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*NEW*Unit 19: Pitching for a New Business P1,P2,P3,P4,P5,P6,M1,M2,M3,D1,D2,D3 - (Whole Assignment) - DISTINCTION*Graded

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Contains all Learning aims - ABC: Pass, merit and Distinction tasks all included Learning Aim A: Explore potential ideas for a micro-business start-up A1 Exploration of ideas for a micro-business start-up • Idea generation for new products, services and/or market for business opportunities. • Decision matrix: generation of selection criteria and scoring for business opportunities. A2 Models for business opportunities • Business activity: primary, secondary or tertiary sector of activity. • Processes: manufacturing, outsourcing, sourcing, channels to market. • Organisational form: structure, roles and responsibilities. A3 Factors to be considered when setting up a micro-business • Capability and core competencies. • Time constraints. • Financial constraints. • Potential stakeholder influences. • Access to physical resources. • Availability of IT. • Environmental influences. • Internal risks. • External risks. Learning aim B: Develop a business plan for a viable micro-business start-up B1 Market analysis and planning • Target market definition. • Secondary and primary research. • Business environment: Porter and PESTLE. • Marketing mix. • Unique selling points (USPs). B2 Legal aspects • Business legal form and liability insurance. • Consumer protection legislation. • Employment legislation. • Health and safety legislation. • General Data Protection Regulations (GDPR). • Environmental protection legislation. B3 Financial aspects • Pricing policy. • Sales forecasts. • Projected costs: set-up, fixed and variable costs. • Break-even forecast. • Cash flow forecast. • Forecast opening and closing statement of financial position, capital structure to show investment necessary from potential investors. • Forecast income statement for trading period. B4 Evaluation • Marketing mix SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. • Financial forecasts, including liquidity analysis, profitability analysis, sensitivity analysis. UNIT 19: PITCHING FOR A NEW BUSINESS Pearson BTEC Level 3 National Extended Diploma in Business – Specification – Issue 15 – April 2023 © Pearson Education Limited 2023 172 Learning aim C: Carry out a pitch for funding for the chosen micro-business C1 Documents and materials for pitch to audience • Appropriate documents and materials that are detailed, appropriate, and relate to individual business proposal. • Documentation to support funding investment. • Evidence of exploration of potential questions and answers from potential investors, including risk, expectations for return, share ownership and voting rights, percentage of shareholding and control. C2 Professional presentation skills demonstrated in the pitch • Presentation, behaviour and conduct of presenter, e.g. attire, attitude, business-like skills, suitable for audience, well prepared. • Negotiation and communication skills. C3 Review and evaluation of the pitch • Receive feedback on the business content of the pitch, analyse feedback and make amendments accordingly.

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Unit 19: Pitching for a New Business

HOW BUSINESS IDEAS ARE GENERATED

Technical breakthrough and Aeroplane
invention
The Wright brothers were the first people to
This is where ideas are generated technical come up with an idea, to make
areas that are generally outside the normal transportation through a machine that could
public population fly in the air, now known as an aeroplane.
The Wright brothers got this idea in 1878, the
brothers' father, Milton Wright, brought
home a rubber band powered toy helicopter.
They even attempted to build their own toy
helicopters, this influenced them to later on
build an actual mobility machine, known as
an aeroplane. They started production of
their first powered aircraft in 1903 While the
aircraft was successful, this later became a
huge technical breakthrough and invention
that then allowed the invention of what we
know today as an Aeroplane. Due to the
Wright brothers' idea that proved successful,
transportation was then made easier and
quicker. People were now able to move
around the world through the use of
aeroplanes, rather than on boats which were
inconvenient and very time consuming when
travelling abroad, going to different
countries.

Internet

The way the internet came about was by a
computer programmer in Switzerland named
Tim Berners-Lee, who introduced the World
Wide Web: an internet that was not simply a
way to send files from one place to another
but was itself a “web” of information that
anyone on the Internet could retrieve.
Berners-Lee created the Internet that we
know today. The reason why the internet

, came about at that time in the 1960s, was
that it can be used as a way for government
researchers to share information. This
eventually led to the formation and technical
breakthrough of the ARPANET (Advanced
Research Projects Agency Network), the
network that ultimately evolved into what we
now know as the Internet. On 6 August 1991,
exactly twenty years ago, the World Wide
Web became publicly available. Its creator,
the now internationally known Tim Berners-
Lee, posted a short summary of the project
on alt. hypertext newsgroup and gave birth
to a new technology which would
fundamentally change the world as we knew
it. Now anybody can use the internet, it’s a
way to connect to people through social
media applications, access the WWW and
other sorts of things.

Virtual assistant

Emerging to the virtual assistant sector,
which has now become the most profitable
and sought-after work industry. In the early
1940s, the idea of a virtual assistant was
born. Sir Isaac Pitman devised the shorthand
method, which opened the way for the
secretarial services business to take off.
Typewriters gave way to word-processing
systems, and word processors gave way to
telephones and fax machines as technology
advanced. Anastacia Brice conceived the first
concept for "Virtual Assistant" after she had a
simple phone discussion with Thomas
Leonard in 1996.The first virtual assistant,
however, emerged in the early 1990s with
IBM Simon. With IBM and Philips, it was a
digital voice recognition technology that
became a feature of the personal computer.
Apple was the first company to initiate the
actual creation of virtual assistance to their
smartphone. Siri, the first contemporary
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BTEC Business Level 3 ALL Units

⭐5 STAR RATED SELLING THE BEST COURSES⭐BUY NOW! Achieve exceptional grades with my expertly designed courses, all certified to ensure you earn distinctions. Don't settle for less—excel with the best. Exploring Businesses,managing an event, international business, recruitment and selection process, investigating customer service, visual merchandising, investigating cooperate social responsibility, training and development, pitching for a new business, market research, branding, investment opportunities and financial planning

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