TASK:
You are tasked with identifying a business start-up that will be based in the United Kingdom and writing a business report exploring business expansion/growth options.
– Introduce your start-up business (Sport supplementation company in this case)
– Discuss the relationship between risk and uncertainty, evaluate the key difference of both linking these to the start-up business and how these affect the decision-making of the start-up business
– Evaluate the need for the business to use a data-driven decision-making culture.
– Using a range of valid data sources, create a Commercial Market Outlook (CMO) dashboard that outlines the industry/market that your business will operate in
– Using the data suggest THREE options for expansion/growth of the business
– Using a range of decision-making techniques and the data from the CMO and other sources, recommend and justify ONE option for the business to apply in the future
TASK GUIDANCE:
A brief induction to the business you will be starting.
When discussing the relationship between risk and uncertainty identify and evaluate the key differences of both linking these to the start-up business.
Not all companies have a data-driven decision-making culture, as a start-up there is scope to set the culture, so you are to evaluate the merits of this culture.
When creating your Commercial Market Outlook (CMO) dashboard you must include the sources of your data, the relevant data set is to your business and provide a clear visual in the appendix.
Each of the three viable options should be fully explained, and backed up with relevant data as to why they are viable option(s). These should be labelled option A, B and C
When making your recommendation this should be fully justified with data and appropriate decision-making techniques used. Ensure you consider the economic impact, scenario modelling, and opportunity costs.
Focus on attention to detail, quality of work, and overall academic standards.
Referencing – you need to ensure the accuracy, extent, currency, presentation, and quality of your references At least 30 references across different sources are expected. The currency and triangulation of references (cross-referencing information to add further justification of points) are critical.
