Business in Practice:
Major: MSc in management in construction note for the writer: USE UK ENGLISH, please
Main Assessment:
“Compare and contrast two different types of business structure (taken from the range of UK business vehicles available, e.g. public company, private company, partnership, sole trader etc) for a new start up but potentially fast growing business taking into account the range of economic, international, technological, commercial and management issues that should be considered, especially if the activity is trans-national. Your report should not exceed 6,000 words. You may, in addition, use an appendix of up to 1,000 words to describe the real or fictional business that your report relates to”.
Criteria:
1. Explanation of the potential impact of the external economic environment – possible changes in interest, inflation, world trade etc
2. Understand the relative merits of different business vehicles – and the various corporate and personal taxation issues that may apply.
3. Consider alternative management structures and how operations might be organised
4. The need for adequate investment and working capital finance, the various financing options available – both now and in the future for the business – and the key elements of management accounting
5. How to tackle the business planning process depending on the nature of the business structure and the likely finance requirements
6. How to formulate a marketing and sales strategy – particularly with regard to the markets and services and the resources required to achieve the desired level of revenue and profit.
7. Labour and human resources issues – With particular emphasis on the ability to retain and incentivise key members of the team who are critical to the future success of the business.
8. How to plan the relevant knowledge management and information management systems
9. The possible impact of future trends and the digital revolution on future trading
10. Legal, regulatory and compliance issues
11. References, grammar, clarity and style
13. Presentation