Arab Open University Faculty of Business Studies Exploring Innovation and Entrepreneurship B205A -Spring Semester 2020-2021 Tutor Marked Assessment I. TMA Topic overview: Business Plan / Part A One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this TMA is to select a … Continue reading “Exploring Innovation and Entrepreneurship | My Assignment Tutor”
Arab Open University Faculty of Business Studies Exploring Innovation and Entrepreneurship B205A -Spring Semester 2020-2021 Tutor Marked Assessment I. TMA Topic overview: Business Plan / Part A One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this TMA is to select a business idea and create a part of a business plan (the second part of your business plan / Part B will be your TMA for B205B which will be the extension of this TMA). Writing a business plan requires you to ask tough questions about the nature of the business. What are the benefits of your product or service?What is the target market and how will you penetrate it? II. TMA components The Written Plan: The body of the written business plan (Part A) should be no more than 6 pages. Plans must include an explanation of the offering to investors that indicates the investment required, and management team description. (a detailed guideline is provided at the end of your TMA). Cover PageTable of contentsDescription of the businessDescription of the marketDescription of the product / Service III. TMA Requirements This TMA consists of 20% of your total course grade. It is a team project. Each team will consist of 4-5 students. The initial task of your team is to select and propose a business idea to the instructor for approval.Students should arrange with their tutors in order to verify that no other team had selected the same idea for the project. 1. TMA Paper (maximum 6 pages-Times new Roman 12 Font) Each team will work on the TMA paper as they would normally do with other courses, but this time in groups. This is a good opportunity for students to learn a set of skills that are very important in the professional business world, such as team work, time management, planning, communicating with others, etc.Each team is required to select a team leader. The TMA paper should be uploaded to the LMS by the team leader only. This is a very important requirement in order to avoid Turnitin similarities.The names of all the team members should be written on the pt3 form, including the name of the team leader. All team members will receive the same mark on the TMA essay paper. Students are required to use the pt3 form provided on the LMS for this specific TMA.Students are expected to make sure the written TMA meets the following criteria:Plagiarism: It’s imperative that team members write the TMA using their own words. Plagiarism will be penalized depending on its severity and according to AOU plagiarism policy.Format: team members are expected to write using the business plan format provided in the guide below. Failing to use a proper format could result in the deduction of up to 5 marks from the total TMA paper mark.Word count: TMAs are expected to be within the specified paper count. Not adhering to specified page count could result in the deduction of up to 5 marks of the total TMA paper mark.Referencing: team members are expected to reference their work and list their references at the end. Proper referencing of sites is recommended. Failing to do so could result in the deduction of up to 5 marks of the total TMA paper mark.Resources: team members are expected to use E sources to support their answers. A minimum of 3 sources is required. Failing to do so could result in the deduction of up to 5 marks of the total TMA paper mark. BUSINESS PLAN GUIDE- B205A There is no single best way to write a business plan; the task will evolve in a way that suits you and your situation. The Business Plan Guide shows how to present information succinctly and in a format acceptable to investors. Although it is useful to keep in mind who your audience is and that information not clearly presented will most likely not be used, it also is important not to be concerned just with format. The Business Plan Guide indicates specific issues and shows you what needs to be included in a business plan and why. As you proceed through the Business Plan Guide, remember that statements need to be supported with data whenever possible. Note also that it is sometimes easier to present data in graphic, visual form. Include the source of all data, the methods and / or assumptions used, and the credentials of people doing research. Remember that the Business Plan Guide is just that—a guide. It is intended to be applicable to a wide range of product and service businesses. Common sense should rule in applying the guide to your specific venture. I. Cover The cover page includes the name of the company, its address, its telephone number, the date, and the securities offered. Usually the name, address, telephone number, and the date are centered at the top of the page and the securities offered are listed at the bottom. Also suggested on the cover page at the bottom is the following text: This business plan has been submitted on a confidential basis solely for the benefit of selected, highly qualified investors in connection with the private placement of the above securities and is not for use by any other persons. Neither may it be reproduced, stored, or copied in any form. By accepting delivery of this plan, the recipient agrees to return this copy to the corporation at the address listed above if the recipient does not undertake to subscribe to the offering. Do not copy, fax, reproduce, or distribute without permission. II. Table of Contents Included in the table of contents is a list of the sections, subsections, and any appendixes, and the pages on which they can be found. III. The Industry and the Company and Its Product(s) or Service(s) A major area of consideration is the company, its concept for its product(s) and service(s), and its interface with the industry in which it will be competing. Information needs to include a description of the industry, a description of the concept, a description of your company, and a description of the product(s) or service(s) you will offer, the proprietary position of these product(s) or service(s), their potential advantages, and entry and growth strategy for the product(s) or service(s). A. The industry. Present the current status and prospects for the industry in which the proposed business will operate. Be sure to consider industry structure. Discuss briefly market size, growth trends, and competitors. Discuss any new products or developments, new markets and customers, new requirements, new entrants and exits, and any other national or economic trends and factors that could affect the venture’s business positively or negatively. Discuss the environmental profile of the industry. Consider energy requirements, supply chain factors, waste generation, and recycling capabilities. Outline any new green technologies or trends that may have an impact on this opportunity. B. The company and the concept. Describe generally the concept of the business, what business your company is in or intends to enter, what product(s) or service(s) it will offer, and who are or will be its principal customers. By way of background, give the date your venture was incorporated and describe the identification and development of its products and the involvement of the company’s principals in that development. If your company has been in business for several years and is seeking expansion financing, review its history and cite its prior sales and profit performance. If your company has had setbacks or losses in prior years, discuss these and emphasize current and future efforts to prevent a recurrence of these difficulties and to improve your company’s performance. C. The product(s) or service(s). Describe in some detail each product or service to be sold. Discuss the application of the product or service and describe the primary end use as well as any significant secondary applications. Articulate how you will solve a problem, relieve pain, or provide a benefit or needed service. Describe the service or product delivery system. Emphasize any unique features of the product or service and how these will create or add significant value; also, highlight any differences between what is currently on the market and what you will offer that will account for your market penetration. Be sure to describe how value will be added to the customer. Include a description of any possible drawbacks (including problems with obsolescence) of the product or service. Define the present state of development of the product or service and how much time and money will be required to fully develop, test, and introduce the product or service. Provide a summary of the functional specifications and photographs, if available, of the product. Discuss any head start you might have that would enable you to achieve a favored or entrenched position in the industry. Describe any features of the product or service that give it an “unfair” advantage over the competition. Describe any patents, trade secrets, or other proprietary features of the product or service. Discuss any opportunities for the expansion of the product line or the development of related products or services. (Emphasize opportunities and explain how you will take advantage of them.)
