Business Planning

Description

Student will structure themselves as small businesses that will be designed to operate as either for profit or not for profit organisations. During the course, these small businesses with decide on specific products or services as their future core activities. They will develop a business based organisational structure and hierarchy, with students being elected and delegated to fill the various positions. Collectively, they will prepare a business plan for their operations, which will be acted upon in the related session 2 course.

During the planning stage, the businesses will explore creative and evaluation techniques to determine the nature of their products or services, they will conduct and interpret market research to refine and validate the financial viability of these products or services. Each business plan will include an operational plan that will describe the strategy and steps by which the business will become a reality and should ultimately be a financial success as well as meet its initial objective (mission). Issues that will be considered and documented throughout the course include; product development, market research, sales and marketing, finance, accounting, human resources, sales, manufacturing, risk analysis and management. Professional skills that will be developed include communication, team work, analytical thinking, management, leadership and planning.