In summary, there are two parts to Assessment 3. The first requires the group to prepare a 1500-word business report that compares then selects which business idea to present from Assessment 2. The second involves everyone in the team pitching the idea to secure development capital. Each of these is detailed below:
Idea Selection (15%)
The structure of 1500-word business report should be set out as follows:
1. Idea Evaluation (Develop an evaluation framework to compare the ideas developed individually in Assessment 2)
2. Idea Selection (Describe and justify how the best idea was selected)
3. Improvements (Identify any gaps that need to be addressed before the idea is pitched to an investor)
4. Revised Business Model (Amend the business model canvas to incorporate the above revisions)
5. Cash flow projections (Prepare ‘best case’ and ‘worst case’ cash flow projections for the first two years. Remember to state your assumptions about the key drivers of cash flow in each scenario)
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