MGT380 New Venture Creation 2023-24

Module Code: MGT380

Coursework Code: 1

Module Title: New Venture Creation

Date Available: Monday, 5th February, 2024

Submission details:  Wednesday, 15th May 2024, 12pm (noon)

Electronic submission only through Blackboard.

You can submit your assignment multiple times to the submission link on the module Blackboard site. Each time you submit you will receive a Similarity Report. You can check this and improve your referencing before the final deadline.

After 3 submissions you will need to wait 24hrs before you receive a new report.

Please note: each new submission replaces any previous submission. It is not possible to retrieve a previous submission.

Your final submission must be made before the deadline to avoid late penalties.

You should note that the time of submission is taken from once the document has been successfully uploaded and confirmed – this may take more than five minutes during busy periods. Late penalties will be applied to any work submitted from 12.01pm on 15th May 2024 onwards. Details of how to calculate a late penalty can be found in your programme Handbook. It is your responsibility to ensure the correct document/file has uploaded successfully.

When submitting students must:

1.   Include a completed cover sheet (available from Blackboard (MOLE))

2.   Use ‘Student Number, MGTXXX- 1’ (e.g. 190011001 MGT380- 1) as the document’s filename and also as the Assignment Title in Turnitin.

A penalty of 5 marks will be added for each student who does not comply with this.

Contribution to Final Mark for Module: 100 %

Maximum Word Length: 3000 words

Images, figures, tables, appendices, and list of references are not included in the word count. However, there is a limit on how many pages of appendices and tables can be used. This limit is: No more than 3 pages in total of tables and No more than 5 pages in total of appendices. Tables or appendices exceeding

these pages limits will not be assessed. If you exceed the word length even by one word, you will be penalised. For details see the Management School Handbooks.

Please note that SUMS does not have a word count tolerance - it is a stated maximum as outlined above.

Requirements:

One 3000-word written business plan to present, evaluate, and justify the design and foundations of a new venture. The document has a two-fold purpose. First, it can guide you in the first year of setting up, running, leading, and funding the new venture, thus it needs to provide enough detail so the learner can refer back to it to make decisions. Second, it can be used as a sales document to present the venture and the need for it/financial benefits to funders, banks, support organisations or partners. The assignment requires the application of knowledge and skills gained by the student over the course of his/her management degree, drawing on key areas of marketing, strategy, operations, OB, HRM, and finance and accounting. There is no template for the report, but it needs to address the following topics:

. Executive summary

. Key product/service and customer needs it addresses

.    Marketing plan with specific customer targets, relationships, strategies, and core messages

. Production, distribution, and reach

. Key resources and how they will be managed effectively (including human resources)

. Key partners and suppliers

. Strategic advantages and competitive analysis

.    Financial feasibility and viability – fully developed costs structure and revenue streams

.    Contingency planning (including a sensitivity analysis of different forecast sales/costs, risk management)

. You may also consider intellectual property protection for your venture if appropriate and relevant

Major decisions and forecasts should be realistic, credible, and evidenced. Good reports will present evidence in a credible and convincing manner.

There are no formatting requirements for the business report to allow you to express your creativity and use design elements to enhance the persuasive power of the report and bring the new venture to life.