Describe and name your business and then identify the entrepreneurial qualities that will be necessary for you to have in order to successfully run your business. Make sure to comment on why these particular qualities will be necessary.

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Entrepreneurial qualities and legal forms of operations for a small business

Describe entrepreneurial qualities and legal forms of operations for a small business.

In your reading and learning activities, you examined entrepreneurial qualities and types of legal business organizations. In this assignment, you will apply what you learned previously from doing a feasibility analysis regarding your business idea to determine the best legal entity and the entrepreneurial qualities needed by the leadership for your startup business.

You will further develop the business startup idea that you focused on in your Unit 1 Journal. You may either invent a business or use your currently owned business. You may not use an existing company from the Internet. Every week, you will discuss different aspects of your business.

Think of a business that you might like to own. This does not need to be anything you will actually start, so it can be just a dream. It can also be something you think you would like to do sometime in the future. This can be a retail or service business, independently owned or corporate. You will use this imagined or real business throughout this course, so choose wisely as you will be required to use it for the duration of the term.

Describe and name your business and then identify the entrepreneurial qualities that will be necessary for you to have in order to successfully run your business. Make sure to comment on why these particular qualities will be necessary. Next, describe how best to organize your business. After completing your learning activity, you will need to choose the business entity that best suits your needs. Will it be a sole proprietorship, a partnership, a limited liability company (LLC), or a corporation? If incorporated, what type?

Your choice will be based on what you have read in the text on pages 154–167 and then practiced in your learning activity. You will need to choose the legal form of organization and describe why that particular type will be best for your dream or a real business. Also, note any possible drawbacks to your chosen business entity and explain how you might deal with those.

Finally, explain why at least two of the other business types would be less satisfactory.

Develop and describe your own startup business idea and then conduct a brief feasibility analysis by considering all of the following: market potential, industry attractiveness, and new venture leadership.

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Feasibility Analysis

Introduction:

After coming up with some ideas for a new business, entrepreneurs then screen those ideas to find the best idea. Finally, they perform a feasibility analysis to determine the viability of their business idea before they begin a business plan. You practiced feasibility analysis concepts in the learning activity.

As preparation for your assignment in Unit 2, develop and describe your own startup business idea and then conduct a brief feasibility analysis by considering all of the following: (1) market potential, (2) industry attractiveness, and (3) new venture leadership

Which organisation development model/method/technique would you apply in order to improve the situation and how would you proceed in practice?

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Organisational Development Plan

Your company decided to implement self-managing teams in its local branches. However, this has not been successful. The local managers, who have entrepreneurial mindset, have not been eager to give authority and decision making rights to the employee teams.

Six months after the change had been introduced, some branches have changed practices and managers have given a bit more authority to teams, but some branches have introduced schemes that further increase the amount of internal reporting and applying for permissions. Some employees say that ”it is a paradox that we were supposed to have more autonomy but are facing now more control and bureaucracy”.

Which organisation development model/method/technique would you apply in order to improve the situation and how would you proceed in practice?

Make an OD plan (600 – max 1000 words), defining and justifying your choice of OD method, describing your planned process (incl. roles and responsibilities) & how it follows the method, intended objectives/results and how you would evaluate whether you achieve them. Use graphs to visualize your plan, if possible.

Discuss the impact of effective communication on organisational success, with specific focus on the role of feedback.

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The impact of communication on organisational success

Discuss the impact of effective communication on organisational success, with specific focus on the role of feedback.

Analyse and evaluate the working capital management of the company. Critically analyse their current performance in comparison to previous years and competitors.

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Financial performance of Mitchells and Butlers

“You are an advisor for a client looking to invest £1million in the shares of Mitchells and Butlers (M&B). To fulfil this role, you are required to:

1. Analyse and evaluate the working capital management of the company.

2. Critically analyse their current performance in comparison to previous years and competitors.

3. Summarise the stated strategic aims presented in the annual report and critically discuss the potential impact on the future financial performance and position of Mitchells and Butlers (M&B).

With reference to financial and enterprise risks, critically debate the statement that:‘Restrictions may start to be lifted within the UK but the collapse of many more restaurants and pubs within the hospitality industry is inevitable in 2022 following the aftermath of the global covid19 pandemic , defying any enterprise risk management models and business innovations the sector will try to implement’.

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To assess the nature of contemporary risk and the broad framework within which it operates

“Over the last 2 years the hospitality industry has seen a dramatic change in the way they operate and tighter regulations and restrictions have meant many pubs and restaurants are struggling to survive with many getting into financial difficulties just to break even.

With reference to financial and enterprise risks, critically debate the statement that:‘Restrictions may start to be lifted within the UK but the collapse of many more restaurants and pubs within the hospitality industry is inevitable in 2022 following the aftermath of the global covid19 pandemic , defying any enterprise risk management models and business innovations the sector will try to implement’. You agree with the statement.

Identify a contemporary ‘corporate reputation’ issue and, upon completing a literature review, deconstruct the content and effectiveness of PR message strategies of a real-life organisation, across a range of media channels using a rhetorical analysis approach.

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Main parts

To identify a contemporary ‘corporate reputation’ issue and, upon completing a literature review, deconstruct the content and effectiveness of PR message strategies of a real-life organisation, across a range of media channels using a rhetorical analysis approach

Ability to write a Press Release dealing with a prescribed PR situation. You are require to write a one to one-and-a-half page (A4) press release. Your press release must be followed below.

Your press release should follow the approach and style guidelines discussed in class and in tutorials in the weeks leading up to the hand-in date. Marks are not given for precisely following rules (since practice varies) but for writing a press release which is fit for purpose overall. You should bear in mind:

 

  • Your press release should fill the page (and may be up to one-and-a-half pages, including editor’s notes).  Points should be grouped together into relatively short paragraphs, broadly following one or combining more than one of the templates used in class.

 

  • The writing style should be clear and succinct.

 

  • The document must be checked and corrected; it should convey a credible, authoritative impression of the organisation.

 

  • What you take to be the ‘headline’ (or most newsworthy) message line should come first, to attract attention and interest. You should arrange your various points in a suitable order and weigh up what the most important and positive points are.  You present each point in your own words.

 

  • Any given situation provides enough material for more than just one possible press release. So you have to choose what angle or angles to emphasise, and what sort of story to create. But remember that your aim is to improve the reputation of the organisation in question (so that it is seen in a way that it is likely to wish to be seen), not to damage it or to make it unhelpfully controversial, etc.

 

  • You should take special care in deciding how to present any points that you don’t particularly wish to draw attention to, but which you feel it would be unwise to omit altogether. They may be referred to obliquely, or clearly implied but not stated, etc.

 

To make the press release realistic, you are free to embellish the information with relevant extra details (e.g. places, amounts, dates and names, bits of background). But only do this where such points are needed. In assessing your work, some latitude will be given as regards this additional, made-up material – so long as you don’t undermine the scenario as given by inventing details or facts that fundamentally conflict with the situation as given

 

Explain the basis for market segmentation. You may apply geo-demographic classification by referring to ACORN, VALS, MOSAIC or other published sources, as appropriate. Identify specific target audiences for your marketing communications, e.g., new customers, existing customers, lapsed customers, competitor’s customers, etc.

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Assessment 2- individual integrated marketing communications campaign plan report

(2000 words excluding reference list and appendices)

 Based on logical Situation Analysis in assessment 1, you are required to develop a 2-month effective marketing communications campaign plan report for the period June to July 2022.

Note that you need to develop the campaign plan report for the same brand, product or service offering you chose for your assessment 1. Make sure that you apply relevant marketing communications concepts, theories and models, as appropriate.

Introduction

Based on Situation Analysis from your presentation material of assessment 1, briefly explain the purpose of your marketing communications campaign plan.

  1. Marketing communications objectives (Where do we want to go?)

Set quantifiable communications and sales objectives using appropriate metrics, KPIs and time scales based on chosen scenario. You may apply the SMART principle in setting objectives. Provide a rationale for choosing specific figures or percentages and also explain how your objectives were derived from your context analysis. Distinguish between the current- and desired- level of communications objectives by setting metrics e.g., to increase brand awareness from 10% (cite a source here) to 20% over a 2-month period from June to July 2022. Similarly, distinguish between the current- and desired- level of sales objectives by setting metrics, e.g., to increase market share from 5% (cite a source here) to 12% over a three-month period from June to July 2022.

 

  1.  Marketing communications strategy- STDP strategy (How do we get there?)

 

STDP stands for Segmentation, Targeting, Differentiation and Positioning. You need to craft a marketing communications strategy explaining the key components of your strategy.

Explain the basis for market segmentation. You may apply geo-demographic classification by referring to ACORN, VALS, MOSAIC or other published sources, as appropriate.

Identify specific target audiences for your marketing communications, e.g., new customers, existing customers, lapsed customers, competitor’s customers, etc.

Buyer persona- you need to develop buyer persona for your chosen target audience providing relevant details of your buyer persona. Explain how your chosen brand, product or service offering meet the needs of your target audience. Your buyer persona need to reflect diverse cultures.

Compare and contrast the point of parity (POP) and point of difference (POD) of your chosen brand, product or service offering against its direct competitors. Doing such a comparison, will enable you to identify specific and targeted value proposition i.e., unique selling proposition (USP) or emotional selling proposition (ESP).

You need to prepare your own perceptual map distinguishing between the current and desired positioning of your brand, product or service offering. Explain how your perceptual map has been derived from the situation analysis.

  1. Creative strategy (How do we get there?)

Explain clearly your message strategy such as key messages, mandatory guidelines, etc.

Explain your creative idea, creative appeal and execution strategy and provide details of how your creative idea and execution have been derived from the context analysis and campaign objectives.

Note that execution refers to the way in which your creative idea/ concept is visually and verbally executed. 

 

  1. Promotion mix and media selection (How exactly do we get there?)

5.1 Assess the communication environment based on category spending, available media mix, competitive parity in relation to share of market and share of voice (how much a company should be heard/seen compared to its competitors.

 

5.2 Define specific sub-target groups within your main target groups. You need to classify subgroups not only based on age but more importantly on other criteria such as product preferences, media consumption habits. etc. You need to clarify how your subgroups are related to your target audiences.

 

5.3 Set quantifiable media objectives and demonstrate how each media objective is related to each marketing communication objective i.e., communications objective and sales objective. You may set your media objectives based on reach, frequency, Gross Reach Point, etc. For example, to achieve your desired level of brand awareness how many people from your sub-groups do you need to reach and how frequently do you intend to reach them?

 

5.4 Explain and justify your choice of promotion mix (e.g., advertising, public relations, sales promotion, etc.) and media mix. Here, you need to justify that your subgroups interact with your chosen media mix and media vehicles. You need to consider the full range of available traditional and media tools and channels. You may present your promotion mix and media choice by form (e.g., promotion tool- advertising, media class- broadcast, channel-TV and vehicle – X Factor in Channel 4). You may use a table to demonstrate the link between your specific marketing communication objective (communication objectives and sales objective), media objective, chosen subgroups, stages of consumer decision process (e.g., creating awareness, knowledge, liking, purchase, etc.) and media choice.

  1. Campaign implementation (How exactly do we get there?)

Using a Gantt chart illustrate the weekly activities in relation to specific promotion tool, media channels and vehicles deployed. Please explain key contents of the Gantt chart.

  1. Measures of campaign outcomes (How do we monitor performance-Are we getting there?)

Build in a review process to your campaign plans and set control systems that let you know whether you are on target to achieve the marketing communications objectives (communications objectives and sales objectives) you set earlier and schedule for regular monitoring. Explain how you intend to achieve your communication and sales objectives within two months by setting weekly key performance indicators (KPIs). Also, explain your contingency plans.

  1. Setting indicative campaign budget

Set indicative budget for the creative strategy, media mix, campaign implementation, monitoring performance and contingency plans. Please justify your allocation of specific budget.

Identify one industry from the UK Standard Industrial Classification (SIC 2007) and choose a UK public limited company (PLC) from the industry. Identify the microeconomic factors that affect the demand for goods and/or services of your chosen company and the factors for the market demand. Draw a demand curve diagram to illustrate your answer.

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Understanding the Business and Economic Environment

2021/22 Spring Term

Individual Coursework Instruction

The performance of students is assessed by the assessment method – ‘Individual Coursework’ as appropriate to the level and learning outcome of the assessment protocol. The individual coursework constitutes 100% assessment weighting for this module. Students are required to write an individual coursework/essay (1450-1500 words) by discussing the following questions.

  • Identify one industry from the UK Standard Industrial Classification (SIC 2007) and choose a UK public limited company (PLC) from the industry. [5 Marks]
  • One of the most important and influential elements of the business environment is the structure of the industry. Briefly discuss the structure of your chosen industry.  [5 Marks]
  • Briefly discuss the business organisation and its nature of your chosen company (a UK PLC) in relation to the structure of the industry. [5 Marks]
  • Use the Social, Technological, Economical, Environmental, Political, Legal and Ethical (STEEPLE) analysis to analyse the external business environment of the chosen company over the last 5-10 years. Students are expected to discuss each factor separately, for example, consider in what ways technology (T) might influence the organisational structure of a business. Students must discuss the four bullet points listed as below for the microeconomic and macroeconomic factors, and are allowed to extend their discussions beyond the four bullet points:

Social factor analysis             [10 Marks]

Technological factor analysis      [10 Marks]

Environmental factor analysis      [10 Marks]

Political factor analysis             [10 Marks]

Legal factor analysis          [10 Marks]

Ethical factor analysis      [10 Marks]

Economical factor analysis (see the suggested marks from the bullet points below)

  • Identify the microeconomic factors that affect the demand for goods and/or services of your chosen company and the factors for the market demand. Draw a demand curve diagram to illustrate your answer. [5 Marks]
  • List the determinants of the supply of the business and identify what would cause the supply of goods and/or services to fall/rise. Draw a supply curve diagram to illustrate your answer. [5 Marks]
  • Discuss the competitiveness of the UK market and its impacts on the future of the business. [5 Marks]
  • Give some examples of ‘random shocks’ that could undermine the UK government’s fiscal policy and discuss if there is any fiscal policy could have an impact on the UK’s economy and the business of your chosen company. [5 Marks]
  • Research and discuss the business problems and challenges the chosen company faces and criticise on the external effects of a business decision on themselves/customers/employees/rivals and on the public at large. [5 Marks]

[Total Marks: 100]

It is recommended to write your essay with the structure of:

  • Cover Page with your student ID, Module Code and Name, Date for Submission, Word Counts
  • Introduction
  • Main Body used for answering these questions
  • Conclusion
  • References
  • Appendix (not compulsory)

 Assessment Instructions:

  • The individual coursework deadline
  • Submission of coursework must be electronically online on Turnitin Assessment System, available on – ‘Online Submission’.
  • I expect your individual coursework is at a minimum 1450 words and a maximum 1500 words (including in-text references, but excluding end-text references, tables, figures, Appendix).
  • Sources of information must be included and referenced in your discussion as well as the date obtained.
  • Points and/or arguments presented and made should be substantiated with data/evidence. I am interested in your own views but it should be clear through the referencing system whether they are personal or evidenced by the views/data of others.
  • A bibliography should be included using the Harvard system. This at least entails that every reference included in the bibliography is referenced in the main body of the text and that there are no references included in the bibliography that are not mentioned in the main body.
  • Clarity of expression – please pass through MS Word ’Spelling & Grammar’ or equivalent.
  • Plagiarism means presenting another person’s work as your own. Some examples of it are:
    • The inclusion in a student’s assignment of more than a single phrase from another person’s work without the use of quotation marks and due acknowledgement of the source.
    • The summarizing of another’s work by simply changing a few words or altering the order of presentation, without proper acknowledgement.
    • The use of the ideas or intellectual data of another person without acknowledgement of the source or the submission or presentation of work as if it were the student’s, when in fact they are substantially the ideas or intellectual data of another person.
    • Copying the work of another person (be it a co-student or any other source), including figures, text, etc. 
Students are rightly expected to draw upon other people’s ideas but in an appropriate manner. Students will certainly use books and journals to assist with their studies and in students may have access to other people’s work on computer disk or over a computer network. When undertaking coursework assignments they may legitimately make reference to publication made by others. 
However, other people’s work must be used in a principled way, with due acknowledgement of authorship. Students, in acknowledgement of the work of others must use a recognized standard and for business students this is the Harvard system of referencing.
The consequences of plagiarism are extremely serious. This should be borne in mind at all times and especially when students are completing their assignments. In cases of plagiarism and other forms of cheating, University regulations will be strictly applied. If you have any concerns about plagiarism, you must discuss them with your lecturer or seminar tutor before submitting your final work for marking.

Provide your overview of the two countries’ performance in the chosen industry. Explain the determinants of the countries’ competitiveness: analysis of national competitive advantages with their endowments; macro-economic conditions; micro-economic conditions and relevant institutional and resource factors via Porter’s diamond model.

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Comparative Business Studies


A Comparative Country Analysis: 2,500-word limit

Introduction:
You are to prepare and submit, via SurreyLearn, a comparative country analysis of both country and industrial level research and application of taught theory, taken from this model on one of the four available subject sets below. The critical model to be applied to this analysis is Porter’s Diamond Model (1990), but you are to support your work with additional theory presented to you during the module. All theory is to act as a lens, so that you may explore, understand, and explain the competitive advantages of the two countries that you have chosen, against the single industry sector that both nations possess.

You have a choice of one specific industry i.e., automotive, financial, clothing industry etc. and then two countries that have competitive advantages in that specific sector. You are to select from ONE of possible choices below:
1. Brazil, Canada, and the Aerospace Industry
2. Japan, USA, and the (Video) Gaming Industry
3. Singapore, United Kingdom, and the Financial Services Industry
4. Switzerland, Sweden, and the Pharmaceutical Industry

The choices might be limited by the module leader, but the extent of your research is your own. Importantly, the information you gather about the chosen countries and industry sector must be publicly available and available in English, so that it can be shared with the assessor. Collect the required secondary data on the two chosen countries and the industry operations from valid sources such as Global Competitiveness Report, Economist Intelligence Unit, Human Development Report of OECD, industry specific databases, academic journal articles (e.g., Journal of International Business Studies and Journal of World Business) or government official reports. Use this collected data about the countries and industry to:

• Present your analysis of the chosen industry (e.g., CAGR; industry cluster; industry report-growth, trends and forecast etc.).

• Provide your overview of the two countries’ performance in the chosen industry (e.g., GDP contributions; major export industry in the nation etc.).

• Explain the determinants of the countries’ competitiveness: analysis of national competitive advantages with their endowments; macro-economic conditions; micro-economic conditions and relevant institutional and resource factors via Porter’s diamond model.

• Make your recommendations for greater competitiveness. You need to enrich these factual data from the countries and industry with relevant theoretical discussions e.g., culture, national business systems, Heckscher-Ohlin modelling, institutional typology etc. and apply them with Porter’s Diamond Framework which involves 6 elements: