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