Yr11 Yrly - nid help (1 Viewer)

[テリー]

Our teacher gave up one question of the whole yrly paper which is tmr
Here goes

Betty and Phil are husband and wife. They are in their mid-30s and looking for a change of lifestyle. Betty is a teacher and Phil is a truck driver. Both have agreed to resign from their jobs to pursue their dream of running their own business. they have decided to start up a small bus tour company which takes people on day trips from Sydney. The ours will focus on areas that offer sites of historical significance and amenities such as wineries and restaurants.

Write a business report to Betty and Phil that recommends they follow the business planning process if they are to succeed. Propose and explain a range of operations, marketing and financial strategies that the couple should consider when developing a plan for their proposed business


Is this question asking me to write a business report or plan??
nd if its business plan, Can some1 pls gimme some tips, or even better an example business plan?
Thx in advance ^^

 

[B35tY]

Well its your work, but i'll try to help

Firstly, it asks for a business report that should convince them to use a business plan. Read it carefully so you don't make a mistake. In this part you'll need to point out the advantages and importance of writing a business plan (that's your job).

Next, the marketing, financial and operations strategies. Just point out a variety of things that they owners should use, such as Betty's people skills from her teaching, and Phil's driving experience.

How should they market their product? Remember that marketing is not just promotion, and go through the 4 Ps.

I don't remember how much of the financial work was in year 11 and how much in year 12, so some things i would use are probably HSC year work. But i would explain the need for capital to start the business, due to the high costs of a business in the establishment cycle (good place to use business life cycle diagram), and propose a source of finance (this part might not be necessary).

While writing your report, make sure you use buzzwords/keywords like "sustainable competitive advantage" and diagrams like the aforementioned business life cycle and maybe a SWOT analysis.

If you do all that you should be fine.

 

[テリー]

oh thx man, that shud help a lot ^^

 

[Testpilot]

In your Business Report make sure you list all the alternative etc and the come to a conclusion. Doing this will get you good marks.

Oh, and threadstarter nice F-117a Nighthawk. Also, with nearly 50 posts to your name you may/may not have noticed but people on this website will criticise your short hand writing, its the internet not sms, so in the future please consider others and write in full gramatically correct English.

Yes, I'm am aware that there is probable mistakes in the above paragraph but English is my worst subject.