Higher Nationals

Assignment Brief – BTEC (RQF)

Higher National Diploma in Business

Student Name ID

Unit Number and Title Unit 28 – Launching a New Venture

Academic Year 2018-19 Cohort Term

Unit Leader Rehan Ally Assessor

Assignment Title Launching a New Venture
Issue Date 10.10.2018

Submission Date 07.12.2018

IV Name Saheed Ayinde

Date

Learners Declaration: I certify that the work submitted for this unit is my own and the
research sources are fully acknowledged.

Learners Signature: Date:

Plagiarism:
Any act of plagiarism will be seriously dealt with according to the colleges and awarding
bodies’ regulations. In this context the definition and scope of plagiarism are presented
below:
Plagiarism is presenting someone’s work as your won. It includes copying information
directly from the web or books without referencing the material; submitting joint
coursework as an individual effort; copying another student’s coursework; stealing
coursework form another student and submitting it as your own work. Suspected
plagiarism will be investigated and if found to have occurred will be dealt with according
to the college procedure. (For further details please refer to 5.j.i the Academic Misconduct
policy and procedure; 5.j.ii Academic Misconduct Student Guide; 5.n.v Plagiarism Student
Handbook, all available on HELP.)
 Submission Format:

Assignment Guidelines:

➢ Use a standard report structure, Word-process the report and use Normal script of a proper font
size 12 with 1.5 line spacing.
➢ Produce an academic report, addressing all the tasks with an approx. word limit of 3500, with +/-
10% margin.
➢ Complete the title page and sign the statement of authenticity (format attached). This sheet
should be attached in the front of your assignment.
➢ It should be uploaded on to Turnitin in the submission period as assigned.
➢ Assignments submitted after the deadline will not be accepted unless a mitigating circumstance is
provided. Assignments submitted after the submission date may not be eligible for support
towards feedbacks.
➢ Resubmission is capped to a pass. Learners are allowed to resubmit only once and if fails to pass
at the time of resubmission, would be advised to retake the unit.
➢ Collusion and Plagiarism must be avoided.
➢ Start each answer on a new page and pages should be numbered. Highlight each question clearly.
➢ All work should be comprehensively referenced and all sources must be fully acknowledged,
such as books and journals, websites (include the date of visit), etc.
➢ Include citations (in-text references), a Reference List/Bibliography at the end of the assignment.
Use the Harvard referencing system.
➢ In order to pass you need to address all Pass criteria.
➢ In order to get a merit you need to address all the merit criteria along with pass criteria.
➢ In order to get a Distinction you need to address all the distinction criteria along with pass and
merit criteria.
Use a common report format in writing, for example:
➢ Introduction (analyse the question.)
➢ Underpinning Knowledge (write about the relevant theory/points)
➢ Applied knowledge(Application to a business scenario and supported by applicable data)
➢ Conclusions and Recommendations (summarizing the whole scenario keeping in view pass,
merit, distinction criteria.)

Unit Learning Outcomes:

➢ LO1 Investigate a range of resources required to launch a new venture

➢ LO2 Assess the skills and capabilities required and how these might be acquired or developed.
➢ LO3 Explain and justify appropriate promotional activities to support the launch.
➢ LO4 suggest an appropriate legal form and compile a budget for launch

Assignment Brief and Guidance:

The main purpose of this assignment is to: It is critical that student understand where the ideas of a new
venture come from and to investigate and evaluate a new venture idea. This assignment aims at enabling
students to appreciate and apply the various concepts of innovation and creativity and develop creative abilities.

Important instructions to students towards submission format:

The submission is in the form of an individual written report (3000-3500 words). This should be written in a
concise, formal style using single spacing and font size 12. You are required to make effective use of headings,
paragraphs and subsections as appropriate. Your research should be referenced using the Harvard referencing
system. Please also provide a Reference List/Bibliography using the Harvard referencing system. The
recommended word limit is 3000–3500 words approximately, though you will not be penalised for exceeding
the total word limit.
While attempting the questions you need to address all the LO as specified towards pass merit and distinction.
You will have to pass all the P’s to achieve an overall pass, address all the M’s to achieve an overall merit
besides addressing all the P’s and address all the D’s to achieve an overall merit besides addressing all the P’s
and M’s. You will be given only one chance towards resubmission and this is capped to pass only. If you fail to
address the P’s as specified while Resubmission, you will be asked to repeat the unit.

Introduction:

Globalisation is a major driver that has impact on nearly every business. With technological innovation and
progress in logistics and distribution which enables nearly every business to buy, sell and cooperate on a global
scale. Customers have the chance to compare prices and quality globally, in order to find the best offer.
With these developments, SMEs’ have to ask themselves some questions, even if they do not have immediate
strategy to operate beyond their domestic markets. Answering such questions must help SMEs’ to gain
competitive advantage over their rivals; become profitable, survive and grow.

SMEs’ will also have to make changes in product preferences and changes in expectations on price levels to
meet customer expectation, besides supporting services.

In the light of the above market dynamics, SMEs’ will have to see themselves in a global context, even if they
do not intend to launch their own import or export activities on the international markets.
SMEs’ has to understand that international activities do mean more than just finding new customers or
suppliers in other countries.
The internationalization of a business involves a process of profound change. This change requires taking risks,
opening up the firm’s culture and a great capacity to learn. None of this happens spontaneously but requires
planning and clear leadership. Hence, the planning of these internal changes should be part of the planning for
international activities.

Scenario:
As a young successful businessperson in the UK, you are looking to enter an international market, in Europe.
Before you do so, you need to develop a business plan and an accompanying action plan to propel your
business forward in your chosen international market.

The proposed business plan should include the following:

1. Background to your venture idea, including market research undertaken, support data and statistics,
competitor analysis and identifying the target market.
2. Resources required for setting up the business, including human, financial and physical.
3. Identifying skills and capabilities required for the business and how they will be acquired for future
operations.
4. Financial capital and considerations for starting up a lean business. The principles that will be
applied.
5. Explanation of promotional activities and pricing strategies.
6. The identity of an appropriate business promotional message/name /logo for the business
7. A predicted 12-month budget for the launch of the business.
8. Details of an appropriate legal structure for the business.
Please address the LO’s and assessment criteria’s as specified below. [You are encouraged to use practical
examples from where appropriate to support the various concepts and theories that will ensure effective
launching of the business in the international market.

Use supportive materials like books, Journals and other secondary sources of information on to generate
ideas for your business plan, justify your suggestions and underpin your proposals with theories from
credible sources. The answers you will give should reflect the scenario.
 Learning Outcomes and Assessment Criteria

PASS MERIT DISTINCTION

LO1 Investigate the range of resources required to launch a new venture.

P1. Investigate and explain a new
venture for your chosen
organisation, identifying specific
target markets and undertaking
competitive analysis.
P2. Determine specific tangible
and intangible resources that
would be required by your
chosen organisation for the
launch of a new venture.
M1. Investigate and explain a
new venture for your chosen
organisation, identifying specific
target markets and undertaking
competitive analysis.
M2. Discuss the strengths and
weaknesses of the new venture
and determine areas of risk.
D1. Develop a detailed proposal
that demonstrates critical analysis
and reflection of the competitive
environment with supporting
contingency planning to
minimise risk.

LO2 Assess the skills and capabilities required and how these might be acquired or developed.

P3. Produce a credible proposal
to launch a new venture in your
chosen organisation.
P4. Assess the skills and
capabilities required to launch a
new venture and how they are
acquired or developed.
M3. Explore the range of skills
and capabilities required for the
launch and critically assess how
they might be acquired or
developed applying appropriate
methods.
D2. Critically discuss supporting
costs and timescales required for
acquiring and/or developing the
skills and capabilities of a launch
team.

LO3 Explain and justify appropriate promotional activities to support the launch.

P5. Explain the different M4. Evaluate an appropriate D3 Critically evaluate the
promotional activities and promotional activities plan for different promotional activities to
channels that will support the both launch and pre-launch. support justifications.
launch of the new venture and
justify their choice for your
chosen organisation.
P6. Develop an appropriate
promotional activities plan for
both launch and pre-launch of
your chosen organisation’s new
venture.
LO4 Suggest an appropriate legal form and compile a budget for launch.

P7. Produce an itemised monthly
cash budget for the pre-launch
phase of the venture and the first
12–18 months preceding launch
of your chosen organisation’s
new venture.
M5. Justify an itemised monthly
cash budget showing one off
costs, on-going costs and
anticipated income post- and pre-
launch.
D4. Create a pre- and post-
launch monthly itemised cash
budget based on financial
resources, including key budget
categories and sub-categories,
with contingency measures for
anticipated outcomes.
Higher Nationals –
Summative Assignment Feedback Form
Grade Awarded:

Student Name/ID

Unit No/Title Unit 27 – Identifying Entrepreneurial Opportunities

Cohort Term / Group

Assignment Number Assessor
Date 1st
Submission Date
submission
Date 2nd submission
Re-submission Date

Assessor’s Feedback:

LO1

LO2

LO3

LO4

General Comments:
 Grade: Assessor Signature: Date:

Resubmission Feedback:

Grade: Assessor Signature: Date:

Internal Verifier’s Comments:

Signature & Date:

* Please note that grade decisions are provisional. They are only confirmed once internal and external moderation has
taken place and grades decisions have been agreed at the assess