BUSINESS PLAN

MODULE LEARNING OUTCOMES

General Aims
Learners who successfully complete this module will:
examine the viability of a business idea
understand the procedure involved in setting up a business
understand the over-riding importance of the customer to business success2
evaluate the market opportunity for the new idea in terms of market size, market segments,
customer behaviour and potential target markets
develop an awareness of the importance of production and personnel planning
be familiar with financial planning with particular reference to sources and uses of funds/ cash
flow and the layout of financial statements
recognise the importance of adopting effective marketing, quality and customer service policies
understand the importance of developing a good working relationship with a client
acquire information specific to market their work as professional practitioners
understand the importance of establishing good working relationships with professional
bodies/agencies
adapt theory to a practical scenario in the development of a viable business plan
develop a range of good communication skills

Specific Learning Outcomes

Unit 1 Business Feasibility
Learners should be able to:
examine the feasibility and USP of a business, i.e. market, financial and product feasibility
outline the aims and objectives of the business
assess the essential keys to success
evaluate and investigate a possible target market, customer needs etc.
conduct a SWOT and PEST analysis
identify the different elements of a business plan
investigate enterprise assistance available
establish startup requirements and their relevant costs
Unit 2 Customer and Markets
Learners should be able to:
understand the concept of market segmentation
identify a potential market segment and their requirements
build a customer profile
identify and assess customer needs
assess the competition.
Unit 3 Production and Personnel
Learners should be able to:
evaluate the different factors to be taken into consideration when selecting a premises
evaluate different alternatives such as renting and buying etc. calculate the costs of obtaining
and running a premises
 evaluate how costs will affect profitability and cash flow
establish equipment and material requirements
investigate factors to be considered when selecting a supplier
conduct a supplier audit
identify and assess the skills required for the running of the business
write job and person specifications
investigate the staffing requirements for an organisation
produce a staffing plan
assess the requirements for external advisors/agencies
examine the requirements of relevant employment legislation
examine different recruitment, training and appraisal systems.
Unit 4 Financial Planning
Learners should be able to:
research, identify and assess different sources of finance
assess the suitability of different sources to business requirements
analyse the benefits and drawbacks of borrowing
explore the possibility of public funding
calculate the set up financial requirements
produce and understand financial statements
produce and understand budgets and forecasts
conduct a break-even analysis.5
Unit 5 Marketing, Quality and Customer Service Policies
Learners should be able to:
develop a marketing / sales plan
establish good customer relationships i.e. develop a customer service policy
assess different marketing/sales strategies
examine different quality control procedures.
Unit 6 Professional Practice
Learners should be able to:
use primary research to establish a working relationship with professional bodies/agencies and
maintain a professional working dialogue
prepare a presentation folio suitable for professional bodies/agencies with due regard to the
business plan, production process, marketing, quality etc.
respond effectively under the pressure of deadlines
record and log information in a professional manner.
Unit 7 Development and Presentation of the Business Plan
Learners should be able to:
understand the importance of planning and preparation
understand the importance of structure and organisation
identify the main components of a business plan
present a professional business plan.