DIVISION OF BUSINESS ENTERPRISE and MANAGEMENT
NEW ENTERPRISE CREATION
Module Number B3133
SESSION 2023/24– DIET 1
Assignment medium: Business Plan and Interview
Word limit: Part 1 Business Plan 3,500(+10%) Part 2 Interview 15 Minutes Number of references: References should focus on supporting the figures and estimates in your business plan. Referencing: Harvard Referencing System (as per Cite/Them Right) https://www.citethemrightonline.com/How-to-access Format: Arial 11; 1.5 line-spacing; both margins justified (except in the Reference List, which should be left-aligned and presented with 1.15 line-spacing) Submission medium: Electronic submission via Dropbox Weighting: 100% (Part 1 Business plan 75% and part 2 Interview 25%)
Anonymous marking: No Submission date: 4 p.m., TBC Front cover sheet: the pro forma on the module Canvas site should be used. |
Assessment Overview/Context
Prepare a business plan for a new start-up enterprise, according to the following brief. You will form a partnership with 3, or in some cases 2, participants. This is a single assessment but has two interconnected parts:
Part 1: A formal written business plan (worth 75% of marks for module)
Part 2: A formal Interview (As if being interviewed by investors/bank) (worth 25% of marks for module)
**Please note that at teaching week 3 (2nd Tutorial), we will require you to discuss your initial idea, therefore you need to ensure you are in a business partnership by then. If you or your business partners develop, issues or problems with working together, this should be brought to the attention of the teaching team/module co-ordinator by the end of the 4th teaching week at the latest **
Context Brief for Parts 1 and 2
1. The business plan should be written as if it were to support an application for external funding. This funding could be from a traditional Bank, Angel investors or a Crowdfunding scenario.
2. The venture is a small business. (A New Enterprise) It needs to be realistic!
3. The business should be based in the Edinburgh area or your hometown/region. You must include a detailed map of any selected location and its surrounds (in Appendices). (This is to ensure those reviewing the work can form some understanding of the local area/context/competition/neighbouring businesses etc. This is in addition to any written analysis of location issues.)
4. The format/type of the business is discretionary. Part of the skill and analysis is to identify and develop a clear and opportunistic niche/USP.
5. Students (business partners) should imagine themselves in a ‘realistic’ situation where the financial support of an external investor is crucial to the success/launch of the venture.
6. Following the submission of the written plan (Part 1), students (business partners) will be required to answer questions/defend their proposal, in a funding style interview scenario (Part 2). This will not be in front of the class but will be in a face-to-face interview situation with QMU staff. (Please note that this is an Interview NOT a presentation.)
Interview times
These will be posted on the module CANVAS site. Partners will be able to select from a range of fixed interview time slots on a first come first served basis. It is your responsibility to choose one time slot only for your group. Any student with EC should ensure that arrangements are made for an interview slot at a convenient time.
Assessments Aims and Objectives
– To enhance and develop students abilities in the identification, creation, design,
planning, and management techniques/issues involved in new enterprise creation.
Research, review and utilise appropriate formats and the key requirements of a
business plan.
– To provide students with the opportunity to create a new business concept and
the ability to evaluate, analyse and critically review the proposed plan and present
a plan with a focused objective (in this case financial borrowing) tailored to the
requirements of the recipient.
– Encourage students to fully analyse the marketplace and develop a potentially
viable business idea/proposition.
– To allow students to present and defend their business proposal in as realistic a setting as possible.
Learning Outcomes
On successful completion of the module, the student will be able to:
– Critically apply both market analysis and creativity to generate and develop new business idea/s and recognise the role of innovation in maintaining competitive business advantage.
– Identify, apply, and evaluate the key skills/methods that are required in the start-up and management of a small business enterprise.
– Investigate, review, evaluate and apply research/data from appropriate sources of information/data to produce a credible focused written business plan suitable for raising finance.
– Develop and produce appropriate and realistic budgets (e.g. costings, forecasts, profit & loss, and cash flow statements) appropriate for use in a business plan and be able to defend these at interview.
– Understand the need to present the plan in an appropriate format with the content directed towards the specific requirements and needs of the recipient.
– Understand the importance of being fully prepared to present and defend the business plan/proposal verbally.
Assessment Formats for parts 1 & 2
Format Part 1 (75% of marks for module see guidance below)
Students are required to produce a business plan of 3500 words in length. The required Projected Profit & Loss Accounts, The Projected Monthly Cash Flows and a formal Partnership Agreement can be in addition to the word count and submitted as appendices. You may include additional appendices for supporting information that should be referenced into the main text (perhaps supplier information, analysis, price lists, renovation costs, evidence etc. etc.). Cash flow statement should be monthly for a minimum of a year. However, many lenders would expect to see a longer period if the business is not in a profitable trading situation within the first year.
Format Part 2 (25% of marks for module see guidance below)
Following submission of the business plan (part 1) student will be required to attend (as business partnerships) and defend their plan in an ‘investor style’ interview setting. This will be an approximately 15-minute question and answer session with members of the teaching team only. This is not a presentation, but you may consider bringing supporting material.
You will also have a 5 to 10-minute opportunity to have direct face-to-face feedback on both your written plan and your interview on the day.
Provenance of submitted work:
Students are reminded of the purpose of lectures. Whether delivered in a lecture hall or as an electronic recording, the lecture’s purpose is not to provide ‘reliable answers’, but to guide students to appropriate literature where reliable answers may be found. The content of lectures may NOT, therefore, be ‘lifted’ and used by students in the completion of their submissions, nor should the lecturers themselves be cited on the basis of what they have presented in class (of course, their published work may be cited in the normal manner).
Recorded lectures and PowerPoint slides from ‘live’ lectures are made available to you on the module’s Canvas site so that you may view them again and benefit afresh from their guidance, not so that they may be used ‘as a source’ for submitted work.
Mark Guidance part 1
The written part of the business plan is worth 75% of the total marks for this module.
The marks allocation below should be used as a guide only. The lecture and tutorial programme will support the development of this work. Several additional areas may/could be included that will attract additional mark opportunities.
You will be required to have your outline idea/concept approved at the second set of tutorials by the module team in the tutorial time of teaching week 3 (don’t worry if you are in different tutorial times just attend as timetabled)
Overall presentation/structure and evidence of collaboration, teamwork
and partners cohesion is identified 10%
Critical analysis is provided of what makes it special and sales are
justified and analysed 15% Location and occupancy issues are discussed and analysed 10%
The use of gross profit, net profit and margin issues are identified and explained. 10%
Underlying assumptions and overhead breakdowns is discussed 10%
Financial projections: projected profit and loss account; projected
Monthly cash flow analysis is produced and appraised 25%
Key staffing skills and requirements for business are identified
and justified 10%
Overall strengths of the plan as a lending proposal 10%
Mark Guidance Part 2
The ‘investor style’ interview assessment part is worth 25% of the total marks for this module.
The marks allocation below should be used as a guide only. The lecture and tutorial programme will support the development of this work.
Overall presentation and professionalism of business partners including
evidence of collaboration, teamwork, preparation, enthusiasm, and partners cohesion 25%
Defence and use of supporting evidence during interview 25%
The Business opportunity/USP/special nature of the business proposition is identified and justified 25%
Demonstrating an understanding and use of key business plan elements outlined in assessment guide 1 25%
SUBMISSION INSTRUCTIONS and DATES PART 1
The Plan must be submitted to the Canvas Dropbox by (TBC)
As this is partnership working, ILPs do not operate for this submission
SUBMISSION INSTRUCTIONS and DATES PART 2
Interviews will be possible during the two weeks after submission. Those with EC arrangements who cannot select a time, should contact Richard Bent ([email protected]) or Jennifer Bingham ([email protected]) . Please note that you will be asked to sign up for these times, on CANVAS, during Oct/Nov.
It is your responsibility to check/sign up for interview times on Hub.
*Please again note that if you or your business partner develop issues or problems regarding working together, this should be brought to the attention of the teaching team/module co-ordinator by the end of the 4th week at the latest. This should not be identified to staff just before submission or presentations. All partners are expected to contribute to both the research, written and interview elements of the assessment.
Richard Bent and Jennifer Bingham 2023
ASSESSMENT FEEDBACK SHEET (1st Diet)
Assignment 1 & 2 Written Business Plan
Student Matriculation No:
Module Title: NEC
Module Code:B3133
Part: 1 Business plan (75%) Combined Mark =
Part: 2 Interview (25%)
Submission Date:
Strengths and limitations of assignment (Tutor’s comments refer to criteria for the assessment): This should be read in conjunction with the Mark Allocation guidelines contained in the assignment brief.
(An opportunity for feedback will be given at the end of the formal interview stage)
Student has identified the key skills and processes that are required in developing and managing a small business start-up.
Student develops new business idea and demonstrates in business plan/interview creativity and/or USP
Business plan is designed to raise finance and is developed to a standard required by potential investors
Business plan is produced in partnership and highlights the key skills of the potential business partners
Use of appropriate sources and methods for collecting/analysing sales information, location justification, overhead estimation and development of business margins
Production of appropriate and realistic budgets, forecasts, P& L and cash flow accounts.
Interview Feedback (not given at session)
Areas for development in relation to preparation of future assignments:
Signature first marker: Date:
Signature second marker
/moderator: Date:
Mark / Grade: Part 1
Mark/ Grade: Part 2
Students are reminded that the grade indicated is PROVISIONAL only. It must be confirmed by the External Examiner and ratified by the Board of Examiners. Please contact the internal examiner if you wish to discuss your feedback.
QMU Undergraduate Grade Descriptors
Approved by the University Senate on 30 June 2021
Applicable to all new and existing modules being delivered from September 2021 onwards
Grade A* 80% and above Outstanding performance, exceptionally able – pass
- Articulates an outstanding understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates outstanding knowledge of appropriate reading through extensive references to appropriate scholarly sources
- Shows outstanding problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents outstanding discussion in a logical, connected and progressing structure, and valid conclusions
- Displays an outstanding ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows an outstanding reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade A 70-79.9% Excellent performance – pass
- Articulates an excellent understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates an excellent knowledge of appropriate reading through frequent references to appropriate scholarly sources
- Shows excellent problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents excellent discussion in a logical, connected and progressing structure, and valid conclusions
- Displays an excellent ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows excellent reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade B 60-69.9% Very good performance – pass
- Articulates a very good understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates a very good knowledge of appropriate reading through references to appropriate scholarly sources
- Shows very good problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents very good discussion in a logical, connected and progressing structure, and valid conclusions
- Displays a very good ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows very good reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade C 50-59.9% Good performance – pass
- Articulates a good understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates good knowledge of appropriate reading through some references to appropriate scholarly sources
- Shows good problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents a good discussion in a logical, connected and progressing structure, and valid conclusions
- Displays a good ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows a good reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade D 40-49.9% Satisfactory Performance – pass
- Articulates a satisfactory understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates satisfactory knowledge of appropriate reading through some references to appropriate scholarly sources
- Shows satisfactory problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents a satisfactory discussion in a logical, connected and progressing structure, and valid conclusions
- Displays a satisfactory ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows satisfactory reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade E 30-39.9% Unsatisfactory performance – fail
- Articulates partial understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates partial knowledge of appropriate reading through limited references to appropriate scholarly sources
- Shows insufficient problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents limited discussion of logical, connected and progressing structure with incomplete conclusions
- Displays a limited ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows insufficient reflexive awareness of value judgements and assumptions embedded in the subject or discipline
Grade F 0-29.9% Unsatisfactory performance – fail
- Articulates little or no understanding and interpretation of the relevant information, key theories and concepts presented by the assessment
- Demonstrates little or no knowledge of appropriate reading or references to appropriate scholarly sources
- Shows ineffective or no problem solving, creativity, originality, critical thinking, analysis and evaluation
- Presents ineffective or no discussion of logical, connected and progressing structure with incomplete conclusions
- Displays little or no ability to appraise evidence and synthesise concepts, knowledge and theory
- Shows little or no reflexive awareness of value judgements and assumptions embedded in the subject or discipline
