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

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.