Common Curriculum Elements embedded in this task:
Comprehend & collect Structure & sequence Analyse, assess & conclude Create & present Apply techniques & procedures
7. Translating from one form to another
45. Searching and locating items/information
48. Manipulating/operating/using equipment 9. using vocabulary appropriate to a context
10. Summarising/condensing written text 37. Analysing
41. justifying
20. structuring/organising extended written text
22. Explaining to others
25. Comparing and contrasting 8. Using correct spelling, punctuation, grammar
13. compiling results in a tabular form
19. setting out/presenting/displaying/arrainging 33. applying a progression of steps to achieve the required answer
15. calculating with or without a calculator
18. Substituting in formulae
Topic: Events Management: Financial, Operations & Marketing
Students are to complete a business feasibility study with regards to preparing an event
BUSINESS
MANAGEMENT
Year 12
2016
SEMESTER 1
Business Feasibility Study
INSTRUMENT: 7
CRITERIA ASSESSED STANDARD AWARDED
Knowing & Understanding Business Management
Applying & Analysing Management Strategies
Evaluating & Communicating Management Strategies
Moderated
1. Key Date/s
Issed: Tuesday April 26 2016
Draft Due: Friday May 20 2016
Final Due: Friday June 3 2016
2. Time Allowed
Working Time: 5 weeks
3. Conditions and Nature of Assessment Task
• The assignment is to be completed in class and in own time.
• Access to computers and internet resources, and other reference
material is needed.
• Word limit: 1000-1500 words
• Submit to Seqta and Turnitin. Hard copy must also be provided.
5. Points to Observe
a) Read the requirements of the task very carefully and ensure that you have carried out all of the instructions.
b) It is your responsibility to secure your work and periodically save. A current copy of your assignment must always be available in your H drive and OneDrive folder at all times. You must also maintain a back-up copy of your work.
c) Loss of work for reasons, other than those caused by network problems, will not be grounds for an extension.
d) Students seeking an extension must follow the procedures outlined in the School Diary and produce all drafts, notes and resources with application. These are to be shown to the Head of Department and class teacher.
e) Spelling and accuracy will be considered within each task.
f) If assessment is not submitted on the due date, the draft will be used to allocate a level of achievement.
Authenticity Statement:
STUDENT DECLARATION: “By uploading this assignment electronically, I hereby certify that this assessment item is my own work based on my personal research. I can prove authorship through production of drafts (if applicable) and I am willing to answer questions if deemed necessary. I have kept a copy of this assignment.”
Knowledge and Understanding Business Management
Student Name: ¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬____________________________________
Standard A Standard B Standard C Standard D Standard E
The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics:
• Thorough definition and discerning use of relevant business management terms, concepts and theories relating to Marketing, Operations & Financial Management.
• Detailed definition and appropriate use of business management terms, concepts and theories relating to Marketing, Operations & Financial Management.
• Definition and use of business management terms, concepts and theories relating to Marketing, Operations & Financial Management.
• Simple definition and use of some business management terms, concepts or theories relating to Marketing, Operations & Financial Management.
• Use of some business management terms, concepts or theories relating to Marketing, Operations & Financial Management.
• Thorough description of business situations using a comprehensive range of relevant examples relating to Marketing, Operations & Financial Management.
• Detailed description of business situations using a range of examples relating to Marketing, Operations & Financial Management.
• Description of business situations using examples relating to Marketing, Operations & Financial Management.
• Simple description of business situations using few examples relating to Marketing, Operations & Financial Management.
• Statement of elements of business situations relating to Marketing, Operations & Financial Management.
• Comprehensive explanation of complex management processes and strategies relating to Marketing, Operations & Financial Management.
• Detailed explanation of management processes and strategies relating to Marketing, Operations & Financial Management.
• Explanation of management processes and strategies relating to Marketing, Operations & Financial Management.
• Cursory explanation of simple management processes and strategies relating to Marketing, Operations & Financial Management.
• Statement of management processes or strategies relating to Marketing, Operations & Financial Management.
OVERALL STANDARD
Knowledge and understanding business management
Applying and Analysing Management Strategies
Student Name: ¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬____________________________________
Standard A Standard B Standard C Standard D Standard E
The student work has the following characteristics The student work has the following characteristics:
The student work has the following characteristics:
The student work has the following characteristics The student work has the following characteristics:
• Purposeful selection and organisation of business information from a comprehensive range of valid primary and secondary sources
• Purposeful selection and organisation of business information from a range of valid primary and secondary sources
• Selection and organisation of business information from primary and secondary sources
• Partial organisation of business information from sources
• Statement of business information
• Discerning and systematic application of knowledge in business situations to identify a comprehensive range of issues relating to Marketing, Operations & Financial Management
• Systematic application of knowledge in business situations to identify a range of issues relating to Marketing, Operations & Financial Management • Application of knowledge in business situations to identify issues relating to Marketing, Operations & Financial Management • Simple application of knowledge in business situations to identify issues relating to Marketing, Operations & Financial Management • Statement of issues relating to Marketing, Operations & Financial Management
• Thorough and discerning analysis of business information and management strategies, and accurate interpretation of a comprehensive range of trends, patterns and relationships relating to Marketing, Operations & Financial Management
• Detailed and informed analysis of business information and management strategies, and accurate interpretation of a range of trends, patterns and relationships relating to Marketing, Operations & Financial Management • Analysis of business information and management strategies, and interpretation of trends, patterns and relationships relating to Marketing, Operations & Financial Management • Partial analysis of business information or management strategies, and identification of some trends, patterns and relationships relating to Marketing, Operations & Financial Management • Statement of trends, patterns or relationships relating to Marketing, Operations & Financial Management
OVERALL STANDARD
Applying and analysing
management strategies
Evaluating and Communicating Management Strategies
Student Name: ¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬____________________________________
Standard A Standard B Standard C Standard D Standard E
The student work has the following characteristics The student work has the following characteristics:
The student work has the following characteristics:
The student work has the following characteristics:
The student work has the following characteristics:
• thorough and insightful evaluation of management strategies to formulate valid and purposeful recommendations
• detailed evaluation of management strategies to formulate valid recommendations
• evaluation of management strategies to formulate recommendations
• simple evaluation of management strategies to state recommendations
• description of management strategies or statement of simple recommendations
• well-reasoned justification of recommendations using relevant evidence
• coherent communication with discriminating use of language conventions to suit audiences and purposes.
• valid justification of recommendations using relevant evidence
• clear communication with appropriate use of language conventions to suit audiences and purposes.
• justification of recommendations using evidence
• communication using language conventions to suit audiences and purposes.
• simple justification of some recommendations
• communication using inconsistent language conventions. • statement of opinions
• communication that impedes meaning.
OVERALL STANDARD
Evaluating and communicating
management strategies
General Instructions
1. You must word process your report.
2. All research notes must be identified and sourced in your bibliography.
o All work must be academically referenced using the APA method
o In-text referencing must be used and your final submission should also be submitted through Turnitin.
3. Correct spelling and ability to communicate effectively in the appropriate genre will be considered.
4. Class time will be allocated to complete the task, but you must also allow for individual study time, as the research component, and data collection is quite comprehensive.
5. You must adhere to all check dates and work must be submitted in the correct format and portals by the due date.
6. Late submissions will have limited feedback.
o Draft will be marked to a satisfactory progress of work completed to date.
o Completed draft and final electronic copy of all required material, will need to be submitted via Seqta and Turnitin.
o check for the labelled portals to complete this process
7. The final copy must also be submitted as a hard copy.
o It should be presented in an appropriate manner,
o it should be bound and in a format that would be presented to your client to peruse (eg bound or report presentation folder – not a display folder)
CONTEXT
You are to assume the role of a consultant specialising in Events Management. You currently work for an organisation called: “We Make it Happen”. Your company is very successful as it considers all aspects of events including the financial, marketing and operations management.
Recently, you have met with a client, Mr Beiers, Deputy Principal Mission at Brigidine College, Indooroopilly. The meeting has produced the following summary:
? To propose and subsequently research the feasibility of a fundraising event for the theme of “An afternoon in paradise”, with regard to specific marketing, operations and financial management and strategies.
TASK
You are to prepare a business feasibility study (1000-1500 words) to present to the client, as to the feasibility of launching the event based on the report of Marketing, Operations and Financial Management strategies. You are to provide valid recommendations and well-reasoned justification.
Business Feasibility Study: TASK GUIDELINES:
You are to complete a written business feasibility study of 1000-1500 words.
• Feasibility studies do NOT include: definitions or appendices.
• Feasibility studies may include: subheadings, bullet points, tables, charts and diagrams.
• Ensure you present findings (from primary and secondary research) in the written document.
o Primary research must be gathered using a market research survey such as survey monkey (https://www.surveymonkey.com), interviews with relevant key business representatives and the collection of data from observations.
o Secondary research must be included. In-text referencing and a reference list must be used (refer student diary). Ensure your work is in your own words, if referencing include author’s details, do not plagiarise.
BUSINESS FEASIBILITY STUDY STRUCTURE
(complete in report format)
TITLE PAGE
• Business Feasibility Study, Product / Business name, Prepared by: (Your name, your title)
EXECUTIVE SUMMARY
• The main purpose is to gain the reader’s attention.
o Give a brief and clear overview of the key points of each section of your feasibility.
o This is written last once all sections have been completed.
TABLE OF CONTENTS
• Include page numbers and appropriate formatting.
PROFILE OF THE EVENT – 50-100wds
a) Write a description of your proposed event, using relevant examples. KU
o the client has requested for the event to be based on the theme of
“An afternoon in paradise”,
o propose a concept and format for the fundraiser.
Some examples may include:
o a catered afternoon tea within the proposed theme,
o a carnival atmosphere with stalls in the theme
o taking the tropical theme as it is in support of the recent cyclones in Fiji
b) Identify and explain the target market for the proposed event (KU)
RESEARCH– 150-200wds
a) Select and organise business information to manage the proposed event, by conducting research into similar concepts, with specific focus on:
o Marketing, Operations and Financial management.
? This will include primary (eg create your own survey) secondary sources (eg texts, publications)
o This may include aspects such as
? pricing, entertainment, suitable venue, determining what the market needs.
b) Present your research results in diagrams, charts, bullet points as appropriate.
o You may consider to include research in the format of websites, journals, textbooks, interviewing techniques with events managers or financial managers
c) Interpret and analyse trends, patterns and relationships in the market with regard to organizing events of this nature. (AA)
FINANCIAL MANAGEMENT STRATEGIES – 400-500wds
a) Explain relevant financial management processes that could be used to achieve the business goals and objectives for this particular event KU
b) Apply financial knowledge to identify key financial issues with regard to organising events. KU
c) Prepare a graph to record the comparison of possible expenses and projected revenue from the information prepared in the budget for the event. AA
d) Interpret the meaning of financial tables/graphs that you have prepared for the client with regard to the financial requirements to conduct the event and compile statistics of financial records to analyse and make management decisions
e) Evaluate the options this client has to obtain funds for this event. Compare and contrast financial options from internal and external sources. EC
1. Financial Forecasts and Analysis, Sources and Uses of Funds:
? (Cash Budget)
There will be a request for funding
a) Prepare an estimated budget (use the template provided)
b) Compare estimated expenditure and revenue.
c) Financial analysis, advise the client on the following:
? (how much money is needed to plan, implement and evaluate this event?)
? provide a budget breakdown based on estimated resource requirements and make a funding request to the client. (outline possible sources of funds) (EC)
d) Explain key considerations in formulating these strategies. (KU)
o include relevant graphs and charts to compare data
e) Analyse the sales and profit projections?
? Break even analysis: explain and analyse this strategy and it’s relevance in financial management for the event.
• When will break-even be achieved?
• prepare a chart depicting this
• How readily can costs be reduced/covered?
2. Risk Analysis:
a) Prepare a SWOT analysis of the event
b) Identify and evaluate any possible risks and discuss and recommend strategies to minimise the risks. EC
c) Analyse how the issues identified will impact on the likely success or failure of the event. (AA)
PROMOTIONAL STRATEGIES: Marketing Aspect – 200wds
a) Identify promotional strategies that could be used (KU AA)
Must include but not limited to:
o Create a possible logo for the event.
o Select and organise business information to design a flyer or poster that highlights the event and your logo.
b) Explain key considerations in formulating your promotional strategy. Evaluate the effectiveness of this strategy and justify your recommendation.
OPERATIONS: 400 Wds
a) Evaluate the most effective operational strategies and the requirements to organise the event, referring to your research, in order to manage the event, provide justification for your recommendations. EC
b) Recommend and justify strategies to implement to ensure quality control at an upcoming event.
• Develop strategies to improve quality of the product/service KU
c) Prepare a sample GANTT chart for the client to indicate the process involved in the management of this event.
d) Explain how to acquire key resources such as equipment, services/supplies.
e) Discuss the concept of strategic and operational planning and how it may apply in this case.
CONCLUSION – 50wds
• Based on your research, formulate recommendations on the viability of launching this product in the market. You must justify this using evidence. (EC)
REFERENCE LIST
• ensure that you include a complete bibliography