| Category | Assignment | Subject | Business |
|---|---|---|---|
| University | Birmingham City University | Module Title | BUS7095 Business and Management Research Project Option 4 (Business Plan) |
| Word Count | 6000 Words |
|---|---|
| Assessment Type | Report |
By the end of this module, students will be able to:
1. Assessment Overview
2. Assessment Structure
3. Planning your Business Plan
4. Assigned Tutor and Student Roles and Expectations
5. Keeping Records
6. Ethics
7. Business Plan Structure
8. Turnitin and Avoiding Plagiarism
9. Final issues
10. Arrangements for Resubmitting Students
References (with BCU Library links)
Appendix 1: Indicative Business Proposal Assessment Checklist and Marking Scheme
Appendix 2: Indicative Assessment Checklist and Indicative Marking Scheme for the Business Plan
Appendix 3: Research Ethics Protocol
This assessment brief provides the practical and theoretical focus for the Entrepreneurship pathway and is the culmination of the programme of study that requires you to undertake a piece of independent research that links theory to practice.
As a student on the MSc Management and Entrepreneurship pathway, you have been given the option to develop a comprehensive business plan project in an industry/market area of your choice and self-appraise your entrepreneurship skills and suitability to implement it through a reflective diagnostic account. You will be expected to develop a real business concept and take it through to a finished business plan. This will require detailed marketing, operations and financial analysis and creation of a convincing and robust business model, strategy and plan based on primary and secondary research.
You will be expected to critically appraise and evaluate the existing academic literature in your field of application and evaluate your proposed business plan against published academic best practice in key areas of finance, marketing, operations and human resources, providing the academic rigour required for a project at Master's level, contributing to the core vision of the programme pathway.
This module will enable you to build on and develop your professional management skills, such as project management, problem solving, critical analysis and synthesis of data. You will receive
significant support through access to an allocated tutor, providing opportunities for feedback through one-to-one and group interaction.
To pass this module, you must achieve a final overall mark of at least 50%. Failure to achieve a pass after the second attempt will result in the student being withdrawn from the course.
The Module is assessed using a business proposal and a final report (business plan). The business proposal should be submitted as a single electronic file via Moodle by 9 am on Monday, 1st July 2024. The final report should be submitted as a single electronic file via Moodle by midday on Wednesday, 4th September 2024.
The maximum word count for the business proposal is 2,000 words. The maximum word count for the finale report is 6,000 words. Penalties are only applied on submissions over 10% longer than these maximum figures. Parts of these submissions are not included in the word count. For the proposal, the word count can be calculated by counting the number of words from the start of the introduction to the end of the schedule. For the final report, the word count can be calculated by counting the number of words from the start of the introduction to the end of the reflective chapter (immediately before the reference list and appendices). Tables should be presented in text format as they are included in the word count. Figures should be presented in image format and are not included in the word count.
The word limit is for your coursework assignment, and does not cover material submitted as an appendix. Material submitted as an appendix provides background for your coursework, but it will not be marked unless specified in the brief. Also, it is important that you cross-reference between the main text of your assignment and any appendices, to demonstrate the linkage and that the appendices do not constitute additional material unrelated to that included in the body of your assignment. If you do not refer to this work in an Appendix, then this included work will not be marked.
Your reference list will not be included in the word count, but your in-text citations used in the main body of the assignment (e.g. Smith and Jones (2010) identified that…) will be included.
You are required to declare the number of words used in your assignment. There is no fixed penalty for exceeding the word count, but your marker will not consider any work after the +10% word count tolerance has been reached within the allocation of marks. You may therefore be penalised for a failure to be concise and for failing to submit your work within the word count specified.
Students are required to produce a 2,000-word business proposal for their chosen business area. This will be given a mark which will count as 20% of the overall project mark.
The business proposal should be submitted electronically via Moodle by 9 am on Monday, 1st July 2024. The Proposal is a development of your initial business idea and will take the format of an Introduction (Background, Problem Analysis, Proposed Solution, Value Proposition, Target Customers, Business Goals and Objectives), Outline Business Model, Industry Analysis, Plan for Market Positioning and Finances, Outline Operational Plan, a Project Development Plan (Gantt chart or similar), and a Draft Ethics Request Form.
See Appendix 1 for the detailed requirements of the Business Proposal.
The final report Business Plan contains the details of how you will start and sustain a new venture over three years. As such, it should contain the following elements:
A thorough examination and demonstration of the feasibility of your opportunity (technological, legal, financial, market and industry feasibility, operational feasibility):
Define the legal structure for the business activity.
Outline the management structure, human resources and organisational structure
Provide a start-up budget, sales forecast, balance sheet and cash flow for the first three years;
Detail, with a thorough and convincing rationale, the recommended marketing strategy
Provide an operational plan
Present the business model and value creation for all stakeholders
Discuss the risks and rewards of the business idea.
Provide a reflective account
You are required to create a project plan for creating your business plan to guide you right from the outset. Essentially, this plan is an outline of what you intend to do, chapter-by-chapter, and therefore should reflect the business goals and objectives of your business plan.
There are several reasons for having a plan:
Finally, your project plan generally provides a revision point in the development of your business plan in order to allow appropriate changes in the scope and even direction of your work as it progresses.
Your project plan should be included in your business proposal as an appendix in your final report, where it scores towards your reflective account mark.
All students are assigned a tutor who will probably be one of the tutors in their seminar class. Most interaction will take place verbally within the seminar classes, but you are also permitted to email your assigned tutor, and you may receive some written feedback from them.
This includes:
Note: The responsibility for completing the research paper on time remains solely with you, not with your assigned tutor.
Note: Students who persistently fail to engage with the seminar classes will not be entitled to written feedback, as this would create an additional burden on the assigned tutors who are available for 36 hours to provide verbal feedback to the students who attend.
Make a note of everything you read, including that you later discard:
It is important to ensure your research paper is conducted ethically. The following points offer a good checklist.
Note: Do not create fake data, as this could lead to a Category A Academic Misconduct concern being raised against you, which could lead to a significant delay in obtaining your results, even if you are found “not guilty”
All students are required to complete the Application for Ethical Approval form (even for secondary data only business plans). This blank form is available on the module Moodle site.
You are required to submit a draft form with your business proposal. This may need to be modified according to the feedback you receive. You should continue this process until your assigned tutor agrees to sign your form.
You are not permitted to collect primary data until your form is approved. When your ethics request passes, the approved version of the ethics form will be uploaded in the grading area on Moodle. Your signed form should also be included as an appendix to your final report, as it goes towards your final mark.
If, at a later stage, you choose to change your topic or adapt it in a way that your ethics form no longer covers the research you are intending to carry out, then you will need to reapply for ethics approval.
The specific structure of the submission is specified below. The main headings are provided together with a list that acts as an assessment ‘checklist’. Marks allocated to each section are indicated as percentages. The overall mark equals 100%.
As the overall wordcount for the business plan is 6,000 and the separate marks for the signed ethics form are 5%, you may assume that the suggested wordcount for each section is 630 words for every 10%. For example, as the executive summary and introduction count for 15% of the total mark, it should be approximately 950 words long.
Title Page:
Project Title
Student name and ID number Award Title
Date of Submission Allocated Tutor Name
School, Faculty and University Name
1. Executive Summary and Introduction (15%)
Presentation of a unique proposed business start-up, including an analysis of the customer problem and the proposed solution, incorporating unique selling points (you may base this on your business proposal submission)
Benefits oriented value proposition(s) and target customer(s)
Business goals and objectives
Summary of:
2. Business model (10%)
3. Industry analysis (including review of appropriate academic literature applied) (15%)
4. Market positioning and market analysis (including review of appropriate academic literature applied) with concise marketing plan and strategy (15%)
5. Financial plan (with analysis) and risk analysis (15%) to include:
6. Operational plan - with legal and technological feasibility with rationale and evidence (15%) to include:
7. Reflective Diagnostic, Analysis, and Development Plan (10%) to include:
You are required to provide a commentary and reflective analysis on the process of undertaking research projects. This counts as 10% of your final mark. It should include a self-reflection on professional development issues, identifying areas of strength and areas to improve upon related to research and project management.
Your account needs to go beyond an account of what you did and should include critical reflection on how you have developed as a researcher through doing your Business and Management Research Project and how you hope to apply and further develop your new ability in the future as a researcher or as a management professional, such as in the form of a development plan. You should use a model for structuring your critical reflection, such as the what, so what, now what model by Driscoll and Teh (2001).
You should also include your revised project plan (e.g. Gantt chart) as an appendix as this counts towards this mark.
8. Completed ethics request form (5%)
Signed by you and your assigned tutor (not included in the word count).
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Buy Today Contact UsIt will be assumed that future students can have access to your work for reference unless you state clearly on the title page that your report is confidential. However, you would still be asked for permission.
In exceptional cases, you may be asked to attend a “viva voce” examination. This is an oral examination in which you will be allowed to demonstrate the breadth and depth of your understanding of your research paper, perhaps in a way that has not been communicated effectively in your written work. This is particularly relevant to students who fail to engage adequately with the computer classes. These classes are designed to provide you with an opportunity to develop your proposal and final report in a supervised environment. If your assigned tutor has concerns about whether you wrote your final report, then they may recommend that you be asked to attend a viva to confirm that the research in your report is genuinely your own work.
The viva examinations are normally held before the Examination Board and may be conducted via MS Teams or similar software.
Students who fail to obtain at least the pass mark of 50% overall will need to resubmit the element(s) for which they failed to score 50% (i.e. either business proposal, or the final report, or both). All the previously listed submission requirements apply to resubmitting students. The resubmission date is midday on Wednesday, 4th December 2024. Resubmissions are made electronically using a different submission point on the same Moodle site.
Students who obtain an overall mark between 35% and 49% will be expected to resubmit a revised and improved version of the same topic. They will be entitled to ONE meeting with their allocated tutor to discuss the improvements required and may submit ONE draft of the improved version to their allocated tutor for comment (or equivalent remote support). These students are required to re-work their existing dissertation and are entitled to attend a face-to-face tutorial for feedback on the failed dissertation and a second face-to-face tutorial to obtain feedback on a revised draft before final submission (or equivalent remote support).
Please note that if you achieve an overall less than 35% it is highly recommended that you resit by submitting a new business idea. In this scenario, you are advised to submit a new business proposal, irrespective of whether or not this element passed or failed in your first submission. This should be included as an appendix in the new business plan.
If you choose to change your topic or adapt it in a way that your ethics form no longer covers the research you intend to carry out, then you will need to reapply for ethics approval, following the same process as already explained.
The word count is 2,000 measured from the start of the introduction to the end of the project plan.
Title, Background and Problem Analysis (10%). A clear and critical understanding of your chosen business idea. This idea must be both worthwhile and relevant as reflected by:
Solution, Value Proposition and Business Goal (10%):
Outline Business Model (15%):
Outline Industry Analysis (15%):
Plan for Market Positioning and Finances (15%):
Outline Operational Plan (10%):
Project Development Plan (10%). A short narrative providing an appreciation of your research’s feasibility within the time frame available to you. A schedule using a Gantt chart or similar graphical device showing activities to be undertaken at specific times. Note: This should not simply be copied and pasted from the sample Gantt chart provided, but demonstrate personalisation and interpretation.
Completed ethics request form (10%) – signed by you but not by your assigned tutor; not included in the word count. If you are collecting primary data, you also need to complete a Participant Information Sheet and attach it as an appendix. If you are using secondary data, you need to include a statement of your data source using the template provided.
Structure, grammar, academic writing style, referencing and presentation (5%)
The word limit excludes the title page, contents list, references, ethics request form and any other appendices.
The wordcount is 6,000 measured from the start of the introduction to the end of the reflective account.
Presentation of a unique proposed business start-up, including an analysis of the customer problem and the proposed solution, incorporating unique selling points.
Benefits oriented value proposition(s) and target customer(s)
Business goals and objectives
Summary of:
A review of the academic literature with regard to business modelling and its relevance to your business idea
A detailed business model of your proposed business idea
To include an analysis of recent trends and future projections for the chosen industry and subsector(s) using appropriate models and frameworks for industry analysis;
Integration of relevant academic literature into the industry analysis
Conclusion on industry feasibility
Discussion of industry risks
Explain the chosen market positioning based on the evidence of consumer/ buyer behaviour in the past, present and future, from findings from secondary and primary market research using appropriate marketing and strategy models;
Define the market feasibility of the project
Discuss an appropriate marketing strategy and tactical marketing plan (including costs); Discussion of market risks
Start-up budget
Cash flow for three years – explained in detail. Balance sheet – explained and justified in detail
Sales Forecast - explained and justified in detail
Funding sources and revenue streams
Cost structure and approach to costings
Assessment of financial risks, their likelihood and potential impact
Discussion of ways to minimise those risks, reduce their likelihood and/or impact when they happen
An overall conclusion on the risks and their possible uniqueness for this type of business, and how / if insurance can address them, and how they have been addressed in designing operations and business set-up;
Pricing strategy/strategies for each product/service; Financial feasibility and break-even point analysis
An explanation of the chosen legal structure for the business activity and its compliance with necessary laws, regulations and licenses;
Outline organisational structure and staffing at start-up to year three of trading;
An explanation of the technology chosen and used in the business, from start-up to year three of trading
A discussion of the chosen mode of operations (online, temporary or permanent premises and any combination of those);
Choice of business location where appropriate;
An outline of the key business processes – the internal business processes from receiving an order, AND the customer journey using appropriate visualisation tools.
Demonstration of self-diagnosing entrepreneurial traits and skills, and leadership abilities and evaluating them in relation to the academic literature and the key decisions made during the development of the business idea.
Evidence of ongoing self-review of entrepreneurial capability linked to a personal development plan, including an action plan
Inclusion of a project plan (e.g. Gantt chart) as an appendix
Signed by you and your assigned tutor (not included in the word count).
|
Overall Marks |
LO1: Formulate, design, and justify a business and management research project, including its aims, scope and objectives. |
LO2: Identify and appraise ethical challenges relating to the research design. Secure ethical approval for the research project, and ensure that it is conducted in line with BCU policies and the norms of business and management research. |
LO3: Self-manage the development of the research, using rigorous research and project management techniques, and critically appraise the work undertaken, to facilitate improvements in personal research and project practice. |
LO4: Critically evaluate and synthesise current business and management theory, which is at the forefront of the academic discipline, and is relevant for the course and the particular topic, case or organisation under investigation. |
LO5: Assemble and source valid business data which will support the requirements of the project aims, scope and objectives. |
LO6: Professionally present the outcomes of the project, including drawing appropriate, original, evidence-based conclusions. Provide recommendations and guidance for business decision-making in the chosen discipline. |
|
80–100% Distinction |
The summary and introduction are exceptionally well written. The link between the market position, industry analysis, value proposition and business model/objectives/goals plus your fit demonstrates a highly sophisticated and convincing understanding of the entire business. |
A completed ethics form has been provided which has been approved. |
There is exceptional evidence of insightful reflective practice linked to the key decisions made during the development of the business idea, incorporating a highly professional and sophisticated assessment of personal traits, skills and leadership in relation to the academic literature and identification of a comprehensive personal development plan and action plan |
The literature review is comprehensive with excellent critical evaluation and conclusions. The Business Model is totally convincing, exceptionally articulated and supported un- equivocally by the literature, utilising relevant key concepts and frameworks. The market analysis is exceptionally thorough, utilising all of the relevant frameworks required, to provide a rich and insightful evaluation of the industry's feasibility and risks |
The market positioning and analysis is highly sophisticated clearly applying all relevant marketing models appropriately. There are explicit links to integrate the analysis with other sections of the report. Demand analysis includes comprehensive primary and secondary sources, reported on in detail leading to a very high level of confidence in the market feasibility. Positioning is exceptionally well presented leading to a totally convincing and detailed marketing plan, costing and risk analysis. |
All key financial elements have been clearly identified and covered to an exceptional level of detail. The plan demonstrates a sophisticated and complex understanding of the financial issues faced by the business and its financial feasibility. The Operational Plan includes all the key elements including clearly demonstrating the legal and technological feasibility. All key operational processes, structures, systems and modes, including the customer journey, are described and evaluated to an exceptional level of detail, clearly demonstrating a totally convincing and sophisticated understanding of the business. Outstanding project structure and report, use of language and presentation with full and accurate Harvard referencing. |
|
70-79% Distinction |
All key elements identified. Overall the link between the market position, industry analysis, value proposition and business model/objectives/goals plus your fit with them has been linked excellently providing a very articulate summary. |
There is detailed evidence of significant reflective practice linked to the key decisions made during the development of the business idea, incorporating a sophisticated assessment of personal traits, skills and leadership in relation to the academic literature and identification of a comprehensive personal development plan and action plan. |
The literature is cogently described and evaluated with good critique and conclusions identifying the advantages and disadvantages of different approaches, clearly making a case for using a specific framework in relation to the business model developed. The Business Model demonstrates a good understanding of the Business Idea, is highly detailed and very convincing. The market analysis is very thorough, using all of the relevant frameworks required, providing unique insight into the industry's feasibility and risks |
The market positioning and is excellent, clearly applying marketing models appropriately. There are explicit links to integrate the analysis with other sections of the report. Demand analysis includes comprehensive primary and secondary sources, reported on in detail leading to a very high level of confidence in the market feasibility. Positioning is concisely presented leading to a convincing detailed marketing plan, costing and risk analysis. |
All key financial elements have been clearly identified and covered to a high level of detail. The plan demonstrates an excellent understanding of the financial issues faced by the business and its financial feasibility. The Operational Plan includes all the key elements including clearly demonstrating the legal and technological feasibility. All key operational processes, structures, systems and modes, including the customer journey, are described and evaluated to an excellent level of detail, clearly demonstrating a sophisticated understanding. Good Structure, very good presentation and use of language with full and accurate Harvard referencing. |
|
60-69% Commendation |
All key elements identified. Overall the link between the market position, industry analysis, value proposition and business model/objectives/goals plus your fit with them is summarised very well and logically. |
There is clear evidence of significant reflective practice linked to the key decisions made during the development of the business idea, incorporating the assessment of personal traits and skills in relation to the academic literature and identification of a personal development plan and action plan. |
The literature is cogently evaluated with some critique and useful conclusions related to the business model. The business model is clearly justified and supported by the literature. The market analysis is quite thorough, using most of the relevant frameworks required, providing good insight into the industry's feasibility and risks. |
The market positioning and analysis, using appropriate marketing models, is good with clear integration with other sections of the report. Demand analysis includes both primary and secondary sources, reported on in detai leading to confidence in the market feasibility. Positioning is concisely presented leading to a convincing marketing plan, costing and risk analysis. |
All key financial elements have been identified and covered to a good level of detail. The plan demonstrates a coherent understanding of the financial issues faced by the business and its financial feasibility. The Operational Plan includes all the key elements including legal and technological feasibility. Important operational processes, structures, systems and modes, including the customer journey, are described and evaluated to a good level of detail. Good structure, presentation and use of language with full and largely accurate Harvard referencing |
|
50-59% Pass |
Most key elements identified. Overall the link between the market position, industry analysis, value proposition and business model/objectives/goals plus your fit with them is summarised appropriately and logically. |
There is clear evidence of some reflection linked to key business development decisions, incorporating the assessment of personal traits and skills in relation to the academic literature and identification of a personal development plan. |
A literature review is provided but lacks relevance and critical analysis/evaluation in places. The business model appears to be satisfactorily justified and supported by the literature and in sufficient detail. The market analysis is reasonably thorough, using some of the frameworks required, providing some insight into the industry's feasibility and risks. |
The market positioning and analysis is satisfactory using some marketing models, with limited integration with other sections of the report. Demand analysis could be better evidenced leading to some doubts about market feasibility. Positioning is a little vague leading to a somewhat less than convincing marketing plan, costing and risk analysis. |
Most of the key financial elements have been identified and covered in sufficient detail. The plan demonstrates a reasonably coherent understanding of the financial issues faced by the business and its financial feasibility. The Operational Plan includes most of the key elements including legal and technological feasibility. Some operational processes, structures, systems and modes, including the customer journey, are described to a reasonable level of detail. Adequate Structure, acceptable presentation and language with some errors of grammar, spelling & punctuation, adequate Harvard referencing with errors. |
|
35-49% Fail |
Overall unconvincing. Some elements are poorly summarised or missing. The link between the market position, industry analysis, value proposition and business model/objectives/goals plus your fit with them is somewhat illogical and suggests a lack of understanding of the business. |
A completed ethics form has been provided of an acceptable standard, but it has not been signed by the assigned tutor. |
There is very limited evidence of reflective practice linked to key business development decisions. The assessment of personal traits and skills in relation to the academic literature is vague and the personal development plan lacks relevance and specific actions. |
Inadequate description of the appropriate field(s) of literature, and/or deficient critical evaluation of it. It is not clear how the Business Model relates to the literature. The market analysis lacks sufficient detail with clear gaps in knowledge and understanding demonstrated, few frameworks have been used / used incorrectly with little insight demonstrated into the industry's feasibility and risks |
The market positioning and analysis is unsatisfactory - it fails to use relevant marketing models or use models incorrectly with limited integration with other sections of the report. Demand analysis is poorly evidenced leading to significant doubts about market feasibility. Positioning is very vague leading to a very vague marketing plan, costing and risk analysis. |
Few of the key financial elements have been identified and covered in sufficient detail. The plan demonstrates an insufficient understanding of the financial issues faced by the business and its financial feasibility is doubtful. The Operational Plan is missing some of the key elements including legal and technological feasibility. It is not clear what the key operational processes, structures, systems and modes, including the customer journey really are. A lack of understanding of the operational elements is demonstrated. Poor structure, presentation, & use of language, or acceptable presentation but poor referencing |
|
<35% Fail |
The summary is poorly written and lacks sufficient evidence that there is a clear understanding of the business or you fit with it as an entrepreneur. |
A completed ethics form has been provided but it is not of an acceptable standard, and it has not been signed by the assigned tutor, or an incomplete ethics form or no ethics form has been provided. |
Evidence of reflective practice is highly superficial and/or not inked to key business development decisions or missing entirely. The assessment of personal traits and skills in relation to the academic literature demonstrates a lack of understanding of entrepreneurism and the personal development plan is missing or lacks sufficient detail. |
A significant lack of literature review and critical evaluation is demonstrated. Insufficient sources are used and/or lack relevance. The Business Model is unjustified, vague and unrelated to the literature. A significant lack of market analysis is apparent. Insufficient sources have been used and/or lack relevance. It is not clear which Industry is being analysed or how it relates to the project. |
The market positioning and analysis is presumptive - there is a lack of sources and use of relevant marketing models leading to a demonstrable lack of market feasibility. Positioning is very vague or missing. The marketing plan lacks key details, costs and risk analysis. |
Few, if any, of the key financial elements have been identified and covered in sufficient detail. The plan demonstrates a misunderstanding of the financial issues faced by the business and its financial feasibility is unclear or unviable. The Operational Plan is very vague missing many of the key elements including legal and technological feasibility. A significant lack of detail about the business is evident suggesting that there is little or no understanding of the business operations. Poor structure, presentation, & use of language, poor referencing |
All students taking a business and management research project are required to complete the research ethics approval procedure. There are a few forms for you to fill out as a part of this process and these forms will have to be signed by you and your assigned tutor indicating that you have recognised and accounted for any ethical issues arising from your primary research. You must enclose these completed forms as an appendix. Your signed ethics form will be considered for approval once it is uploaded to the Moodle submission point.
Your form will be assessed along with your proposal. You will either receive a pass result on the Moodle upload point or feedback explaining why your request has failed and how it needs to be modified. Your form is not approved until it has passed. You should not collect any primary data until your form passes.
Use a proportion of your time available with your assigned tutor to discuss your methodology and chosen methods and the ethical implications of these decisions before you seek approval. In the vast majority of cases, your assigned tutor will be able to sign your research ethics application. If your assigned tutor is unable to sign a submission, it may be referred to the module leader or the Faculty of Business, Law and Social Sciences (BLSS) Research Ethics Committee. Please note that any substantial changes made during the progress of your research paper/project with regard to primary research may be subject to re-approval.
When compiling your research ideas about the population under study and sample participants that may be extracted from it, an important issue you need to consider is whether the sample contains vulnerable participants. Vulnerable participants can be considered as either:
Any study seeking to involve vulnerable people in research must be discussed and agreed in advance and approved by the Faculty's Academic Ethics Committee (FAEC) before progressing further with your research work.
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