BM308 Strategy Leadership and Management
Q1 A critical review on the relevant entrepreneurship and small business research literature with a view to include a credible, ethical, and informed business proposal (transforming) ideas and concepts into a well-argued and supported business venture.
Q3 You will then critically evaluate the alternative sources of business finance and their relevance to the contemporary business practice involving sound ethical practice.
Business Description – Describe the industry, current market trends, future developments
Marketing strategies – Conduct a marketing analysis 7P’s
Competitive analysis – Conduct a SWOT analysis within your industry
Design and development of your product or service – Inform investors of what exactly it is you require money for and how you plan on spending the investment.
Operation & Management plan – Explain the physical location, facilities, equipment, human resources, needed to get your product or service off the ground
Financial factors – Current and or historical financial information, projections, break-even point, set out your expenses, funding requests, exit strategy
Your ideas need to be informed, credible and be supported with valid concepts and theory Traditional sources of finance: Overdrafts, bank loans, credit cards Alternative sources of finance: Crowd funding, Angel investor Can you think of anymore? Charities, Grants, Go fund me etc.Relevance to contemporary business practice refers to the circumstances and ideas of the present time in a business environment.
What is relevant now ?
Ethical practice: Ethical business practices are actions performed and attitudes held by a business and its employees that are considered professionally and morally responsible. These types of practices typically seek to promote the goals of the company without sacrificing the common good of its employees, customers, and even competitors.
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