Group Project Resources, Week 1 (1)

Aston Pre-sessional Centre for English Language and Communication at AstonAston Pre-sessional 2018Group ProjectWeek 1  How to write a Business Plan – simplified  Examples of the Business Plan outline  Sample adverts and product guides  Using Videopad software  About the Apprentice on BBC  Building an effective group at university 1

How to write a business planThe business plan captures the strategic operational and financial aims of thebusiness.A good business plan will contain: an initial executive summary, summarising the detail of the business proposal a written overview of the business' aims its product or service management team financial forecasts and appendices, such as the CVs of key management members, market research data or technical product information.The body of your business plan should cover several areas in detail.Give the reason for the business being established - include business goals, for example,whether ambitious growth is desired or a regular, steady trading level.Explain what your business will do in simple terms, highlighting any features that set it apartfrom rivals.Include market and competitor information, outlining what part of the market you aretargeting, key competitors and what differentiates you from them.Financial forecastThink about your sales and marketing strategy, include information on how the product orservice will be priced, channels to market, advertising and marketing plans.Details of key personnel and their relevant experience are also important, as is operationalinformation like office location, special equipment and expected employee headcount.Business plan essentials  Management background  Business aims - what are your future plans?  An assessment of the competition  Research to back claims and forecastsState the financing you need, based on your financial forecasts.Include details of any finance provided by the founder or management team and indicate thekey risks to the business and any mitigating action you can take.Your plan should also include a sales forecast, cashflow forecast and a projected profit andloss account for up to five years' ahead.Larger businesses should also draw up a projected balance sheet.The figures used must be reasonable - avoid being over optimistic. The involvement of aqualified accountant in preparing these forecasts is recommended.Story from BBC NEWS:http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/2943252.stmPublished: 2014/04/20 10:00:42 GMT© BBC 2014 2

A Business Plan OutlineThe Executive SummaryThis section summarizes the key elements of the entire business plan.The IndustryAn overview of the industry sector that your business will be a part of, including industrytrends, major players in the industry, and estimated industry salesMarket AnalysisAn examination of the primary target market for your product or service, includinggeographic location, demographics, your target market's needs and how these needs arebeing met currentlyCompetitive AnalysisAn investigation of your direct and indirect competitors, with an assessment of theircompetitive advantage and an analysis of how you will overcome any entry barriers to yourchosen marketMarketing PlanA detailed explanation of your sales strategy, pricing plan, proposed advertising andpromotion activities, and product or service's benefitsManagement PlanAn outline of your business's legal structure and management resources, including yourinternal management team, external management resources, and human resources needsOperating PlanA description of your business's physical location, facilities and equipment, kinds ofemployees needed, inventory requirements and suppliers, and any other applicableoperating details, such as a description of the manufacturing processFinancial PlanA description of your funding requirements, your detailed financial statements, and afinancial statement analysis 3

Example student business plan 1:Business Plan: Marketing Oreo Cookies in the UKThe Executive SummaryThis report outlines our business plan for marketing Oreo cookies in the UK market.The IndustryThe cookie industry brings in 4 billion pounds each year in the UK (IBIS World, 2015), and isexpected to grow…..Market AnalysisOur target market are native British young people and university students who have an open mindabout new biscuits.Competitive AnalysisThe cookie/biscuit market in the UK faces fierce competition (Smith, 2011). There are manyoriginal UK brands that are very popular in the British market. Direct competitors with ourproducts would be McVitts, Nesli Biscuit range and John’s British Biscuits (Jones, 2009). Thesethree brands together hold about 70% of the UK market (2009).Marketing PlanOur advertisements for Oreo cookies will consist of a series of short, humorous commercialstargeted at young people. The main message will be that Oreo cookies are perfect for anyoccasion, even when things go wrong in life.The commercial we have made features a young man and a young woman. The couple is sitting ona bench when the young man takes out a ring box…Management PlanTo carry out this plan we will need the following members of our team. First, we need a marketingmanager who will…Operating PlanOur UK offices are located in Birmingham. We have a staff of …Financial PlanFirst, we will need £2,000 to conduct market research. We will need £10,000 to create the initialads, £5,000 to manage the launch and promotion…References:References: Brown, T. (2014). The Marketing of Oreos in the UK. Marketing Journal. 3 (4) pg. 35-57…… 4

Example student business plan 2:Business Plan: Marketing Meitu Applications in the UKThe Executive SummaryThis business plan aims to analyse the application industry, and to explore the valueof Meitu App. In this section, the general information of the App industry in China, themarket and competitive analysis of Meitu App, the marketing, management, operatingand financial plan of Meitu App will be discussed.The IndustryApplication, which is abbreviated to App, is a kind of the third part applications applyto smart phone. It can be found that the development of Apps in smartphone marketis quick. Taking App store of Apple as an example, when it supported App store in2008, it just owned around 500 apps. However, the number of apps in App storeincreased to 500000. Therefore, there is increasingly number of companies useapplication to sale the product or service. Meitu app is one of the popular apps in theApp store. According to the market research, customer prefers to choose apps to playthe game or communicate with others (Chinabgao, 2014). There are some major appsin Chinese market, such as Wechat, Paybal and Meitu. Meitu is a company whichprovides the photo revised apps contain Meitu app, Meipai and Meizhuang, and ownsthe third biggest market share in Chinese app store(others (Chinabgao, 2014).Market AnalysisMeitu is one of the earliest picture applications in China. At the beginning, Meitu wasjust focus on the young generation who enjoy the selfie but worried about what theylooked like to change their skin style on the picture. Then, Meitu expand their productslines on both picture and video aspects, to adapt the whole generation and becomingthe leader of the picture app in China.Competitive AnalysisActually, since Meitu is one of the earliest and top picture applications in China, it hashigh brand loyalty. However, with the success of the picture app, increasing firms enterin this area, the competition in this market become intense. Although none of themwould be a threat to Meitu, it shares the market and customers.Marketing PlanOur advertisements for Meitu applications will consist of a series of comparison photostargeted at university student. The main message will be that using Meitu applicationscan make a better life, when people use social media, they can become more pretty,and every photo will be perfect after using these applications.The commercial we have used same photos to compare between before using Meituapplications and after using Meitu applications, we mainly shows MeituPic andMakeupPlus effects, and mentioned other Meitu applications at last. 5

Management PlanTo carry out this plan we will need the following members of our team. First, we needa marketing manager who will doing market research and make marketing plan.Second, we need an accountant to record all cash flow. Third, we need a IT engineerto operate and develop our applications. Finally, we need salesman to promote ourapplications in university.Operating PlanThe picture show currently has 200 million unique users, more than 18 million activeusers in a single day, and maintained a rapid development trend. Even if this companyhas such a large users but they can only earn a little money. They started pay moreattention to exploit professional camera phone. At the same time make more profit inadvertising sales, which can help the company profit and loss balance,Financial PlanAccording to our analysis, the total budget is about ¥23,000,000, since Meitu stillhas received a part of investment. It has a good market expectation. If they invest,they might get much more back than you expect.ReferenceChinabgao. (2014, November). The development trend of App industry in China. RetrievedSeptember 9, 2015, from Chinabao: http://www.chinabgao.com/k/app.html 6

Example student business plan 3:Mediawings TeamFood delivery industryThere has been an increasing trend of restaurants partnering up with delivery sites such asJust Eat, and Deliveroo because the demand for food delivered to homes is growing.Business Overiew 1. Background The company was established in 2006, with 9 restaurant partners in London by Shane Lake and Tony Charles. Today, the company has over 10,000 UK restaurant partners. 2. Products and services Takeaway and food delivery such as Indian, Chinese and Italian food by ordering food online at hungryhouse.co.uk and hungryhouse application. 3. Cities served Birmingham Brighton Glasgow Leeds Leicester Liverpool London Manchester Newcastle Sheffield 7

Target: UK HE StudentsIn UK there are 2,3 Million students (Higher education)4/5 live not with their parents 1,8 MillionSource: Higher education statistics agencyMost of them don’t have time to cook or don’t know how to do it.Our target is the 1,8 Million students living out of their houses.Other target is full time workers with few free time in the evening to cookBest cities where develop the businessMost important cities for students population:London: 403,750Birmingham: 79,135Glasgow: 78,950Manchester: 76,095Leeds 64,490Sheffield 63,350Edinburgh 58,850 *Coventry: 58,840 *Belfast: 56,000 *Liverpool: 54,800Newcastle: 50,350Bristol: 49,610 *Oxford: 44,020Cardiff: 44,000Leicester: 39,000Brighton: 35,205Cambridge: 31,470In red cities not available for our delivery* opportunity to improve businessSource: studentscities.co.uk 8

Competitors Indirect Direct Dominos Ready meal Just Eat Pizza & fast food specialized Free Delivery Food deliver: Chinese, India and Italian food Available in most cities of UK Free Delivery Price expensive, Avaliable around UK Over 30,000 restaurants partners Tesco Price cheap Ready cold meal Target limited budget, (students) Delivery not for free Limited Food choice Deliveroo Availbale in most cities of UK Price medium Food delivered: several cusines High quality Target Family Free delivery Avilable arounk UK Price expensive Target Picky eaters 9

Sample adverts and product guides'innocent smoothies'- was a startup small business, a good example of an advert for this product.Also with a healthy eating agenda- see the followingad: http://www.youtube.com/watch?feature=fvwp&NR=1&v=K4IWZk3px3o 'defeating bad eating' 10

https://www.youtube.com/watch?v=fjutRc2ExBg&feature=youtu.beUsing Video pad softwareThese tutorial videos give simple explanations about how to use video- padTutorial part 1 - http://www.youtube.com/watch?v=-AqYOwJVne0Tutorial part 2 - http://www.youtube.com/watch?v=A-zRkY2spZY 11

About the Apprentice on BBCThe Apprentice is a British reality television series in which a group of aspiring youngbusinessmen and women compete for the chance to work with the British business magnateLord Sugar.Open auditions and interviews are held across the country before a season begins, attractingthousands of applicants. About 75 candidates are called back for a second round in London,for assessment in groups, asked to do various exercises to test their business skills and howthey work in a team. After this, between 20 to 30 candidates are assessed by a psychologist,references are taken and other checks made. It is from this group that the final line-up ischosen.The TasksThe successful candidates are split into two teams, initially by gender, and each team choosesa team name. The teams are then given a season of business-themed tasks designed to testtheir skills in salesmanship, negotiation, requisitioning, leadership, teamwork and organisation,with each episode covering a single task. At the start of each episode, the teams each choosea project manager to act as the team leader for the duration of the task, though in laterepisodes the project managers are sometimes nominated by Sugar himself. The teams arefollowed in the execution of their tasks by Lord Sugar's advisers, Nick Hewer and Karren Brady.As candidate numbers are whittled down, the composition of the teams is periodicallyrearranged by Sugar.The BoardroomAfter completion of the task, the teams report back to the \"boardroom\", a studio mock-up of areal company boardroom. Here Lord Sugar, with the help of his advisers, reveals the resultsand discusses the teams' performance, exposing flaws in the candidates' strategies andThe losing team are subjected to a further detailed examination by Sugar, after which the team'sproject manager is required to choose two team members to accompany him or her into a finalround of interrogation. These are nominally the two poorest performing members of the team,but in practice the project manager may act treacherously and seek to remove more ablemembers of the competition, or make choices based on personality. Finally, Lord Sugardismisses one of the three with the catchphrase, \"You're fired!\", and that candidate is eliminatedfrom the competition.At the end of the series \"the finalists\" battle it out to compete for the chance of winning aninvestment backing from Lord Sugar. 12

Samples of game to watch and learn… what do do but also what not to do! To access these programmes, click on the link or copy and paste to open externally from Blackboard. You may be redirected to the BoB national login page which requires you to firstly state the name of your educational institution, then to login using your usual university username login details. The Apprentice, 1st June 2011 http://bobnational.net/programme.php?archive=60196&view=flash_player The Apprentice 2016, Episode 2 - Advertising Jeans Synopsis: The candidates are summoned to the Istituto Marangoni, where Lord Sugar tells them that for their next task they must create an advertising campaign for jeans made from Japanese denim. Teams need to design packaging, film a TV advert and create an attention-grabbing bus shelter advert, all before pitching the whole campaign to a panel of leading industry experts. https://learningonscreen.ac.uk/ondemand/index.php/prog/0D9ECEBE?bcast=122689626The Apprentice 2015, Episode 2 - Cactus ShampooSynopsis:The candidates are summoned to the Barbican Conservatory, where Lord Sugar tellsthem that they must create a new shampoo brand and design an advertising campaignto promote it. The product's unique selling point - its key ingredient is cactus-seed oil.Teams need to design packaging, film a TV advert and create an eye-catching digitalbillboard, all before pitching the whole campaign to a panel of leading industry experts.Half the candidates bash out the billboards, whilst the rest tackle the TV ads, but it isn'tlong before everyone's in a lather. On pitch day, the teams face some of the country'sbiggest industry experts, but it's a dry pitch for one team - and for the other a tongue-tiedcandidate threatens to tear a pitch apart. https://learningonscreen.ac.uk/ondemand/index.php/prog/0B3C9992?bcast=116693275 13

Building an effective group at universityThere are many occasions when you will be asked to work with other students on your course:tutorials and seminars rely on group discussion whilst group projects involve students workingtogether to complete a piece of assessed work. This guide focuses in particular on groupprojects that involve such activities as:  researching and writing a report;  devising and writing up an experiment;  working to a design brief to design a new product or service.Group projects often involve a substantial task that is undertaken over an extended period.You may be required to manage your own work independently of your teaching staff and theoutcomes of your group's work (a report, poster or presentation) may be assessed in a varietyof different ways. Advice on assessment methods can be found later on in this guide.The benefits of group workWhatever form the group work takes on your course, the opportunity to work with others, ratherthan on your own, can provide distinct benefits.  Increased productivity and performance: groups that work well together can achieve much more than individuals working on their own. A broader range of skills can be applied to practical activities and sharing and discussing ideas can play a pivotal role in deepening your understanding of a particular subject area.  Skills development: being part of a team will help you develop your interpersonal skills such as speaking and listening as well as team working skills such as leadership, and working with and motivating others. Some of these skills will be useful throughout your academic career and all are valued by employers.  Knowing more about yourself: collaborating with others will help identify your own strengths and weaknesses (for example, you may be a better leader than listener, or you might be good at coming up with the 'big ideas' but not so good at putting them into action). Enhanced self-awareness will both help your approach to learning and will be invaluable when you come to write your CV or complete job application forms.In order to maximise these benefits, you will need to manage your group work effectively.Stages in group workTo ensure a successful group outcome, you will find it helpful to divide your activities into aseries of stages:familiarisation; planning and preparation; implementation; completion.Managing each of these stages effectively will greatly enhance your group performance.Stage One - Familiarisation This is the stage when the individual members of the group getto know each other and begin to understand the task they need to undertake. Time spent at 14

this stage discussing your individual areas of interest and skills will be invaluable in helping your group develop a sense of its own identity (including its strengths and weaknesses).Make sure everyone understands what it is they will need to achieve. Think about:  the product: i.e. a report, oral presentation or poster- what guidelines have been set by your department to govern this work?  the time scale: i.e. date of final presentation or submission- what things need to be done before you hand in your work? how much time should you spend on the group project in relation to your other commitments?  the assessment: i.e. the way your activity or output will be marked do you know the assessment criteria? will you be assessed as a group or as individuals?If your group needs clarification of any of these issues then consult your course tutor.Stage Two - Planning and preparation This is the stage when your group should plan exactlywhat needs to be done, how it needs to be done, and who should do what. Pay attention to thefollowing:  agree the different elements of the task (e.g. a poster might involve background research, written text, an overall design, graphs and images, final assembly and so on);  agree the best way of achieving these tasks by dividing areas of responsibility amongst the group, making sure that roles and time commitments are as evenly balanced as possible;  make the most of your different areas of expertise by dividing tasks up according to the skills of different group members;  make an action plan of what needs to be done by when, working towards the final deadline.Stage Three - Implementation Whilst your group carries out its tasks you will need to preserveyour group's sense of purpose. Effective communication is vital, particularly when your groupactivity extends over time. Here are some tips to promote good communication.  Share addresses, telephone numbers and email addresses at an early stage to facilitate contact between members of the group.  If possible, set up an email distribution list for rapid communication so that issues or problems can be flagged up as and when they arise. 15

 Establish regular meetings of the whole group to check on progress and review action plans. Take notes at these meetings to help record complex discussions.Stage Four - Completion The final stage of your project is often the most difficult and mayrequire a different management approach. It will be vital to ensure that you pay close attentionto detail, tie up loose ends and review the whole product rather than your discrete part of it. Itis important to regroup at this stage to agree a new action plan for the final burst of activity.Trouble shootingOccasionally, groups can run into trouble, and it is useful to be aware of some of the problems(and the appropriate solutions) right from the start. The following list highlights some of themost common difficulties.  Unfair division or take-up of labour between different group members: this can lead to resentment if someone feels they are doing all the hard work or if the group thinks that one or more members aren't doing their fair share. Use your meetings to check that people are happy with their workloads and discuss problems openly, making sure that issues are addressed as a group concern rather than putting pressure on individuals.  Conflict between different group members: this might arise for many different reasons including two people competing for leadership or simple disagreement about ways forward. Don't be afraid to rotate leadership responsibilities or find ways of accommodating differing opinions. Your group practices should be flexible and democratic rather than rigid and leader-led.  Tackling inappropriate tasks as a whole group: groups are notoriously bad environments for carrying out such activities as writing first drafts of documents or carrying out detailed searches. Be aware of the limitations of group activity and don't be afraid to delegate responsibility for particular tasks to individuals.Always consult your course tutor if there are overwhelming problems in your group. Anindependent voice can often help diffuse tension and help your group get back on the righttrack.Making the most of assessmentGroup work may be assessed in a number of ways. Most commonly, groups are asked toproduce a single piece of assessed work (this could be an oral presentation or written report)whilst the individual members might be asked to provide a personal account of their work (thiscould be another report or a work diary). Group assessment can also take place through theuse of a viva with small groups being interviewed together to discuss their work or individualgroup members interviewed in turn to talk about their contribution. 16

Planning effective oral presentations If you are making a group presentation, make surethat this is written and rehearsed as a group. Share opportunities for speaking rather thanmaking one person do all the work (unless there are too many people in your group or therejust isn't enough time). Change speakers in strategic places, using the different voices tostructure your presentation (e.g. one person could take the introduction, another the maindiscussion, a third the conclusions). Finally, use effective linking statements to announce thehandover from one speaker to another, e.g.:So far we've looked at the methods used in the design process. I would now like to hand overto Melissa to talk about the features of the final product.Writing a group report Writing a group report can be challenging. If you divide responsibilityfor drafting chapters or sections between the different members of your group, you will needto nominate someone to take overall responsibility for pulling the final piece together. Carefulcopy editing at this stage is essential to make sure that the document is logical and consistent.Key things to watch out for here include:  have the authors used the same writing style (tense/voice/person)?  do the individual sections lead on from each other logically?  is the use of references, units, abbreviations and notation consistent?You will need to make sure that you have left plenty of time for this final stageSummaryThe skills acquired from successfully managed group work will be of great use to youracademic and future careers. It is essential to manage your group work effectively, planningfor the different stages of group activity. Time spent discussing how your group will worktogether will be invaluable in helping to create a constructive working team. The effectiveorganisation, communication and trouble-shooting strategies described in this guide will helpyour group work productively to complete its task. 17