UNIT 1 ASSIGNMENT 3 – ASSESSMENT CRITERIA
BUSINESS FORMATS On the next five slides you need to research what each format is and explain advantages and disadvantages for each. P5
SOLE TRADER Provide a definition along with advantages and disadvantages
PARTNERSHIP Provide a definition along with advantages and disadvantages
LIMITED COMPANY (LTD) Provide a definition along with advantages and disadvantages
PUBLIC LIMITED COMPANY (PLC) Provide a definition along with advantages and disadvantages
SOCIAL ENTERPRISE Provide a definition along with advantages and disadvantages
MY CHOSEN FORMAT Which one of the formats will you choose for your business? Explain why you have chosen this format for your business
BUSINESS MODEL Define a business model P6
MARKET RESEARCH Summarise the findings from your research Explain how they support your idea Remember to say where you got your research from
MY PRODUCT Is your product a good or service? Describe it
BUSINESS AIMS AND OBJECTIVES What long-term aims does you business have Make sure they are realistic What SMART objectives will you set in the first year to help you meet the aims
STAKEHOLDERS What stakeholders does your business have and what is their influence on the business?
START-UP COSTS List the costs of starting your business. Be realistic and detailed
FINANCE PREDICTIONS Draw a simple cash-flow for the first year of your business
CONCLUSION Why do you think your business will succeed?
USING MY BUSINESS MODEL Analyse how your business model will help you succeed and carry out your activities M5
MY CHANCES OF SUCCESS Now you need to provide a conclusion of your chances of succeeding overall based on your chosen format and everything else. This section should be a long explanation using your presentation notes. A distinction will not be gained easily D3