposed business.
Good explanation of the choice to lease or purchase property.
Identification of relevant suppliers/partners for the business.
Clearly identified the purpose of each supplier/partner.
Identified type of contractual relationships with each supplier/partner.
Clearly identified activities which will be outsourced, with supporting arguments.
Explained the business’ policy on outsourcing.
6.1
?
?
6.2
?
?
?
6.3
?
?
6.4
?
?
6.5
?
?
6.6
?
? Concise explanation of how the core offering is to be created by the proposed business.
Good understanding of which parts of the business customers will/will not interact with.
Good Logic, Syntax and Presentation.
The details included in the diagram convey useful information.
Thoughtful scaling and timeframe throughout the model.
Comprehensive view presented of how the business will work internally.
Identified the most important supportprocesses that will be needed to keep the core of the business running.
Detailed analysis of how much space will be required for various activities.
Supported with current market prices from appropriate sources.
Good explanation for why each supplier/partner was chosen.
Supported from appropriate sources.
Good arguments presented for outsourcing
particular activities in the proposed business.
Thoughtful outsourcing policy supported by appropriate evidence/literature.
7. People and Structure
7.1
?
7.2
?
?
?
7.3
?
Appropriate level of detail on the duties and responsibility of each key, ongoing roles.
Identified the labour force (FTEs) requirements necessary to operate the business (linked to the roles in Task 7.1).
Relevant details of the required skills, qualifications and training.
Provide an estimate of the pay required for the employees.
Appropriate ESN diagram for the proposed business with details. 7.1
?
?
7.2
?
?
?
7.3
? Good explanation, linked to Tasks 6.1 and 6.3, of situations which will require the interaction of multiple roles.
Clear distinction between core operations, management, support and techno-structure roles.
Supported by contrasting with the labour force of key competitors (or other companies in a similar industry).
Identified if any roles have specific regulatory requirements.
Supported with current market rates from appropriate sources.
Diagram clearly presents the key roles and interactions required for the proposed business.
8. Marketing Plan
8.1
?
?
8.2
?
?
?
8.3
?
? Clearly identified specific market segments with appropriate reasons.
Clear rationale for each targeted market segment.
Appropriate customer profile for each target group with relevant details.
Supported by appropriate sources.
Clear strategy for reaching each group.
Clearly identified reasons for positioning your product or service against key competitor(s).
Clear reasoning for the price set. 8.1
?
?
8.2
?
?
8.3
?
?
Identified competitive opportunities and challenges for each targeted segment.
Arguments supported by appropriate sources.
Comprehensive yet relevant information on each group profiled.
Supported by contrasting with the strategy of key competitors (or other companies in a similar industry).
Demonstrates understanding of the competitors’ positioning approach.
Clear argument presented for how customers might be expected to react to the set price.
?
8.4
?
?
8.5
?
? Supported by a comparison with the pricing of key competitor(s).
Clearly identified appropriate distribution channels with compelling reasons for the chosen market.
Good explanation of selected distribution channel(s).
Clearly identified one or more advertising channels to reach out to potential customers.
Good explanation of choosing the specific promotional or advertising strategy.
8.4
?
?
8.5
?
? Supported by contrasting with the distribution strategy of key competitors (or other companies in a similar industry).
Presents a good argument for why a similar/different approach to that of competitors is appropriate for the proposed business.
Well-reasoned approach for each target group.
Supported by contrasting with the advertising strategy of key competitors (or other companies in a similar industry).
9. Financial Plan
9.1
?
?
9.2
?
?
9.3
?
?
?
9.4
?
? Clearly identified a list of expenses to start the business.
Evidence from reliable sources.
Working out behind the projected figures is provided.
Clearly explained the assumptions (e.g. any constants) used in calculating the projection.
Clearly identified a list of ongoing expenses to run the business, with evidence.
Consistent with initial investment and other figures presented in the report.
Accurate calculations.
Consistent with all the figures presented in the report.
Accurate calculations.
9.1
?
9.2
?
?
9.3
?
?
?
9.4
?
? Allocation of costs to clearly defined categories (e.g. by business function).
Consideration of optimistic and conservative estimates in working out the forecast.
Consideration of how customers will react to the price set (Task 8.3).
Clear differentiation between initial and ongoing costs.
Identified the source of each item (either within the report or external reference).
Clear presentation.
Clear differentiation between fixed and variable costs.
Includes break even points for optimistic and conservative sales projections.
10. Implementation Plan
10.1
?
?
10.2
?
?
10.3
?
?
Identified important development activities that need to be performed before launching.
Comprehensive list of tasks identified with a clear and plausible timeline.
Clearly identified dependencies between implementation tasks.
Clear presentation.
Reasonable contingency plan presented.
Clear explanation of contingency measures. 10.1
?
?
?
10.2
?
10.3
?
?
In-depth forethought about what is needed to bring the proposed product/service to market.
Where relevant, legal or regulatory documentation is referenced.
Clear presentation.
Use of an appropriate chart to accurately illustrate the dependencies.
Relevant risks identified for the proposed business.
Succinct yet well-argued contingency measures.
* For Credit and above grades it is expected that all pass requirements are met. Additionally a higher level of quality is expected in regards to writing, referencing and argumentation.