7.2 Individual Report

Please submit an Individual Report which will consist of your answers to the two questions which have been outlined below. Question 1 is divided into four different questions which are relatively short and are based on your experience working in a group on your Group Business Plan. Question 2 is a much longer question and requires you to write an essay on a title which you will find below. 

The list of references that you will include at the end of both Question 1 and Question 2

Question 1a - Summary of your Group’s Business Idea

You should outline, in your own words, the context and features of the business idea that was developed by your group in the Group Business Plan. Outline what you feel to be the strengths and weaknesses of the plan (include in this section, and in your bibliography, any academic or other references to small businesses and the start-up process that you feel are relevant. You can also include in this section information on any points that you have learnt from existing entrepreneurs.

Question 1b - Team Work

Please reflect on the roles, specializations, and contributions of team members during your Group Business Plan work. The team forming process, the efficiency of team work + how the experience of working in teams can aid your future career development (include in this section, and in your bibliography, any academic or other references to team working that you feel are relevant in this section).

Question 1c - Presentation Experience

Why is it important to present the business plan instead of just submitting paper documents? Please provide concrete examples of what you learned, both in terms of presentation effectiveness and issues concerning your business idea, from presenting the idea during the Dragons' Den sessions (include in this section, and in your bibliography, any academic or other references to pitching a business and delivering effective presentations that you feel are relevant).

Question 1d - Alternative Scenario

You have predicted the growth of your business in the business plan. Looking back, do you think your prediction was optimistic, pessimistic or just about right? Have you considered alternative growth trajectories in your business plan? If not, how would the inclusion of alternative scenarios help to make a better plan?

Question 2 – Essay Question

Please write an essay with the following title:- One of the growth strategies a small business might consider is becoming a franchisor. Critically assess the advantages and disadvantages of franchising as a growth strategy and outline two tensions that might arise between a franchisor and a franchisee and what strategies could be used to resolve these tensions?

The answers to Question 2 should be written as an essay. Please remember that when writing an essay you should include an introduction and conclusion and use paragraphs, rather than headings, as the way to divide up your work. Please also use relevant examples when writing your essay which can be from material that we have covered on the course or from elsewhere.

At the end of Question 2 you need to include a reference list for all references that you have referred to whilst answering this question. In addition to using online sources you should also refer to relevant books that have been included in the module handbook, or additional relevant books that you have found. When using books please reference the page number (or page numbers) that have been consulted in your in-text referencing. An example of how you should do this is as follows: - (Barringer and Ireland, 2016, p. 236-237).