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Unit 29 Managing & Running a Small Business

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ASSIGNMENT BRIEF

Unit 29 Managing & Running a Small Business

BTEC Higher National Diploma in Business

QUALIFICATION: PEARSON BTEC HND IN BUSINESS
Unit 29: Managing & Running a Small Business
Unit code: R/508/0566 Unit type: Optional
Unit level: 5 Credit value: 15
TQT: 150  
Assessor / Tutor: Fayyaz Alam Internal Verifier: Muhammad Ismail
Assignment Approval Date: 29th Sep 2019 Date issued to students: 30th Sep 2019
Task1 Submission Date:  10th Nov 2019
Task 2 Submission Date: 14th Dec 2019                                         

Centre Code: 01018

Assignment

Learning outcomes

In order to pass this unit, the assignment that you present for assessment needs to demonstrate that you can meet all the learning outcomes listed below.

(LO) Learning Outcomes
LO1 Discuss how a small business or social enterprise plans and allocates resources to achieve objectives.
LO2 Explain and evaluate the customer relationship management process for a small business or social enterprise, including understanding the benefits and challenges of transnational operation.
LO3 Develop and analyse a cash flow forecast, budget and break-even analysis and interpret key financial statements.
LO4 Discuss the implications of regulation and legislation on a small business or social enterprise.

Business Case / Scenario Covering LO1, LO2, LO3 & LO4

The local council is planning to organise a conference for young entrepreneurs and managers to enhance their skills on different aspects of business and guide them how to run & manage their business successfully.

You are the owner of a small consultancy firm, which helps the entrepreneurs to get consultancy on different aspects of business. The council has contacted you to prepare an information booklet for giving it to young entrepreneurs, which details the different aspects of managing and running a business successfully.

TASK 1: Allocation of Resources & Customer Relationship (Covers LO1 and LO2)

You are required to prepare an information booklet that includes the following details. Use examples of your chosen organisation where appropriate.

1.      Discuss the main considerations which entrepreneurs should focus before planning and allocating resources, assess the importance of effective allocation of resources and critically evaluate the links between resource allocation and achievement of business objectives with example from your chosen organisation.

2.      Apply relevant tools and techniques to allocate resources.

3.      Explain, apply and evaluate different processes of customer relationship management in an organisational context.

4.      Explain & evaluate the potential to develop transnational operations using the stage model of internationalisation for your chosen organisation and assess benefits and challenges for transnational operations.

5.      Critically analyse both the application of appropriate resources and customer relationship management process at all stages and provide recommendations for overcoming challenges of developing transnational operations in context of chosen organisation.

Submission Format

Your work should be submitted in a booklet style. It should be referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. Use graphs, charts and images where appropriate for better understanding for the participants of the seminar. The recommended word limit is 2,000 (+/- 10%) words, although you will not be penalised for exceeding the total word limit.

Grading Criteria

This table outlines requirements for each grade (i.e. Pass, Merit or Distinction).

Pass Merit Distinction
LO1: Discuss how a small business or social enterprise
plans and allocates resources to achieve objectives.
D1: Critically analyse the
application of appropriate
resources to demonstrate
links between resource
allocation and
achievement of business
objectives.    
P1: Discuss the main
considerations a small
business or social
enterprise needs to
address when planning
and allocating resources
to achieve business
objectives.
M1: Apply relevant tools
and techniques in a
structured and analytical
way to plan and allocate
resources in an
organisational context.

M2: Assess the
importance of planning
and allocating resources
to achieve business
objectives.
LO2: Explain and evaluate the customer relationship
management process for a small business or social
enterprise, including understanding the benefits and
challenges of transnational operation.
D2: Critically evaluate the
customer relationship
management process at
all stages and provide
recommendations for
overcoming challenges of
developing transnational
operations.  
P2 Explain and evaluate
different processes of
customer relationship
management for a small
business or social
enterprise.
M3: Apply and evaluate
the elements of the
customer relationship
management process in
relation to achieving
business objectives.
P3 Explain how a small
business can develop
trans-nationally and
determine the benefits
and drawbacks.
M4: Evaluate the potential
to develop transnational
operations using the
stage model of
internationalisation,
assessing both benefits
and challenges.  

TASK 2: Financial Analysis & Legal Implications (Covers LO3 and LO4)

You are required to prepare report to the management that why financial and legal aspects are important for any business and how they impact on achieving the objectives of the chosen organisation. Your report must cover the following details. Use examples of your chosen organisation where appropriate.

  1. Introduction of the organisation.
  2. Produce monthly itemized cash flow statement for one year and interpret key financial statements for your chosen organisation besides critically evaluating the contribution of key financial statements in successful management of the organisation.
  3. Explain & apply Break even analysis and other appropriate quantitative and analytical techniques in context of chosen organisation.
  4. Discuss the key legislation and regulations for your chosen organisation and evaluates its implications. Also critically evaluates its implications in future developments of your organisation.

Submission Format

Your work should be submitted in a report format. It should be referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. Use graphs, charts and images where appropriate for better understanding for the participants of the seminar. The recommended word limit is 2,000 (+/- 10%) words, although you will not be penalised for exceeding the total word limit.

Grading Criteria

This table outlines requirements for each grade (i.e. Pass, Merit or Distinction).

Pass Merit Distinction
LO3: Develop and analyse a cash flow forecast, budget
and break-even analysis and interpret key financial
statements.
D3: Produce an accurate
cash flow forecast and
break-even analysis with
a critical evaluation of
how key financial
statements contribute to
the successful
management of the
business.  
P4: Produce an annual
itemised monthly cash
flow forecast showing
fixed and variable costs
set against income for a
specific organisation.

M5: Apply appropriate
quantitative and
analytical techniques to
provide an appropriately
detailed cash flow
forecast and break-even
analysis.  
P5: Explain how break
even analysis could be
applied to an
organisational situation.
P6: Interpret key financial
statements for an
organisation in relation to
how they contribute to
the successful
management of the
organisation.
LO4:  Discuss the implications of regulation and
legislation on a small business or social enterprise.
D4: Critically evaluate key
legislation and
regulations that affect
small businesses or social
enterprise organisations,
taking future
developments and
changes into account.
P7: Discuss key legislation
and regulations that have
implications on small
businesses or social
enterprises.
M6: Evaluate the
implications of key
legislation and
regulations in an
organisational context.

 Assignment Format/Style

Produce a Booklet for task1 and a report for task2. Your work must address all the tasks in the assignment brief. You are encouraged to use diagrams or tables to illustrate where necessary. You need to use single space and font size 12.  Any references to academic theory should be correctly cited and referenced in a bibliography at the end of the report. (Please do not copy and paste information).

Assignment Content

The assignment brief includes headings relevant to the unit outcomes, read and follow the tasks listed under each heading and this will make certain that you cover all the outcomes and assessment criteria to achieve the unit.

Assessment and Grading

Read the assessment grading criteria before attempting the assignment tasks, as it contains important information about how you should approach your assignment and how grading is applied in order for you to achieve a pass, merit or distinction.

Assignment Submission

All assignments must be submitted by the agreed date, via MOODLE.  Assignments submitted late, but with permission, will be marked as a pass only.  Assignments submitted late, without permission, will not be marked until the end of the year, or the next time the unit is scheduled.

Please ensure that your assignment is attached to the assignment submission receipt and that you read and sign the statement confirming authenticity. Check that all relevant fields are completed fully before submission.

Assignment Feedback

Once the assessor has marked your assignment, you will receive written feedback, either confirming that you have met the required standard and grade awarded, or that you have not yet met the standard and what you need to do to make the necessary improvements.  Please note that achieved and confirmation of grades is provisional until signed off by the Internal Verifier.

Student Guide to Writing an Assignment

This is an assignment guide to help support you while completing your BTEC Assignments.

It includes:

  • Assignment writing guidance  
  • Referencing guidance

Bibliography / References

Please list down “works cited” within the framework of enumerative bibliography – a list of references to key articles and texts. Verify each reference carefully; the references must correspond to the citations in the text. The list of references should start on a new page and be listed alphabetically by the name of the author(s) and then by year, chronologically. Only the first author’s name is inverted. The name of each author and the title of the citation should be exactly as it appears in the original work. More Information can be found in the College MOODLE in the General Information about the Harvard Referencing. 

Recommended Reading:

Students must consult College and local national library facilities. In addition, students need to read the broadsheet press and weekly business magazines regularly. You should also use relevant internet sites regularly and identify key influences and recent and relevant research with regard to your subject area.  You should read topical case studies and read about national campaigns and government initiatives in your area of interest. Following is the list of indicative resource materials.

Textbooks:

Check the list of recommended books for your further reading

  • BLANCHARD, K., ONCKEN, W. and BURROWS, H. (2011) The One Minute Manager Meets the Monkey. London: Harper Collins.
  • BURNS, P. (2011) Entrepreneurship and Small Business. 3rd Ed. Basingstoke: Palgrave MacMillan.
  • BURNS, P. (2014) New Venture Creation: A Framework for Entrepreneurial Startups. Basingstoke: Palgrave MacMillan.
  • RIES, E. (2011) The Lean Start-up. London: Penguin Books.
  • WALL, S., CODAY, C. and MITCHELL, C. (2014) Quantitative Methods for Business and Management: An Entrepreneurial Perspective. Harlow: Pearson Education.
  • WILLIAMS, S. (2015) Financial Times Guides: Business Start-up 2015. Harlow: Pearson Education.

Journals

  • Journal of Small Business Management. Oxford: Wiley-Blackwell http://onlinelibrary. wiley.com/journal/10.1111/(ISSN)1540-627X
  • The Institute for Small Business and Entrepreneurship (ISBE) website: www.isbe.org.uk

Student Assessment Submission and Declaration

When submitting evidence for assessment, you must sign a declaration confirming that the work is your own.

Student Name:   Assessor name:  
Issue date:   Submission date:   Submitted on:  
Programme: BTEC Higher National Certificate in Business
Unit: Unit 29: Managing & Running a Small Business

Plagiarism

Plagiarism is a form of cheating. Plagiarism must be avoided at all costs and students who break the rules, however innocently, may be penalised.  It is your responsibility to ensure that you understand correct referencing practices.  As a university level student, you are expected to use appropriate references throughout and keep carefully detailed notes of all your sources of materials for material you have used in your work, including any material downloaded from the Internet. Please consult the relevant unit lecturer or your course tutor if you need any further advice.

Student declaration I certify that the assignment submission is entirely my own work. I fully understand the consequences of plagiarism. I understand that making a false declaration is a form of malpractice.
Student signature:   Date: