BUSN3026 Business Planning

This topic is about learning the business planning process, which includes all main components of the business: Marketing, Management, Operations and Financials integrated into a viable business.

Students will work in teams to prepare a business plan in the form of report and presentation. We will go through the process step by step and explore the challenges and opportunities of team collaboration to achieve the solid thought through business plan that could develop new business or expansion of the existing one.

This topic aims to provide students with:

• General knowledge, understanding, skills and process to write a business plan
• The opportunity of going through the issues that are important in starting and planning a business
• Encourage critical thinking
• Business thinking through curiosity, questioning and discussing topical issues

1. Identify and explain the key components of a comprehensive and effective business plan
2. Effectively research and analyse possible business opportunities, to the extent of being able to determine their commercial feasibility or, for social enterprises, their financial feasibility
3. Identify and address all issues necessary to formulate a viable business plan, including identifying the resources required for establishing a new venture, preparing a marketing plan, undertaking financial analysis, and determining strategies to ensure a sustainable competitive advantage or, for social enterprises, financial sustainability
4. Assess the risks associated with the establishment of a new venture, formulate strategies to manage these risks and develop contingency plans
5. Find creative solutions to business problems
6. Exhibit enhanced skills in working as part of a team
7. Exhibit high quality oral and written communication skills