Unit 1 Enterprise in the Business World Assessor: Mr Grewal Assignment 1 Investigating the Business Environment
Assignment Start Date:
D2 Justify how the initial plan for a business idea has potential for success in relation to existing local businesses
D3 Present a realistic business model for a business, explaining how the format and supporting evidence justifies the initial business idea
Topic B.4 Producing an initial plan for a business idea Topic C.1 Choice of format
Topic C.2 Sources of help and support in developing a new business Topic C.3 Business model
In order to secure funding for your business you will need to show that you understand the business environment in which your business will operate. As a result you will need to create a presentation that covers:
Impact of factors on a selected target group of customers, relevance to business proposition http://www.kickstarter.com/ - To find examples of start-up companies
How National Factors can impact your start up business. (P1)
Political issues, level and type of government support for business, taxation, the economy, e.g. level of employment, inflation, exchange rates, cost of loans.
How changes in two National Factors are likely to impact your start up business. (M1)
Location of business, requirements for resources, e.g. premises, staff, equipment, location of suppliers, competitors and customers
How changes in two Local Factors are likely to impact your start up business. (M1)
Location of business, requirements for resources, e.g. premises, staff, equipment, location of suppliers, competitors and customers
How at least two current trends will impact on a start-up business. (P2)
Social trends; Technology trends; Environmental trends; Ethical trends
The ways in which two current trends impacted upon a start-up business. (M2)
Social trends; Technology trends; Environmental trends; Ethical trends
Assess the current risks, opportunities & trends in the business environment for a start-up business. (D1)
Explain and Compare the features, strengths & weaknesses for TWO Successful Businesses (P3, M3)