Explain the role and function of a business plan and Identify a potential business idea and state why you believe there is a market: Starting your own business Assignment, TUD, Ireland
| University | Technological University Dublin (TUD) |
Assessment Criteria:
- Explain the role and function of a business plan.
- Identify a potential business idea and state why you believe there is a market for the new product or service.
- Design and document the end product/service in detail.
- Outline the basic business legal structures available and the implications these have on their own business venture.
- Identify your own strengths, weaknesses, and training needed to set up your business venture.
- Outline the support channels that are available to entrepreneurs in new business ventures.
- Conduct a detailed market research study & analysis for your business venture.
- Produce a SWOT analysis of your business venture.
- Produce a cash flow projection for your business venture for the first year of the business.
- Complete an application to the relevant support agencies which would support your business venture.
- Outline the audit and review procedures that you will require in order to track your business performance against the business plan and financial projections.
- Outline the internal and external business environment which will impact your business venture.
- Create plans for funding, marketing, finance, technology, and staffing strategies for the business. Construct a business plan
- Organize independent or third-party reviews of the business plan.
- Analyze the business and business plan post the external review,
- recognizing strengths and making improvements.
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