Task 1
According to Torrington et al, 2011, p73 " Human resource strategies can be stimulating to produce and satisfying to display, but how can we make sure that they are implemented?"
Using relevant literature critically analyse this statement and examine how human resource strategies are implemented by entrepreneurs. Use relevant examples and substantiate does the implementation of such HR strategies bring the desired outcomes.
Please ensure that your assignment follows this structure:
- A table of contents
- A list of figures and/or list of tables where appropriate
- Introduction
- Literature Review-& Critical Analysis
- Conclusions
- References / Presentation
- Bibliography.
- Appendices if appropriate
Task 2 - Individual Written Presentation
Develop an effective business plan for launching a new product and obtaining financial and managerial support from potential backers. Explain the key issues that you would highlight and emphasise in a presentation of your business concepts including the questions that you would expect from potential investors and your considered answers to them. Students are also required to submit to Ten power point slides of this business plan in the Appendix.
Assessment Criteria, word limit and the breakup of marks
1. Nature of the business - Should provide the background and history of the business. Also contain the goals as well as the product or services description being proposed. It also discusses the supplier information, agreements and ownership structure and legal considerations.
2. Situation Analysis - Should do SWOT analysis, identify potential customer, geographical area, business competitors.
3. Marketing Strategy - Should present the costing and pricing, sales projection, and marketing plan.
4. Operations and Human Resources Strategy Should state what operations strategy will be undertaken. Also include the manpower needed. HR planning, recruitment Et selection strategies. motivation.
5. Finances - To include the revenue, expenses, and financial projections.
Guidelines for undertaking the proposal / Assessment criteria
Task 1
Your analysis must be grounded in appropriate academic literature and must provide clear evidence of independent critical evaluation.
Task 2
You are required to identify critical issues that would generate interest.
For example:
1. Nature of the business - Should provide the background and history of the business. Also contain the goals as well as the product or services description being proposed. It also discuss the supplier information, agreements and ownership structure and legal considerations.
2. Situation Analysis Should do SWOT analysis, identify potential customer, geographical area, business competitors.
3. Marketing Strategy - Should present the costing and pricing, sales projection, and marketing plan.
4. Operations and Human Resources Strategy - Should state what operations strategy will be undertaken. Also include the manpower needed, HR planning, recruitment and selection strategies, motivation.
5. Finances - To include the revenue, expenses, and financial projections.
Module Learning Outcomes to be Assessed:-
Upon successful completion of task 1 the students will be able to:
- Identify, determine, and critically evaluate the factors which may contribute to the success or failure of a new venture including the management abilities, skills and contexts which may contribute to this success.
- Critically consider the relationships which may exist between management knowledge, entrepreneurship and new venture development and the complexity of factors which contribute to new business development
- Determine, and identify the critical tasks to be accomplished within new venture life cycles, including the challenges and opportunities faced at each stage of the venture. (e. g. management thinking, concept; prototype; test; scanning: start-Up: early growth; penetration developments; continuation of success; re-positioning; contingency planning, financial and HRM contexts of management)
Upon successful completion of task 2 the students will be able to:
- Evaluate and critically analyse the relationships which may exist between knowledge, entrepreneurship and new venture development and the complexity of (actors which contribute to new business development Identify and determine the necessary financial and non-financial resources available for new ventures; the criteria used to screen and evaluate proposals, their attractiveness and risk, and know how to obtain start-up and early growth capital and develop an integrated plan for new venture development (including financial projections for start-up ventures).
Apply models for the screening of new ventures/opportunities to live start-up concepts and ideas, and subsequently develop a live case business plan suitable for presentation to investors and industry participants.