LAUNCHING A BUSINESS ASSESSMENT

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The dissertation/ business project module MBA499 assessment is to be within the word
count of 10-12,000 words, and the way of reaching this is via 3 components all to be marked
out of 100.

1) Group project report = 50%= 5-6000 words

2) Group presentation = 25%= 2,000 words

3) Individual report = 25%= 3-4000 words

The contents of each of these are explained here and supplement materials already
distributed:

1) The group report should include :

Maximum marks awarded

Aim and objectives 5
Description of the product 5
Market analysis 40
Formulation of strategy 20
Costing 10
Staff and Resources 10
Financial projections 10
100
Total

2) The group presentation should include the following aspects and marks will
include answering questions

Maximum marks
awarded
Comprehensiveness 10
Clarity 40
Persuasiveness 30
Visuals 10
Identifying and dealing with challenges 10
100
Total

3) The individual report should include reflections on the following areas:

Maximum marks
awarded
Problem solving Clear identification of topic and how team 20---700
focussed and allocated tasks to achieve aim
Knowledge and Background and data collection and 20---700words
understanding application eg your core business
 knowledge in areas like marketing and
accounting
Synthesis Combines and reformats ideas /data to 10--500
purpose
Analysis Application of theory and concepts to 20----700-
evidence. Critical incidents that shaped the
work.
Evaluation Insightful interpretation of findings from both 20---700
personal and group perspective. Where
were your life and soft skills in evidence in
team work.
Communication and Structure of work is organised to cover 10
presentation marking scheme. Language is concise and
headings are used .
Total 100

The individual report will involve personal reflections on the process and consequently may
be written in the first person. The headings provided are an attempt to advise on the content
but this should not be a duplication of the material in the group report. This is for you to think
about your strengths and weaknesses when working as part of a team and how you were
able to fit. In addition you should include reference to your application of your personal skills
development.

Keeping a record of what happens throughout the process in the form of a log/diary may
help.

Using models or theoretical frameworks may inform this work too and students using
materials informed by their taught modules will enhance their work. Reference to articles is
encouraged for example you may like to include

Yeh E, Smith C, Jennings C and Castro N (2006) Team Building : a 3 dimensional model , in
Team Performance Management Vol 12, Issue 5/6 p192-197 Emerald Publishing Ltd

This work introduces an innovative 3 dimensional teamwork model adapted from the work of
Belbin, Andia, Thompson et al plus original work from the team of authors at the University
of Phoenix (http://www.emeraldinsight.com/Insight/viewContentItem.do?
contentType=Article&contentId=1573032 accessed on 14/3/10)

Please draw on module materials to develop your work.

 PRESENTATION OF YOUR WORK

REPORTS

The presentation of reports should follow

1) Cover page (1 page) title authors, date

2) Table of Contents (1-2 pages)

3) Executive Summary within this there should be

Context
Methods
Findings
Conclusions

4) Introduction (to cover aim and objectives)

5) Findings to cover headings identified in table above

6) Conclusions /recommendations

7) Appendices as necessary

8) References as necessary using Harvard system

PRESENTATIONS

The presentations should follow the headings above but should include evidence of

Knowledge and understanding

Reflection on practice

Planning and management of learning

Communication and presentation

They will be 20 minutes in length and allow 10 minutes for questions. A claxon will sound
after 20 minutes as timing will be key to the delivery.

INDIVIDUAL REFLECTION REPORT

Individual reflection report should follow an informal report structure taking heed of
headings identified.

HAND IN DATES ARE:

Group Reports 4th May 2010

Presentations 5th and 6th May 2010 (schedule to be confirmed)
Individual Report 12th May 2010
 UNIVERSITY OF WALES INSTITUTE, CARDIFF

ATHROFA PRIFYSGOL CYMRU, CAERDYDD

CARDIFF SCHOOL OF MANAGEMENT

Assignment/coursework general submission requirements

A. Written work

 Your student name and identification number must be clearly stated at the top
of each page of your work. Where work is to be marked anonymously, only
include your student number.
 A signed declaration that the work is your own (apart from otherwise
referenced acknowledgements) must be included after the title page of your
assignment
 Each page must be numbered.
 Where appropriate, a contents page, a list of tables/figures and a list of
abbreviations should precede your work.
 All referencing must adhere to School/Institutional requirements.
 A word count must be stated at the end of your work.
 Your programme, year of study and the relevant module must be included as
a “footer” on each page.
 Appendices should be kept to the minimum and be of direct relevance to the
content of your work.
 All tables and figures must be correctly numbered and labelled.
 Your assignment/coursework should be submitted in one A4 transparent
pocket unless it is not appropriate to do so (in which case, specific instructions
will be provided by your module leader).

B. Other types of coursework/assignments

 Where coursework involves oral presentations, discussions, poster

presentations, etc., specific instructions will be provided by your module
leader/team.
 POSTGRADUATE PROGRAMMES – GENERIC CRITERIA

90 - 100 A quite exceptional and outstanding answer, providing insights which

would not be available publicly, and would, with some editing, be
publishable. In addition to the features of the next section, this range is
distinguished by superior organisation economic use of language and
totally comprehensive, given the conditions of the exercise.

80 - 89 An answer which demonstrates an excellent understanding of the

question and of the complexity of the issues involved. There is a sound
basis of relevant factual knowledge and/or the theoretical issues involved.
Most of the important issues are dealt with in a detailed, specific and
systematic way. There is either some measure of original thinking in the
answer or an accurate and comprehensive account is given in a way
which demonstrates understanding, for example by structuring the
material such that it could not have been based just on reproduction of
lecture notes and programme material. Evidence of creativity, critical
approach, and wide reading beyond the core subject matter.

70 - 79 As above but a slightly less consistently excellent level. Alternatively, this

range of mark may be given for an answer which, while not having
original insights, gives comprehensive and accurate coverage of the
issues at a high level throughout the answer, without significant
omissions or errors.

60 - 69 The answer shows evidence of ability to maintain a personal position in

original terms and shows a command of the accepted critical positions
with some attempts at innovation. It is lively and highly articulated, giving
evidence of knowledge, enthusiasm and control. There is demonstration
of a clear understanding of the question and a grasp of the complexity of
the issues involved, and there is a sound basis of relevant factual
knowledge and/or theoretical issues involved, with few significant errors

50 - 59 The answer shows evidence of an ability to defend on the basis of

evidence and personal position in relation to an issue or aesthetic. It
shows evidence of evaluation of information and synthesis of
generalisations from it. There is clear evidence of selection of
appropriate material, logical structure and clear argument. The answer
demonstrates an understanding of the major or basic issues in the
question, and there is a basis of factual knowledge and/or relevant
theoretical issues.

40 - 49 The answer demonstrates an understanding of the major or basic issues

in the question. There is evidence of a satisfactory level of analysis and
judgement including a statement of criteria. Evidence of selection of
appropriate material, logical structure and clear argument are also
present. The overall framework is sensible and accurate.
30 - 39 Significant errors may be present. The answer is less well planned
compared to above, or poorly planned, with little clear train of thought or
development of argument. There is some evidence of ability to collate
information and construct generalisations, but with limited comment on
the weighting of evidence or opinion.

20 - 29 The answer may meander around the general area of the question, but
with very little convenience or structure. There is no evidence of
criticism, synthesis or evaluation.

10 - 19 Some notes relevant to the question, but without coherence.

1 - 9 Notes of little relevance to the question or only an introductory paragraph

and one or two scattered thoughts.
 UWIC
CARDIFF SCHOOL OF MANAGEMENT: ASSIGNMENT FEEDBACK PROFORMA

STUDENT NAME: PROGRAMME:

STUDENT NUMBER: YEAR: GROUP:

Module Number: Term: Module Title:

Tutor Responsible For Marking This Assignment:

Module Leader:

Assignment Due Date: Hand In Date:

ASSIGNMENT TITLE:

FEEDBACK DATE(Return of assignments to students):

SECTION A: SELF ASSESSMENT (TO BE COMPLETED BY THE STUDENT)

In relation to each of the set assessment criteria, please identify the areas in which you feel you have strengths and those in
which you need to improve. Provide evidence to support your self-assessment with reference to the content of your
assignment.
STRENGTHS AREAS FOR IMPROVEMENT

I certify that this assignment is a result of my own work and that all sources have been acknowledged:

Signed:______________________________________________ Date___________________________

SECTION B: TUTOR FEEDBACK

(based on assignment criteria, key skills and where appropriate, reference to professional standards)

AREAS FOR IMPROVEMENT AND TARGETS FOR

STRENGTHS FUTURE ASSIGNMENTS

MARK/GRADE AWARDED DATE: SIGNED

ASSIGNMENT MODERATED BY:

DATE
MODERATOR’S COMMENTS:
 1. Clarify the purpose of the plan, and whether it will need to 'sell' your business to outsiders such as
potential investors.
2. Review your SWOT analysis of the business (SWOT: strengths, weaknesses, opportunities,
threats); consider including a summary with the plan.
3. Begin the plan with background material on the history of the business, and an outline of your
product or service and its USP(s).
4. Describe the market segments in which you compete, market trends and key drivers and the nature
of any existing customers or key targets.
5. Outline the main competing products and suppliers, how they compare with yours, and why you will
be able to compete effectively.
6. Explain how you market your product - its market position, pricing, promotion, and distribution
channels - and how you sell.
7. Set out the structure and key skills of your management and employees; assess their performance
and motivation.
8. Analyse your operations - premises, production facilities, management information systems - and
any plans for improvements.
9. Provide historical financial information; highlight key figures (such as sales, key operating and
financial ratios) and trends, and explain anything unusual.
10. Provide latest financials - an up-to-date balance sheet and profit and loss and cashflow statements.
11. Prepare financial forecasts for the next few years; explain key assumptions and any contingency
plans covering key areas of uncertainty.
12. Make sure that the plan is short and focused; move any detailed information (eg market research,
extensive financial information) to an appendix.
13. Write a one- or two-page executive summary at the beginning of the plan.
14. Read through the plan to ensure that it sets out a realistic strategy and action plan in a professional
manner; ask advisers for their comments.

Cardinal rules

DO:
• clarify the purpose of your plan before you write it
• focus on the key information the reader will want
• highlight future plans as well as describing the current situation
• be realistic
DON'T:
• waffle or include unnecessary detail
• base your plan on over-optimistic assumptions
• ignore competitive threats and we

2 The business

2.1 Explain the background to your business idea, including:

• The length of time you have been developing the business idea in its present form.
• Work carried out to date.
• Any related experience you have.
• The proposed ownership structure of the business.
2.2 Explain, in plain English, what your product or service is. Make it clear how:
• It will stand out as different from other products or services.
• Your customers will gain through buying your product or service.
• The business can be developed to meet customers' changing needs in the future.
It is important to cover any disadvantages or weak points you feel the business may have. Be frank about
these - it actually inspires confidence.
2.3 Explain any key features of the industry (eg special regulations, effective cartels or major changes in
technology).

3 Markets and competitors

3.1 Focus on the segments of the market you plan to target - for example, local customers or a particular
age group.
• Indicate how large each market segment is and whether it is growing or declining.
• Illustrate the important trends - and the reasons behind them.
• Outline the key characteristics of buyers in each segment (eg age, sex or income).
• Mention customers you have already lined up and any sales you have already achieved.
3.2 What are the competing products and who supplies them?
• List the advantages and disadvantages of all your competitors and their products.
• Explain why people will desert established competitors and buy from you instead.
• Show you understand your competitors' reaction to losing business and demonstrate how you will
respond to it.
Unless there is a viable market and you know how you are going to beat the competition, your business will
be vulnerable.

You must show you have done the market research needed to justify what you say in the plan.

4 Sales and marketing

This section is crucial. It often gives a good indication of the business' chances of success.

4.1 How will your product or service meet your customers' specific needs?
4.2 How will you position your product?
• This is the place to show how your price, quality, response time and after-sales service will
compare with competitors.
• Quote minimum order figures, if appropriate.
4.3 How will you sell to customers?
For example, by phone, through your website, face-to-face or through an agent.
• Show how long you predict each sale will take. Many new businesses underestimate the time
involved in winning each order. In year one you may spend up to 80 per cent of your time making
contacts and selling.
• Will you be able to make repeat sales? If not, it will be hard to build up volume.
4.4 Who will your first customers be?
• Show which customers have expressed an interest or promised to buy from you and the sales they
represent.
• How will you identify potential customers?
Unless you can demonstrate that you have a clearly defined pool of potential customers, starting your
business is likely to be a struggle.
4.5 How will you promote your product? For example, using advertising, PR, direct mail or via email and a
website.
4.6 What contribution to profit will each part of your business make?
• Most businesses need more than one product, more than one type of customer and more than one
distribution channel.
• Look at each in turn. Examine your likely sales, gross profit margins and costs.
• Identify where you expect to make your profits and where there may be scope to increase either
margins or sales.
Services and intangible products (eg computer software) are more difficult to market. Start-ups in these
areas must pay special attention to marketing in their business plans.
5 Management

People reading the business plan need to be given an idea of why they should have faith in the
management of your start-up operation.

5.1 Outline the management skills within your team.

• Define each management role and who will fill it.
• Show your strengths and outline how you will cope with any weaknesses.
• Describe the background and experience of each team member.
• Clarify how you intend to cover the key areas of production, sales, marketing, finance and
administration.
• Management information systems and procedures should be outlined. For example, management
accounts, sales, stock control and quality control.
• Show how many 'mentors' and other supporters you will have access to.
5.2 How committed are you?
• Banks and any other potential investors will want to be sure you are committed to the business.
Show how much time and money each of the management team will contribute, and what your
salaries and benefits will be.

6 Operations

Explain what facilities the business will have and how it will deliver the product or service to the customer.

6.1 Show the pros and cons of the location.

6.2 Indicate the facilities you will need to start (eg equipment and machinery). Some start-up businesses
only need a desk and a phone.
• Consider any potential limits to production capacity.
If you are going to manufacture or distribute products, show how and where you are going to warehouse
them and for how long.
6.3 Provide a list of employee roles you need to fill and the skills required to fill them.
6.4 Show how you selected your suppliers.
KEEP IT REAL

Sales forecasts produced for start-up businesses are often wildly over-optimistic. Here are some
important reality checks.

How soon can you start selling?

• Will potential customers hold off for a year before they take you seriously and place an order?
How often will you be able to sell?
• How many days can you spend selling?
• How long will each lead take to line up?
• What percentage of leads will turn into sales?
How much will you be able to sell?
• What will the average sale value be?
• Will most people give repeat orders, or must you find new customers each time?
How long after a sale will it be before you can collect payment?
How much income can you realistically expect each month?

7 Financial forecasts

Your financial forecasts translate what you have already said about your business into numbers.

7.1 A realistic sales forecast forms the basis for all your other figures.
• Break the total sales figure down into its components (eg different types of products or sales to
different types of buyer).
7.2 Your cashflow forecast shows how much money you expect to be flowing into and out of your bank
account and when. You must show that your business will have access to enough money to survive.
• Demonstrate that you have considered the key factors affecting cashflow - eg level and timing of
sales revenue, wages.
• Show when there will be more money coming in than going out ('cash-positive').
7.3 Your profit and loss (P&L) forecast gives a clear indication of how the business will move forward.
Summarise the annual P&L forecast for each of the two or three years of trading.
7.4 If you are launching a larger start-up, you will also need projected balance sheets.
These will show you the financial state of your business on day one and at year end, perhaps for the first
two or three years.

7.5 Do not get too protective about your forecasts. You may need to revise them.
For every forecast, list all your key assumptions (eg prices, sales volume, timing). Small business advisers
at banks, Business Link and Enterprise Agencies will often help you put together your forecasts free of
charge.

8 Financial requirements

The cashflow forecast will show how much finance the business needs. Your assessment of the risks will
determine whether or not you need to arrange contingency financing.

8.1 Say how much finance you will want, when and in what forms.
For example, you might want a fixed-interest loan and an overdraft facility.

8.2 State what the finance will be used for.

• Show how much will be for buying equipment and how much for working capital (financing stock
and debtors).
8.3 Confirm that you will be able to afford it.

9 Assessing the risks

9.1 Look at the business plan and isolate areas where something could go wrong (eg if your main supplier
closes down).
• What you would do if it actually happens?
9.2 Consider a range of what-if scenarios (eg what happens to your cashflow if sales are 20 per cent lower
or 15 per cent higher than forecast?) If there are serious risks:
• You can arrange contingency funding to cover the finance you may need.
• You may decide that the business is too risky and abandon the whole project.
Assessing risk will help you minimise problems and help build up your credibility with any investor or bank.

10 Appendices

10.1 Detailed financial forecasts (monthly sales, monthly cashflow, P&L) should usually be put in an
appendix.
• Include a detailed list of assumptions.
For example, the profit margin on each product, debtor collection period, creditor payment period, stock
turn, interest and exchange rates, equipment purchases.
10.2 You may want to give other relevant information.
• Detailed CVs of key personnel (essential if you are seeking outside funding).
• Market research data.
• Product literature or technical specs.
• Names of target customers.
 • A list of external data sources used in your research will add credibility to the information.

11 Presenting the plan

The more solid information you can gather for your own use, the better the business plan will be. But a
banker or other outsider will not have time to read through all the details.

11.1 Keep your business plan short.

• Most business plans are too long. Focus on what the reader needs to know.
11.2 Make it professional.
• Put a cover on the business plan and give it a title.
• Include a contents page.
11.3 Test it.
• Re-read it yourself. Would reading your plan give an outsider a good feel for your business and a
grasp of the key issues?
• Show the plan to friends and expert advisers and ask them for comments.
• Top of page

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