Unit 53 Planning for Growth Assignment
Assignment Brief – BTEC (RQF)
Higher National Diploma in Business Management
| Learner Name | ID | |||||
| Programme Name | Pearson BTEC Higher National Diploma in Business Management | |||||
| Unit Number and Title | Unit 53: Planning for Growth | |||||
| Credit Value | 15 | Unit Level | 5 | |||
| Academic Year | 2022-23 | Cohort | Sep 21 | |||
| Assessor | Muhammad Tabassum | |||||
| Assignment Title | GROWTH PLANS FOR AN SME | |||||
| Issue Date | 06/03//2023 | |||||
| Submission Deadline | Saturday 10 June 2023 11:59PM UK Time | |||||
| IV Name | Kashif Khan | |||||
| IV Date | 03/03/2023 | |||||
| Statement of Authenticity: I certify that the work submitted for this unit is my own and the research sources are fully acknowledged. LearnerName: Date: | ||||||
| Guideline for Final Submission |
| The submission must be in the specific format(s) as specified in the assignment brief instructions. The assignment should be submitted in a MS Word© format, or equivalent. The assignment has TWO parts. Please read both parts carefully. Ideally, you should start writing your assignment as soon as you receive the assignment brief. You are expected to complete Part 1 before Week 10 to obtain formative feedback from your Assessor during teaching week 9 and 10. You will be offered the opportunity to submit your full final report including your recommendation plan for feedback which will take place during Week 14 and 15. There will be only one submission link in Turnitin. You are required to compile Part 1 and Part 2 into one Microsoft Word file for submission. Pleaserefer to indicative layout given in Canvas. Please access HN Global for additional resources to support and reading for this unit. For further guidance and support on academic writing please refer to the Study Skills Unit on HN Global: www.highernationals.com |
| Submission Format: Part 1 |
| The submission is in the form of a businessreport(use your report writing skills) This should be written in a concise, formal business style using 1.5 spacing and font size 12 in Arial Font. You are required to make use of headings, short paragraphs and subsections(you can use bullet points where as appropriate) and all work must be supported with research and references using the Harvard referencing system. The recommended word limit is 2,000 to 2,500, although you will not be penalised for exceeding the total word limit. |
| Learning Outcomes |
| LO1 Analyse the key factors that SMEs should consider when evaluating growth opportunities LO2 Assess the various methods through which organisations access funding and when to use different types of funding LO4 Assess the various ways that a small business owner can exit the business and the implications of each option. |
| Transferable skills and competencies developed |
| Students will develop the ability to write business plans and appreciate the importance of making informed choices when choosing routes to growth. They will also understand the potential risks vs rewards involved with growth. Students will also develop analytical skills which they can apply within the workplace. |
| Assignment Brief and Guidance |
| Scenario and activity: You are working as business consultant for a consultancy company. You received a client brief [an organisation of your choice – your own place of work if appropriate] to assess the potential of business growth and prepare a business case. The business you choose should be an SME and could be a local service (e.g. a new coffee shop or an online product sales business). You should choose something that interests you personally or where you may have some existing knowledge or access to resources and skills through personal networks. Your report should inform the business owner of how they can grow their business and what their options are. Within the report you must evidence the following; Justify specific options and pathways for growth, taking into account the risks of each option and how they can be mitigated. Within this you must also demonstrate an understanding of the competitive advantage the business has Devise potential sources of funding, with justified argument for the adoption of a particular source or combination of sources, based on organisational needs addressing benefits and drawbacks of each source Provide a critical evaluation of exit or succession options for a small business, with justified recommendations to support effective exit or succession, addressing the benefits and drawbacks of each option. Assignment Activity Guidance Within your report you should highlight the basis of competitive advantage and ensure that you create a link between external factors and competitive advantage. The growth options should reflect the organisations capabilities. Ensure you are always linking back to the business and support your report with research. Your report should reflect the current business environment. |
| Submission Format: Part 2 – A business plan |
| Submission Guidance The submission is in the form of a business plan(use any business plan template) This should be written in a concise, formal business style using 1.5 spacing and font size 12 in Arial Font. You are required to make use of headings, short paragraphs and subsections (you can use bullet points where as appropriate) and all work must be supported with research and references using the Harvard referencing system. The recommended word limit is 1,000 to 15,000, although you will not be penalised for exceeding the total word limit. |
| Learning Outcome – for Part 2 Assessment |
| LO3Develop a business plan to communicate a growth strategy in a business to the relevant stakeholders |
| Transferable Skills |
| Students will develop the ability to write business plans and appreciate the importance of making informed choices when choosing routes to growth. They will also understand the potential risks vs rewards involved with growth. Students will also develop analytical skills which they can apply within the workplace. |
| Assignment Brief and Guidance |
| The submission format is a business plan for growing the business. Standard business plan templates can be used but you should also devise your own business plan template. Scenario and activity: The business that you had developed the report for was very impressed with the level of detail and information provided, as such they have now asked you to prepare a business plan for them. The business plan will highlight how the business can implement the growth strategies you have suggested. The business plan should be; Presented in a coherent and in-depth manner and demonstrate knowledge and understanding of how to formulate, apply and achieve business objectives successfully Include financial information and strategic objectives for the business How to secure investment Strategies to meet stakeholder needs and expectations Assignment activity and guidance You should ensure that the business plan is detailed and coherent, the business plan should reflect the growth strategies you have highlighted in the report in part 1. There should be a clear link between the information presented in the report and the business plan. The business plan should provide enough information for investment decision making and should include payback period and net present value calculations or Return on Investment. |
Learning Outcomes and Assessment Criteria
| Pass | Merit | Distinction |
| LO1 Analyse the key factors that SMEs should consider when evaluating growth opportunities | ||
| P1 Analyse key considerations for evaluating growth opportunities in an organisational context. P2 Evaluate the opportunities for growth, applying an appropriate management tool. | M1 Critically evaluate the options for growth, using a range of analytical frameworks todemonstrate the understanding of competitive advantage in an organisational context. | D1Justifyspecificoptionsandpathwaysforgrowth,taking into account therisks of each option andhow they can bemitigated. |
| LO2Assess the various methods through which organisations access funding and when to use different types of funding | ||
| P3Assess the potential sources of funding available to businesses,in given organisational contexts,addressing benefits and drawbacks of each source. | M2 Critically evaluate potential sources of funding for the adoption of an appropriate source/s of funding for a given organisational context. | D2Devisepotential sourcesoffunding,with justifiedargumentforthe adoptionofaparticular sourceorcombination of sources,basedon organisationalneeds. |
| LO3 Develop a business plan to communicate a growth strategy in a business to the relevant stakeholders | ||
| P4 Design a business plan for organisational growth that includes financial information and strategic objectives for a business. | M3 Develop an appropriate and detailed business plan for growth and securing investment, setting out strategic objectives and strategies to meet stakeholder needs and expectations. | D3Presentacoherentandin-depthbusinessplanthatdemonstratesknowledgeandunderstandingofhowtoformulate,applyandachievebusinessobjectivessuccessfully. |
| LO4 Assess the various ways that a small business owner can exit the business and the implications ofeach option. | ||
| P5Assess exitor succession options for a small business, addressing the benefits and drawbacks of each option. | M4Compareexitorsuccessionoptionsforasmallbusinesstomakevalidrecommendations. | D4Provideacriticalevaluationofexitorsuccessionoptionsforasmallbusiness,withjustifiedrecommendationstosupporteffectiveexitorsuccession. |
| Academic Misconduct: Plagiarism is presenting someone else’s idea in your own name. Hence, it is important not to use information directly from any published sources such as books, journals or websites without paraphrasing and referencing the materials. It is also imperative for you not to copy anything from another student’s coursework and submit in your name (collusion). If similarity is found with another learner’s work or from other published sources, suspected work will be investigated in accordance with procedures set up by the college. Please read Academic Misconduct Student Guide in College website for further details: https://www.rcl.ac.uk/our-college/our-policies/ |
Recommended Resources
Textbooks
BLANCHARD, K., ONCKEN, W. and BURROWS, H. (2015) The One Minute Manager Meets the Monkey. London: Harper Collins.
BURNS, P. (2016) Entrepreneurship and Small Business. 5th Ed. Basingstoke: Palgrave Macmillan.
BURNS, P. (2018) New Venture Creation: A Framework for Entrepreneurial Start-ups. Basingstoke: Palgrave Macmillan.
WILLIAMS, S. (2019) Financial Times Guides: Business Start Up 2019/20. Harlow: Pearson.