BS100 TMA Summer 2019 - 2020

TMA will be marked out of 100 and is worth 35% of the course assessment.
Cut-off Date: 9th August 2020
Word Limit: 1200 Words

PREPARING A SUCCESSFUL PLAN FOR YOUR NEW VENTURE – FIRST STEP

TOWARDS ENSURING SUCCESS

The success of any business starts with its planning phase. Businesses need voluminous
resources and those resources are scarce in nature. Proper planning and utilization of those
resources is one of the key success factors of a successful business. Planning and control are not
only needed for an existing business, it is very much required for new venture being set up.

Preparing a business plan for any venture itself posing variety of challenges for an entrepreneur
since it involves presenting the details of business activities in a more coherent manner.
Business plans become source documents for obtaining necessary funding for starting up of that
venture. At the same time, it becomes the source document for implementation of certain
business operation and business strategies. The Process of Business Planning is summarized and
given below:

(Source:https://www.slideshare.net/ialwaysthinkprettythings/business-planning-process-
13536112)
Having understood the importance of a Business Plan for ensuring the success of a venture, you
are required to

Tasks
Assume you are starting a new small business within 6 months period from now. You have to
prepare a Business Plan for starting a small business in Oman.

In your business plan, you can include the following: (1200 words) (100 marks)

 Define business plan and its importance

 Explain about your business (activities) and its objectives clearly

 Explain about your target market and customers. Discuss how are you going to market
your product/services?

 Estimate the money required (capital for long-term assets and working capital) required
for running this business and explain how will you get these funds?

 Explain how will you select qualified team for your organization?

(20 + 20 + 20 + 20 + 20 = 100 marks)

Note:

You need to cite at least 5 different external references.

General Mark’s deductions as follows

• PT3 Form: failure to complete the PT3 form correctly, (5 point).
• TMA Presentation and Structure, and word count: untidy presentation, work way
below or above the word count (deduct up to 5 point).
• Referencing and in-text citation: poor referencing/poor or lack of bibliographical
list, and or poor in-text citation without plagiarism, (deduct up to 5 points).