Are you a student who has to write the BUS3ENT assignment 3 answers? Then you are at the right place because here you will not only get an explanation of the assignment but also an overview of how to write your BUS3ENT assignment 3 answers. All of this explained by a business management assignment help expert at My Assignment Services.
A detailed explanation of the assignment is given in the blog post below.
1. Framing the introduction
Since this report is for a business model, you must have a business idea in mind. Either you will have to choose one on your own or the question will have one. Writing BUS3ENT assignment 3 business plan report is where you will highlight that business idea. Make your introduction such that the reader understands the idea.
For example, The 21st century is facing growth-related problems and the quality of air. After a thorough analysis, it came into light that not turning off the vehicle engine at intersections contribute highly to this. Hence, we are devising a synchronisation of the vehicle ECU and the traffic control so that the engine turns itself off automatically while the vehicle is idle at intersections.
You got that, right? Define the problem as well as the solution in your BUS3ENT assignment 3 answers.
2. Talk about the various components
Lay down all the information that you think is necessary for the readers to be aware of, like –
- The structure of the business. Since this is an individual business model and plan, you will be running the show as a sole trader.
- Where will you set up the business? If it is e-trading, mention the location where you will have the business office.
- The customer segments that you have identified and will be targeting.
- What key resources does the business require you to have in order to run the show smoothly?
Your BUS3ENT assignment 3 answers will include an overview of the above pointers.
3. Market analysis is the key
When you are writing the market analysis for business, make sure that you are providing sufficient facts and figures to support your claims.
For example, The market for vehicle control and environmental consideration is quite big. Big automobile giants like Tesla, Inc., Toyota, BMW, Hyundai, etc. are spending millions. According to an article in Financial Times, Hyundai Motor Group will be investing about $21.56bn in electric cars and autonomous vehicles in the next 5 years.
Include the following factors as well in your BUS3ENT assignment 3 answer –
- Market size
- Industry growth rate
- Challenges to the entry of new players
- Current trends in the industry
- Targeted customers and their location
- Who are your major competitors
4. Who is going to provide you with the product
You conducted the study and stuff and it is all good, impressive. But your BUS3ENT assignment 3 answers should talk about the relevant research. In this, you are going to discuss how are you going to develop the technology you are offering, how changes in technology may affect your business, how will you hold the product, etc.
For example, The technology will be my own and will be offered to the clients as a design of my own. The market at the moment is stable and research by _________________ in ________ shows that the opportunities are going to boom in the coming time which will affect my business positively. Sale of this technology will be on contract terms through a license.
BUS3ENT assignment 3 answers will also require you to talk about the human resources that you will require. Not only that, you have to propose the number of employees you will be needing down the road.
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