Business Plan Report: London Student Association (LSA) - CW3

This report presents a comprehensive business plan for the London Student Association (LSA), a student-led initiative designed to combat loneliness among students in London. The plan begins with a reflective analysis of the student's learning journey, detailing insights gained from lectures on entrepreneurship, innovation, market research, and competitive advantage. The core of the report focuses on the LSA's mission, which is to provide a community-focused platform for students through various services, including common rooms, competitions, club collaborations, and sports activities. It includes a detailed market analysis, highlighting the prevalence of loneliness among students, supported by statistical data and survey results. The plan outlines marketing strategies, resource allocation, risk assessments, and financial projections to ensure the LSA's sustainability and success. The report concludes with a summary of the LSA's objectives and potential impact, alongside references and appendices that support the feasibility study.

Running head: BUSINESS PLAN
BUSINESS PLAN
Name of the Student
Name of the University
Author Note

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Table of Contents
Part 1..........................................................................................................................................2
Reflective writing.......................................................................................................................2
Part 2..........................................................................................................................................4
Introduction............................................................................................................................4
Business idea..........................................................................................................................4
Market condition....................................................................................................................7
Marketing strategy.................................................................................................................9
Competition............................................................................................................................9
Process of serving the students..............................................................................................9
Resources.............................................................................................................................11
Risk assessment....................................................................................................................11
Finance.................................................................................................................................11
Conclusion................................................................................................................................12
References................................................................................................................................13
Appendices...............................................................................................................................15

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Part 1
Reflective writing
In lesson 1, I have learned about the techniques of creating a new business the first
objective of the lecture is to provide a general introduction to the team so that I can make
myself more engaged with the others and then we discussed about the components of the
module and what is my expectation about the module. In this lecture I have learned about the
various process related to setting of a small business and evaluate my interest on
entrepreneurship. I have been taught that there are three ways of learning one is team
learning, another is by participating in real projects and another is theory based. In the theory
based learning I have learned about the various theories of entrepreneurship that help me to
learn the skills of managing a small business this will help me to enhance my skills of
maintaining discipline which is essential for doing a degree course. In this lecture I have
learned that enterprise is related only with wealth maximisation and creation of job.
In lecture 2, I have learned about creativity and innovation. In this lecture I have
learned that to make a business successful it is essential to have an innovative and creative
idea which will make the business distinct from the competitors. I have learned how creative
ideas can be made and how to improve the creative skills that an individual possess. I have
also learned the key points that are essential for business innovation which are creative
thinking skills, motivation, and expertise.
Lecture 3, is about assessing the ideas and making business model canvas. In this
lecture I have learned about the process of assessing the problems how to solve these
problems and how to construct a business model. I learned about the ideas about SWOT,
PESTLE and various business models. The characteristics of a successful business models
are explained by providing the examples of various organisations like Airbnb, Easyjet and

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many others are given from which I have learned how to construct a successful business
model.
In lecture 4, I have learned about various methods of marketing research
entrepreneurs and small business owners. I have learned the techniques of market research
and how to implement such market research in collecting data from the market to analyse the
market condition to take decisions for the improvement of the business. I have learned about
the various process of data collection and how to use such data.
In lecture 5, I have learned about the concept of competitive advantage and
competition, I have learned the various types of competitors how competition prevails in the
macro environment and how to gain competitive advantages over the other industry rivalries.
In week 7, I have learned about the fundamentals of marketing, value and distribution.
From this lecture I have learned about the basic concepts of marketing and how to use various
distribution process to make a business successful. Creating of value for the business is an
essential factor the process of value creation has also been taught in this lecture.
In lecture 8, I have gained knowledge on managing the human resource and the
planning of operations. I have learned about the marketing strategy operation plan and risk
analysis. The process of preparing a financial plan has been explained in details in this
lecture.

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Part 2
Introduction
In, London student community gets high appreciation from the students of the
University of West Minister. The students of the university is very dedicated to commit
themselves for performing any duty that is associated with the community of the students.
For the improvement of the community in London the students show their commitment and
are ready to do anything that will be helpful for the community. From the research it has been
obser4ved that loneliness occurs between students due to the lack of intention among the
students to create a community. The students framed several strategies that are useful to form
a student community which is essential to solve the problem of student loneliness. It has been
observed that the loneliness is causing adverse effect on the mental health of the students and
also bring depression among them. The students’ community will play a vital role in
eradicating the problem of loneliness among the students and it will help them to develop
their mental condition.
Business idea
Pain
In London millions of students come every year from different parts of the world to
pursue their education. In addition to the foreign students there are students from different
regions of United Kingdom who have different social cultural background. The rapid growth

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of urbanisation and the effect of globalisation has become a part of the life style in London.
This globalisation has affected negatively on the social structure of the community. In the
current situation the students cannot interact with each other due to their socio cultural
differences and that create obsession among them that leads to loneliness, which become a
major reason of pain that the students feel and become a mental patient. the major
characteristic of the population of London is that there is lack of emotion among the people
of London and that make a significant gap of communication between the students of
different countries and the local students which creates loneliness, the students always feel
that they are treated differently and fail to make relation with others and therefore they does
not enjoy their studies properly and feel lonely. The lack of motivation and encouragement to
communicate and make contact with new persons has created a severe problem of loneliness
among the students (Shukla and Joshi 2017).
Product service details
A student organisation which is created to solve the problem of loneliness among
students is not a student union. The proposals created by the LSA that it will run by the
members of the students union. The LSA will create a student board which will contain
representative of every student union and there will be two advisors who will give necessary
advice to the representatives. The concept of the LSA is unique as there is no specific
community created for solving the problem of loneliness of the students in the entire London
(Costa et al 2019).
Every student union will select a representative who does not have a specific role in
the student union, the advisors will help the representative on their daily tasks.
The LSA will continuously try to find out the problem of the students who feel lonely
and does not want to interact with the other students. The LSA will provide the following

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facilities and services to the students, a common room where the students will make a get
together with each other and will get the opportunity to interact and communicate with each
other, organising various competitions from which the students will be able to make active
participation in some kind of activities and will be able to work and perform as a team, this
will also help them to learn how to deal with people of different nature and characteristics
(Pijpers 2017).
Clubs and societies
The LSA will make collaboration with various clubs and societies which will give the
students to enjoy their idle time with others and not to sit alone in their home or hostels.
Various programmes will be organised in these clubs and societies in which the students can
take active participation which will give them encouragement to become more proactive in
building new relation with new students and also with new people. This will also help them
to expand their network as many kind of people will visit the clubs and societies (O'Day et al
2019).
Sports
Sports play an important role in building a healthy relationship with others, a sport
activity is the best mode to increase the communication skill of an individual as it is essential
to make interaction with all the other team members and also with the opponents. The LSA
will arrange various sports events so that the loneliness among the students can be eradicated.
Media
The social media plays an important role in creating new relationship among people
and that can be used as an effective medium to connect the students of various countries and
communities. In the modern days the social media has become the main platform through
which it can be possible to create a huge network of communication and the LSA by utilising

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the social media will try to solve the problem of loneliness among the students (Dikeç et al
2017).
The organisation is a non-profit seeking entity but to continue its operations it will
need some funds which are generated from the various organisations who wants to donate or
give sponsorship to LSA. University grants are also a main source of fund. In addition to that
the LSA collects a nominal membership fees from the students for meeting the expenses of
the clubs and societies (Vasileiou, et al 2019).
Market condition
From a statistical research various information’s regarding the problem of the
loneliness among the students are provided which will help to assess the main reason for the
increasing demand of having an organisation that can help the students to get recovery from
this kind of mental problems (Maes et al 2017).
It has been observed that almost 9.80% of the young population within the age group
of 16 to 24 claimed that they often feel lonely. The most number of young people who always
feel that they are not associated with the society and remain separated belongs to the age
group of 18 to 21. Through various primary research it has been observed that more than 15%
of the students stated that that every day they felt lonely while some other students said that
they feel lonely only on weekdays. The disabled students suffered the most of this mental
trauma, similar condition is happened with the black and minority students. The rate of
loneliness is also high for the students who pursue their education from their home (Suri Garg
and Tholia 2019).
To ascertain the actual figures a questionnaire has been formed in which the details
are given in a tabular form

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All UK EU NON EU
I have a large
group of friends
in the uivarsity
21.40 24.60 21.00 11.30
I have a few
number of
friends in the
college
61.90 60.30 58.30 69.50
I do not have
any friends as
the university
16.60 15.10 20.70 19.20
From this table it can be said that the students does not have enough friends in their
university with whom they can spend time and for that reason the issue of loneliness has
increased significantly over the years . The LSA wants to capture this huge number of
students and will try to understand their problem of getting isolated from the society. This
increasing rate of loneliness creates an opportunity to the LSA to reach to as many students as
possible, who are suffering with the problem of loneliness and help them to overcome this
mental challenge (Hysing et al 2020).
To determine what make the students more concern on day to day basis at the
university another survey is made from which it has been observed that in universities the
students are more conscious about people issues which forced them to keep themselves away
from the other students and gradually they felt lonely (Wang et al 2018).

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The main target group of the LSA is the students who are between the age group of 16
to 21 and are studying in different universities of London. With the number of depressed
students still increasing day by day LSA will get the opportunity to serve more students and
this unique organisation will turned out to be a most desired one in the London (Zhao et al
2019).
Marketing strategy
The organisation will take an aggressive strategy to make the students more aware
about the organisation and can contact the organisation whenever they felt depressed. To
reach to more students the association will hand out flyers, produce stickers that will contain
the logo of the association and also use various social media platforms that will help to reach
more students who are staying away from the university (Zach Yazdi-Ugav and Zeev 2016).
Partnership
The company has made major partnership deals with various clubs and societies in all
over London. Beside that the association make tie up with several other universities so that
more students can get their facilities (Stanimirović et al 2017).
Competition
There are no other associations in London that provide this kind of support to the
students so the threat from the competitors is not there for the LSA. It creates a monopoly in
this service. This make it more demanding among the students and the organisation is doing
its best to serve the students (Slagter and Pyper 2019).

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Process of serving the students
The process of serving the students are classified in to four phases these are elaborated in
details
Phase 1
This phase deals with process of forming the association which will dedicatedly serve
the students at anytime and anywhere. In joint collaboration of the students union of
university of Westminster the LSA formed their unit in small space provided by the
university at their campus. After that the association applied for grant from which they can
purchase different equipment to make the common room attractive for the students (Pandeya
2017).
Phase 2
In this stage the LSA will make collaboration with the students union of other
universities, this will help the association in their attempt to reach as many students as
possible and to create a common room in all the campuses of the other universities (Käll et al
2019).
Phase 3
In the third phase the aim of the association is to make regular visit the common
rooms of different universities and a common social media platform is created which will
help to bring in more students under the association and all the student’s feedback can be
easily gathered from that platform. In addition to that in this phase the association will also
arrange programmes in clubs and societies with which the association has made partnership
for organising various amusement programs for the students of various universities and will
try to make a strong bond among all of them so that no one felt that they are different and

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isolate themselves from the other students. This programmes will help in creating a strong
relationship among the students which will help them to fight against loneliness (Faisal and
Turnip 2019).
Phase 4
In the ultimate phase the association will organise various sports events in different
big places all over London and this will attract more people and make them aware about the
problem of student loneliness. the students will also get motivation by participating in these
events and this is the most effective step of the LSA to solve the problem of loneliness among
the students as sports will create unity among them and will also encourage them to make
friends easily without the feeling of getting separated due to social cultural and economic
differences , as sports can eliminate all the barriers among the students and help them to
create a long term relationship with the other team members as well as with opponents
(Moeller and Seehuus 2019).
Resources
The team of the LSA have some experienced members who are very proactive as well
as efficient to manage the problems of the students. As most of the members of the
association are student, so it become easy for them to understand the pain of the other
students and that make the association more effective for the students who are suffering from
the pain of loneliness (Garcia Diaz et al 2019).
Tangible resources
The association has several common rooms in various campus of different universities
which are their main tangible resources.

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Risk assessment
The main risk that is associated with the organisation is to raise fund because as it is
non-profit seeking organisation it will require fund to operate its activities. So the generating
of funds various corporate houses and from universities is the major challenge for the
association.
Finance
From the analysis of the cash flow it has been observed that being a non-profit
seeking organisation the LSA does not have huge capital base and the cash inflow from the
operating activities is not impressive. As earning revenue is not the main motive of the
organisation so a low revenue margin is quite natural for the association. It is estimated that
the association will get tax exemption and the association pay salary to its staffs as per the
national rate (Chang et al 2017).
Conclusion
The objective of the association is to take essential steps to eliminate the pain of
loneliness and to make the students mentally fit so that they can give their full attention in
studies and can make a successful career. The feasibility of the project is highly acceptable as
it provide simple value proposition towards the wellbeing of the students.

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References
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Appendices
Team combination
We have students from various specialisations like some members are specialised in
understanding human behaviour, some are expert in management while some of them are
expert in financial management. Thus the association is supported by a team of qualified and
experienced leaders who can provide the correct guidance in eliminating the problem of
loneliness.

21BUSINESS PLAN