Instructions to Learners
You should read the information given in the vocational context and each task section of this assignment carefully prior to starting work. Tasks often link to one another, so it is important to make sure you understand all tasks before starting the assignment.
The assignment will take approximately 6 hours of monitored preparation and 5 supervised hours to complete.
This is divided into approximately:
- 2 hours of monitored preparation and 2 hours of formal supervision to complete Task 1
- 2 hours of monitored preparation and 1 hour of formal supervision to complete Task 2
- 2 hours of monitored preparation and 2 hours of formal supervision to complete Task 3.
These timings are for guidance only but should be used as an indication of how long to spend on each task. Your teacher will advise you when it is time to move from one task to the next.
You must work independently and should not share your work with other learners.
All work must be your own and you must sign a declaration of authenticity to confirm this. You must produce your own independent responses and evidence for the tasks.
Any sources of information, ideas, text, audio and/or visual assets created by others that you include in your work must be clearly identified and referenced, including the source of the material. Using the work of others as your own or without proper acknowledgement is considered plagiarism and can result in disqualification from the assessment.
Do You Need Assignment of This Question
You may ask your teacher for support if you have questions about the requirements of tasks, what evidence you need to produce and any resources you are allowed to access e.g. the internet to source audio/visual content. Your teacher cannot give you feedback about how to improve your work or guide you to solutions to any questions or problems in the tasks.
Resources needed
You will have 6 hours of monitored preparation time prior to undertaking Tasks 1–3.
Your teacher will tell you when you should complete the monitored preparation and when formal supervision for the tasks will begin.
Based on your preparation, you should produce notes to refer to when completing Tasks 1–3. Your notes may be up to six sides of A4 paper. The notes may be handwritten or typed (font size must be 10 point minimum).
Your notes should be in bullet or annotation form and cannot include:
- attempts to pre-prepare responses to the tasks
- a completed PEST analysis or SWOT analysis
- full paragraphs or extended sentences.
Vocational context
To be successful in setting up and running a for-profit enterprise you need to understand the different types and sizes of profit-making enterprises, their aims and how they achieve these aims. Understanding the market plays a key part in enterprises making a profit. It is therefore important that you understand how enterprises can use market research to understand their competitors and meet their customers’ needs. As the success of an enterprise depends on the decisions made by the entrepreneur, you also need to understand how internal and external factors in the business environment affect decision making.
The success of an enterprise depends on whether it can meet its aims.
You need to choose a small or medium for-profit enterprise that is based anywhere in the UK, from at least one of the following sectors:
- goods
- flips
- education
- hospitality.
Buy Answer of This Assessment & Raise Your Grades
Tasks
Task 1
Task 1a – The impact of the activities carried out by the selected enterprise to its success
Choose and carry out research on one for-profit enterprise. The selected enterprise must be small-or-medium-sized and come from at least one of the following sectors:
- goods
- flips
- education
- hospitality.
Produce a response that explores the impact of the activities carried out by the selected for-profit enterprise in helping it to support its aims.
Your response must include:
- details of at least three specific and detailed activities carried out by the for-profit enterprise
- how each of the specific activities help to support the enterprise’s aims
- supported judgements about the impact of each of the activities in helping the enterprise to support its aims.
(12 marks)
Task 1b – The impact of the skills and characteristics of the entrepreneur associated with a selected enterprise to its success
Produce a response that explores the impact of the skills and characteristics of the entrepreneur(s) associated with the selected for-profit enterprise in Task 1a in helping it to support its aims.
Your response must include:
- details of at least two specific skills and at least two specific characteristics of the entrepreneur(s) associated with the selected for-profit enterprise
- how each specific skill and characteristic helps the entrepreneur(s) to support the aims of the selected for-profit enterprise
- supported judgements about the impact of each of the skills and characteristics of the entrepreneur(s) in helping to support the aims of the for-profit enterprise.
(12 marks)
Learning outcome covered
Outcome A: Understand how and why enterprises and entrepreneurs are successful
Checklist of evidence required
Produce one of the following:
- a written report of approximately 2–4 pages of A4, which can include supporting images
- an audio or video verbal report recording lasting approximately 2–4 minutes.
Resources needed
- Research notes.
- Appropriate software and access to the internet for sourcing audio/visual content during the formal supervision.
Supervised hours to complete the tasks
You will need approximately 2 hours to complete Task 1.
(Total for Task 1 = 24 marks)
Are You Looking for Answer of This Assignment or Essay
Task 2 – Market research methods
Investigate the primary and secondary research methods used by the selected for-profit enterprise in Task 1 and the information this provides the enterprise on customer needs and competitor behaviour.
Produce a response that explores the primary and secondary market research methods undertaken by the selected for-profit enterprise; recommending alternatives to the market research methods that could help the enterprise gain further information about its customer needs and competitor behaviour.
Your response must include:
- the benefits and drawbacks of at least one primary and at least one secondary market research method that the selected for-profit enterprise undertakes
- the information that the primary and secondary market research methods provide about customer needs and competitor behaviour
- supported recommendations for at least one alternative primary and at least one alternative secondary market research method that could help the for-profit enterprise gain further information about its customers’ needs and competitor behaviour.
Learning outcome covered
Outcome B: Understand customer needs and competitor behaviour through market research
Checklist of evidence required
Produce one of the following:
- a written report of approximately 2–4 pages of A4, which can include annotated screenshots
- a podcast with annotated screenshots provided alongside.
Resources needed
- Research notes.
- Appropriate software and access to the internet for sourcing audio/visual content during the formal supervision.
Supervised hours to complete the tasks
You will need approximately 1 hour to complete Task 2.
(Total for Task 2 = 12 marks)
Continue
Task 3
Task 3a – PEST analysis
Carry out research on the external political, economic, social and technological factors affecting the selected for-profit enterprise.
Produce a report that explores the external factors affecting the selected for-profit enterprise based on the research undertaken. Your report should consider the following factors:
- political
- economic
- social
- technological.
Your report must include:
- a detailed and supported PEST analysis for the selected for-profit enterprise
- supported recommendations about the actions the selected for-profit enterprise could take based on the results of the PEST analysis.
(12 marks)
Task 3b – SWOT analysis
Produce a report that explores the internal strengths and weaknesses and the external opportunities and threats faced by the selected for-profit enterprise based on the research undertaken and your understanding of the selected enterprise from Tasks 1, 2 and 3a. Your report should consider the following factors:
- strengths
- weaknesses
- opportunities
- threats.
Your report must include:
- a detailed and supported analysis of the strengths and weaknesses for the selected for-profit enterprise
- how each strength and weakness will allow the selected for-profit enterprise to take advantage of opportunities and minimise threats
- supported judgements on the potential impact of the strengths, weaknesses, opportunities and threats on the selected for-profit enterprise.
(12 marks)
Do You Need Assignment of This Question
Learning outcome covered
Outcome C: Understand how the outcomes of situational analyses may affect enterprises
Checklist of evidence required
Produce the following:
- a written report of approximately 2–4 pages of A4, which can include annotated screenshots.
Resources needed
- Research notes.
- Appropriate software and access to the internet for sourcing audio/visual content during the formal supervision.
Supervised hours to complete the tasks
You will need approximately 2 hours to complete Task 3.
(Total for Task 3 = 24 marks)
TOTAL FOR ASSIGNMENT = 60 MARKS
Buy Answer of This Assessment & Raise Your Grades
The post W84512A Enterprise Assignment: Business Analysis of a UK-Based SME Using Market Research, PEST & SWOT Tools appeared first on Students Assignment Help UK.