Analyze the following tasks in relation to the Business Plan:
Key Challenges
Varying statistics abound as to the high rate of failure of Small to Medium Enterprises. Most seem to indicate somewhere in the region of a 50% rate of failure within the first 5 years.
Analyse and critically evaluate three (3) specific challenges that your business will likely face during the start-up phase. Outline the various tactics or practices that you will employ to mitigate these challenges.
Please refer to relevant quality research e.g articles, recent reports etc where relevant to justify points.
Primary and Secondary research.
Assess the possible contribution of 3 alternative primary or secondary sources, which were not utilised but could have been utilised for your business plan. In your answer, assess the overall value these sources could provide, with reference to the particular sections of the business plan to which they relate. Please refer to relevant academic sources e.g textbooks to justify your answer.
Sustainable Practices
The issue of Sustainability has taken centre stage now in both society and in the world of business. Companies right across the world are ensuring that the Product or Service they are offering does not harm either the Planet or the People involved in its production and that their business contributes to their local as well as national economy in an ethical and sustainable manner. Choosing 3 aspects of your company’s operations (e.g energy, waste, suppliers, employees, the community etc) and informed by best practice, analyse the importance of each of these aspects and examine the response of your business in these specific areas.
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