UNIT:
YEAR 12 BUSINESS MANAGEMENT
Small Business Management (Business Development, Marketing, HR) – Term 3
UNIT OVERVIEW: This unit involves analysing an existing or competing business, with a view to determining the viability of a business idea or the viability of a start-up business.
ASSESSMENT:
UNIT DETAILS:
Feasibility study – written (1000-1500 words)
All three criteria are tested: Knowing and understanding business, Investigating business issues, and Evaluating business decisions.
No
1
Learning Goal
Examine and discuss elements of the business feasibility study
2 Prepare a feasibility study for a proposed new small business to ascertain the viability of the venture.
3 Complete Section 1 (200 words)
Prepare a business profile.
4 Conduct a market analysis and research (primary and secondary) to identify a suitable target market, and existing competition.
Include a SWOT analysis.
5 Collate research data.
6 Describe the target market
– examine the profile of the intended customer.
7 Prepare financial documents
8 Complete Section 2 (1300 words)
Recommend appropriate strategies for marketing.
9 Recommend appropriate strategies for operations.
Success Criteria/Activities
(I know I’ve got it when I can …)
List the main sections to be included in a business feasibility study: a business profile, market research (primary and secondary), target market, major competitors, operations, human resources and finance.
Refer to new text (Units 3&4) and Mylonas text for theory notes and complete own research notes.
Select a business you are interested in. Try to find a business mentor, with experience in operating a similar business. He or she will be good to bounce ideas around. Apply this knowledge to complete your report.
Include the name of the proposed business, a description of the business activity and the proposed legal structure.
Research techniques can include a market survey (primary) and phone book, ibis & abs statistics.
Use tables or graphs to collate data into meaningful format. Refer to this data throughout the report in the relevant sections.
Describe the characteristics of the target market: demographics, geographic, behavioural, and psychographic.
Include a list of establishment costs, sources of funds (equity and debt), and a cash flow statement for 12 months)
Analyse and evaluate marketing mix strategies: products to be sold, promotion methods, price of goods, places for customer to access product. Why are these strategies important for your new business? Justify statements using evidence from primary and secondary marketing research conducted. Suggest ways marketing could be improved.
Analyse and evaluate production facilities, degree of technology to be used in production process, product distribution (process, operating hours, suppliers), control of inventory (ordering systems used eg. JIT, physical and accounting control over stock, security of stock, maintenance (preventative and corrective), and quality control (approaches to be implemented). Suggest ways operations could be improved.

10 Recommend appropriate strategies for human resources.
11 Construct a bibliography, listing all sources used in the report.
Analyse and evaluate staffing (functions, roles, skills, experience and qualifications), HR functions (recruitment, induction, training, rewards and performance appraisal) and external advisors
(accountant, solicitor, business mentor or employment agency).
Suggest ways HR could be improved.
Keep records of notes from your research – note the websites, authors and dates you conducted the research.
NOTE: You should present your findings in dot points and use diagrams where possible.