Business Plan - Technology - Problems in Society - Industrial - Entertainment - Business Assessment Answer

Assessment Task:

Part 1: 
Project – Conduct background research (using available and reliable information sources such as EBSCOhost and other research journals dedicated to business, society, technology, and innovation, and identify:
• unsatisfied needs/wants/desires of customers, problems in society in Australia/overseas
• emerging trends in various sectors (e.g. financial; energy; industrial; telecommunication; food and hospitality; real estate; retail, etc.)
• new technologies, inventions and innovations (e.g. digital technology and media, communication technology, entertainment, agriculture / alternative farming, etc.)

Part 2: 
Project Part 2 of your business plan should contain detailed discussions of the following:
• Financial. Identify, outline, and estimate variable costs and fixed costs and the amounts. Support your estimated amounts by research you had conducted. Based on the data you had provided, estimate operational cost per month and calculate the Break-Even Point in Number of services and sales value. Consider a wage increase of 3% and overhead costs to go up by 5% due to price increases for the next year. Based on these price increases, calculate the new Break Even Point for the next year.
• Social, Environmental, Entrepreneurial (SEE). Describe the corporate governance plan for your business and explain social, environmental, and entrepreneurial component of your business – identify and discuss specific SEE KPIs your business is going to monitor, measure, and report to stakeholders. Describe any Intellectual Property (IP) you are developing for the business, if any, and how you intend to protect your IPs.
• Critical Risks. Discuss potential risks and any potentially unfavourable industry-wide trends destabilising the business (e.g. new entrants, price cutting by competitors, government actions, changes in consumer taste and societal demands, difficulties and unexpected problems beyond business control and what you are going to do (provide risk-management strategies) to minimise negative impact on your business.
 

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