INTRODUCTION TO

BUSINESS - LEVEL 3
Week 6
Formative Assessment
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 Week 6

Week 6 – Overview
 Different Types of Businesses
 Sole Proprietor vs Partnership
 Roles & Activities within a Business
 Mergers and Acquisitions
 Assessment 1 Overview
 Organisational Structures
 Hierarchy
 UConnect (Group Collaboration)
 Flat  Business Plans
 Matrix  Pitch Examples (Presentation Skills) IN-CLASS ACTIVITY
 Main Functional Areas of a Business
 HR
 Finance
 Marketing
 Production & Delivery
 Week 6

Different Types of Businesses

Sole Proprietor Partnerships

Corporations
None Profit
Organisations
(NFPs or NPOs) do not see profitability as their main
objective. Instead, they seem to satisfy the particular
needs of their members or the sectors of society that
they have been set up to benefit.
Sole Proprietor vs Partnership Week 6

 Total Control (the owner)  Joint Ownership (in most cases)

 Fully Accountable  Shared Accountability
 Multiple Roles & Responsibility  Different Contributions & Skills
 Owner keeps all the profit  Shared profits

More Less
Financial Risk Financial Risk

Sole Proprietor Partnership

More Less
Freedom Freedom
(Gerards et al., 2020).
 Week 6
Mergers and Acquisitions
 5 Reasons to merge- Make money faster, Increase efficiency, Acquire new
product lines, Catch up or eliminate rivals, Create a new company identity.
  When there is a
merge, it means the
 Horizontal Merger- when two or more companies that produce the same kind business can move
of product or service join forces.
forward and change
direction into another
venture or follow /
 Vertical merger- when two or more firms that are at different steps of the
develop a new
manufacturing process collaborate.
strategy.

 Conglomerates- are firms that have at least four businesses, each making
unrelated products. bl e fo r Sole
valu a
It is very M E R G E into
o
Traders t rships
Partne
 Week 6

Organisational Structures
 Hierarchy
r uc t u re of a
in g t h e st
Identi fy
o n th e ...
ss d e p e nds
busine
 Size
 Flat

 Vision

 Matrix
 Requirements
What is your
a tion a l s tru cture?
organis
 Actions
Main Functional Areas of a Business Week 6

 Human Resources HR
 Recruitment / Training & Skills Development (encourage efficiency)
 Health & Safety (Overall Wellbeing of Employees)
 Compliance to policies & Legislation
 Shape / Monitor (set the tone) for a Business Culture (positive working Environment)

 Finance £££
 Wages for employers and suppliers
 Raising Capital / Budgeting & Monitoring Costs / Cash Flow
 Keeping Reports and Financial Statements
 Recognise resource capabilities (encourage actions which increase profits)
 Week 6
Main Functional Areas of a Business
 Marketing 
 Know the customer needs and wants
 Understand and Develop the Product / Service to match customers needs
 Know the market and research other rivals / products / services
 Advertising Strategies / Sales Promotions & Review customer feedback

 Production & Delivery

 Manufacturing / Product or Service Development
 Create & Deliver product / service according to Marketing Dep
 Quality Control (product / service meets the standards)
 Distribution & Stock Control (what do you need & what is being used)
 Week 6
Roles & Activities within a Business

HR Training
CEO
Recruitment Skills Dev

Market Expansion Operations l es i n y o ur b usiness

Research Strategies The ro
.
depends on . .
Product usiness
• What your b
Ads &
Design Sales Networking
Promotion
does?
tribute
Production Finance Legal • How you con
s?
to that busines
Customer Health &
Visionary Safety
Service

Product Quality
Development Control Delivery

Public Business
Pricing
Relations Development
Roles & Activities within a Business Week 6

1. Identify opportunities for

products or services.

2. Evaluate the demand for

products or services.

3. Obtain start-up Every

money/Investment. Business
takes these
4. Manage production. ACTIONS

5. Market goods & services.

6. Keep records.

7. Deliver / Sell the products

or services to customers
 Week 6
Assessment 1 Overview
Review the Assignment Brief , Module Study Guide & Resources to help you achieve
success

 A1 Brief – ITB Group Presentation

 MSG_Module Study Hand Guide fe e l f r ee to u se a l l
Please
esources
 Resources the available r
 Group Presentation Sample Slides on Ulearn.
 How to Pitch your Business Start Up
 B Plans (Business Plan Templates)
 Template Business Proposal Plan
 Future Learn Course
 Dragons Den (examples of pitching your business proposal)
 Use Uconnect App to work with your Group members

11
 Week 6
U Connect (Group Collaboration)

th e A p p a nd connect
Downloa d
ou r G r o u p m e m b e r s.
with y

onnect
Use Teams to c
ith your
and practice w
s.
Group member

12
 Week 6
Business Plans Creating
o
a
up
B u
w
s in
ill
e
e
s
n
s
s
Plan with
ure your
your G r
is m o r e su c c essful
Presentation
Your Business Plan will help you recognise . . .
 WHY your business will succeed
 HOW your business will succeed
Feel free
t o Pr i n t
 WHAT you need to make your business succeed Business off your
Plan as a
 WHO (in your group) will make your business succeed documen physical
t to m a y
at the Da be use it
Presenta y of your
tion. It c
Your Business Plan can be used as a guide to ensure you stay on useful for the ould be
see and Dragon’s
track to succeed. It can also be used to show investors. help the to
better de m make a
cision to
(Honig & Samuelsson, 2021) your Bus invest in
iness !!!

13
 Name / Type of Business (story / Mission) Week 6
 Members Names & their Roles within the company
 Overview - What ‘Business Research Model’ are you applying ? (SWOT / Porter’s / PESTLE)
 What are you selling ?
 Who are you selling to ?
 How are you going to sell it ? (operations & delivery) Detailed Busin
ess Plan
 What problem are you solving ? Example . . .
 Marketing Strategy
 Who are your rivals? What are they selling ?
 What is your Unique selling point ? (competitive advantage) Bplans
 Financial Forecasts : Busines
siness Pl s Planning Resou
an Samp rces and
 How much profit do you estimate to make? les Free Bu
 What are your costs? (Cash Flow) Where are your funds currently coming from ?
 How much investment money do you need to start ?
 How will you spend / use the investment money ?
Sales Action / Goals / Resources / Capabilities
14

 How will your company continue to expand / grow ?
 What are your current challenges and KPI’s (Key Performance Indicators) (How will you measure your progress)
Pitch Examples (Presentation Skills) Week 6
Build you
r Bridge
4 P’s of Speech . . . Solution for succe
ss
 Pace
 Pronunciation
 Pause You Client
 Perseverance / Reach
(Hollinshead, 2004)
Problem

More Hints, Tips & Tricks . . .

 Use your Environment for the ‘best effect’ - (Do not over depend on technology. Slides are only there to
support your presentation. YOU are your presentation).
 Be Confident, OWN THIS !!! & Demonstrate Knowledge - (You know something the audience does not know).
 Always have a Plan B (take printed copies of slides, posters, reports . . .)
 Be Engaging – (Prepare for questions & ELICIT EMOTION to CONVINCE the investors)

Good Presentation VS Bad Presentation * - YouTube

! The link can be pasted in the Teams Chat Box for
online students to watch on their own desktop !

15
 Pitch Examples (Presentation Skills) Week 6

What is the purpose of your presentation?

4 P’s for Success . . .
 Put a Business Plan together
1. Plan
 Is your Business Plan Valuable & Achievable ?
2. Prepare
 Why do you need the investment & How will you use it?
3. Practice
4. Present What are you going to present? How are you going to deliver it ?
(Twain, 2017)  20 minutes (create / structure the 10 slides)
 Each member needs to speak (who says what?)
 Investigate why your Business idea is valuable !

Know the role of each member in the Group . . .

Deliver your Presentation  Split the time / number of slides equally
 Feel excited about sharing all your hard-work  Be prepared to answer questions
 Convince the Investor that your Business is valuable  Be confident with your environment & resources
 Secure an Investment.  Practice the presentation together to FEEL IT &
make adjustments if needed.
16
 Week 6
Pitch Examples (Presentation Skills)
l a s s
I n- C t y
c t i vi
A
Watch this video to recognise what makes a good presentation.

 What is his unique selling point?

 What are his challenges?
 Who are his customers?
 What does he need to do next?

Life-Changing Device Amazes Dragons & Teachers | Drago

ns' Den - YouTube

! The link can be pasted in the Teams Chat Box for online
students to watch on their own desktop !

17
Still Struggling to put a Business Plan together ???
“Production is the
? source of demand”.

CREATE VALUE The Law of Markets

“In order for you to purchase,
you must first produce or sell”. Jean-Baptiste Say (1803)

Core Principle = Production is the Core Principle Be =

source of Demand and therefore more Multidisciplinary, Pro-Active &
VALUABLE than money. (Baumol, 1999). Develop Professional Skills.
(Antoncic & Hisrich, 2003).

 Seeing an opportunity to solve problems using innovation &

creativity to sell a product or service by starting, organising &
managing a business with financial risk.
(Gartner, 1990; Kao, 1993; Oxford Learners Dictionary, 2021; Zimmerman,

18
2008).
Week 6
Antoncic, B., & Hisrich, R. D. (2003) Clarifying the intrapreneurship concept. Journal of
small business and enterprise development.
Baumol, W. J. (1999) Retrospectives: Say's law. Journal of Economic Refe
Perspectives, 13(1), 195-204.
re nces
Blanka, C. (2019) An individual-level perspective on intrapreneurship: a review and
f or w
ways forward. Review of Managerial Science, 13(5), 919-961.
Gartner, W. B. (1990) What are we talking about when we talk about entrepreneurship?.  Journal
ee k 5
of Business venturing, 5(1), 15-28.
Gerards, R., van Wetten, S., & van Sambeek, C. (2020) New ways of working and
intrapreneurial behaviour: the mediating role of transformational leadership and social
interaction. Review of Managerial Science, 1-36.
Hollinshead, K., (2004) A primer in ontological craft: The creative capture of people and
places through qualitative research. In Qualitative research in tourism (pp. 81-84).
Routledge.
Honig, B. and Samuelsson, M., (2021) Business planning by intrapreneurs and
entrepreneurs under environmental uncertainty and institutional
pressure. Technovation, 99, p.102124.
Kao, R. W. (1993) Defining entrepreneurship: past, present and?. Creativity and
innovation management, 2(1), 69-70.
Kafile, M. (2018) A framework of intrapreneurship development for corporate
entrepreneurship: a case study of organisational development. Educor Multidisciplinary
Journal, 2(1), 171-191.
Twain, M., (2017) It usually takes me more than three weeks to prepare a good
impromptu speech.
Oxford Learners Dictionary (2021) [Online] Available at:
https://www.oxfordlearnersdictionaries.com/definition/english/entrepren
eurship?q=entrepreneurship
(Accessed: 25-04-21).
Zimmerman, J. (2008) Refining the definition of entrepreneurship. Pepperdine
University.
 End of Week 5
Remember to Reflect on what you learn.
Take Notes and use them.

FORMATIVE PRIORITY . . .
 Put together a Business Plan / PowerPoint Slides with your group !!!!
 Submit your LATEST / CURRENT draft of your Power Point Slides on the Formative Link on Ulearn.
 Work together in your Group (use UConnect & Microsoft Teams)

 Plan / Prepare / Practice Practice Practice . . .