DECISION MAKING FOR BUSINESS DEVELOPMENT

Scenario: Three years have passed since you set up your small business enterprise and you have made a comfortable living for yourself during this period. A few of your relative competitors have left the industry or concentrated on other product / service markets resulting in a growth in your customer base. Research has suggested that it could be the right time to develop the business to the next level so as to increase your customer base further and improve your presence in the market. Part of this growth / development strategy will be to change the legal status of the business from a sole trader to a partnership or private limited liability company. present a business case report for business development which must be supported by relevant theory. (Word Count – 1500 +/- 10%) Task 1: 1a - A brief overview of the current business. 1b - Identify three key reasons for business development. 1c - A set of business development objectives for the next twelve months. Task 2: - Discuss and justify the proposed new legal structure for the business. This should include the pros and cons of the two structures and your reasons for your choice. Task 3: - Identify and analyse the key business development decisions that need to be addressed. You will need to use relevant academic decision making theory to support your business development proposal. This should link to your business objectives and include arguments for and against the proposal. Task 4: - Discuss how your role in the business might change and the role(s) of any new partners / directors. Marking Scheme: Task 1 15 marks Task 2 15 marks Task 3 50 marks Task 4 15 marks Presentation: 5 marks Including - structure, relevant academic theory, referencing, grammar, spelling, etc.