BTEC Higher National Diploma (HND) in Business ESBM (RQF)
Unit Number and Title
Unit 28: Launching a New Venture
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ASSIGNMENT BRIEF |
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BTEC Higher National Diploma (HND) in Business ESBM (RQF) |
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Unit Number and Title |
Unit 28: Launching a New Venture |
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Unit Level: |
05 |
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Unit Lecturer: |
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Lecturer’s Email: |
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Assessment Title |
Utilize resources, promotional plan and allocate budget for new venture. |
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Personal Tutor: |
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Personal Tutor’s Email: |
i.chowdhury@lcc.ac.uk |
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Key Dates |
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11/09/2023 |
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Submission date: |
01/12/2023 |
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Result Published Date: |
4 ***** after submission (Feedback is available after 3 weeks) |
Submission Format
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The assignment is to be submitted as a Report and Plan that can be presented in a format of your choice. The Report must be clear and concise, stating the problem/issue and include a summary of analysis and recommendations. All your work must be supported with research and referenced correctly using the Harvard referencing system (or an alternative referencing system). You must also provide a bibliography using the Harvard referencing system (or an alternative one). Inaccurate referencing use may lead to plagiarism issues if not applied correctly. The recommended word limit for the briefing paper is 2,500–3,000 words, although you will not be penalised for going under or exceeding the total word limit. |
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Unit Learning Outcomes |
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LO1 Investigate the ********* required to launch a new venture. LO2 Explore the skills and capabilities required to support the launch of a *** venture. LO3 ******* promotional activities to support *** launch of a *** venture. LO4 Produce a budget *** ********* a *** venture for a small business or social enterprise. |
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Transferable skills competencies developed |
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● Planning and understanding resources: categorising, analysing, and utilising tangible, intangible, financial, and human resources. ● You acquire skills, identifying required capabilities, and recognizing networks' importance. ● Develop promotional activities for a new venture, including ********* mix, pricing strategy, business identity, website creation, social media, and mobile marketing. ● Evaluate and review promotional activities, ensuring appropriateness for *** new venture's launch. ● The venture launch budget includes pre-launch costs, forecasting income and expenses, ● A detailed budget including one-off and ongoing costs and calculating break-even points. ● It also includes available financial resources, 'what-if' scenarios, *** contingency measures. |
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Assignment Brief and Guidance |
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Vocational scenario (Part A) Because of the COVID-19 epidemic, there has been a significant increase in online sales. E-commerce saw a ten-year growth spurt during the height of the epidemic, which occurred during that time. While this increase in demand has increased competitiveness in the market, it has also increased supply. According to Shopify's Future of Commerce Report, it is estimated that 150 million individuals made their first online purchases during the pandemic and that e-commerce as a share of global retail sales will continue to increase over the next five years. The company plans to launch their new online ventures to gain competitive advantages. (Part B) The management has asked you to develop a promotional plan to launch a new venture. Additionally, they want you to create a budget and a cash flow prediction for the first 12–18 months of operation for the selected experience. Your Role You are a Junior Business Development Manager in one of your mid-sized companies (Company of your choice). You will conduct a study and gain a fundamental understanding of what it takes to launch a new venture successfully. You will need resourcefulness when starting a new venture; identifying and using personal networks can offer a valuable source of knowledge, resources, advice, and opportunities for your chosen organisation. *Select an appropriate small business that meets local needs |
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Assignment activity and guidance |
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Part A- The Report will cover the following answers
Part B - Create promotional activities Plan and budget for new venture launch. 5. Develop a Promotional Activities Plan for your new ventures, including ● Name of the venture and how do you register for the venture ● key promotional messages and personalised branding ● Social media and digital promotion techniques ● Leveraging mobile marketing for specific target markets 6. Create a promotional activities plan for a new venture, addressing the marketing mix and evaluating success using metrics to support the launch of your ventures 7. Produce a monthly itemised cash budget for the pre-launch phase and the first 12-18 months following launch, highlighting costs, ongoing expenses, and anticipated income. 8. Create a comprehensive budget based on financial resources and contingency measures for anticipated outcomes. |
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Learning Outcomes and Assessment Criteria |
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Pass |
Merit |
Distinction |
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LO1 Investigate the resources ******** to launch a new venture. |
LO1 *** LO2 D1 Critically evaluates the ************ and appropriateness ** resources, skills and capabilities to support the successful launch ** a new venture. |
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P1 ******* *** ******** and ********** resources required *** the launch of a new venture. |
M1 Evaluate the availability and *************** of the tangible and intangible resources required to launch a new venture. |
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LO2 ******* the ****** *** capabilities required to support the launch ** a new venture. |
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P2 Discuss the ********* ****** and capabilities required to launch a new venture. |
M2 Evaluate a range of skills and capabilities required for launching a new venture. |
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LO3 Develop promotional activities ** support the ****** of a new venture. |
D2 Create a promotional activities plan that includes a set of metrics to evaluate success. |
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P3 Devise a promotional activities plan for the launch of a new venture. |
M3 Develops a wide range of promotional activities that address the marketing mix ** support the launch of a new venture. |
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LO4 Produce a budget *** launching a small business or ****** enterprise venture. |
D3 ******* a comprehensive pre- and post-launch monthly itemised cash ****** ***** on financial resources *** contingency measures for anticipated outcomes. |
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P4 Produce an itemised monthly cash budget for the pre-launch phase and the first 12–18 following launch.. |
M4: Produce a ******** monthly cash budget, showing one-off costs, ongoing ***** *** *********** income post and pre-launch. |
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Recommended Resources
Textbooks
BURNS, P. (2016). Entrepreneurship *** Small Business: Start-up, Growth and Maturity. 4th Ed. Basingstoke: ******** Macmillan.
BURNS, P. (2018) New Venture Creation: A Framework for Entrepreneurial Start-ups. 2nd Ed. Basingstoke: Palgrave Macmillan.
RIDLEY-DUFF, R. and BULL, M. (2019) Understanding Social Enterprise: Theory and Practice. Sage Publications Ltd.
WILLIAMS, S. (2015) ********* Times Guides: ******** Start-up 2015. Harlow: Pearson.
Websites:
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www.entrepreneur.com |
Entrepreneur (General reference) |
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www.entrepreneurhandbook.co.uk |
Entrepreneur Handbook (General reference) |
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www.isbe.org.uk www.forbes.com |
The Institute for Small Business and Entrepreneurship (General reference) Forbes Small Business Entrepreneurs (Articles)
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Links
**** unit links to the following related units:
Unit 2: Marketing Processes *** Planning
Unit 9: *************** Ventures
Unit 27: Identifying Entrepreneurial Opportunities
Unit 29: Managing and Running a Small Business