Marking Scheme BUS0005NFBNM The Structure of Business [231]

Marking Scheme
BUS0005NFBNM
The Structure of Business [231]
Assessment Task Learning outcomes Marking guidance for task
This assignment is worth 100% of the total
marks for the module.
Apply for a start-up loan for your business
The UK government has mounted one of the
most aggressive economic responses to the
COVID-19 pandemic, pledging billions of pounds
to support businesses and Start-Ups through the
crisis. The UK government has pledged the
equivalent of 8.5% of GDP towards fighting the
crisis. Much of the spending is going towards
supporting businesses.
In light of the above, a government-backed Start
Up loan of £500 to £25,000 to start or grow
businesses was introduced. Unlike a business
loan, this is an unsecured personal loan. You are
considering a career as an entrepreneur and you
are aware of the current opportunities, hence
your decision to start your own business.
To help you develop your ideas further to create
a viable business start-up, address the following
questions:
After completing the module you should be
able to:
1. Identify the differences between the
various business sectors that contribute
to the economy.
2. Identify strengths and weaknesses of
various legal frameworks in relation to
business start-ups.
3. Identify and evaluate strengths and
weaknesses of various finance
generating alternatives a new business
may look to.
4. Identify and explain the importance of key
‘Humans Resource’ policies within a
given organisation.
Learners are to focus on:
The key requirement assessment is to be
innovative and draw inspiration from the case
study provided to develop an understanding
of the different types of business
organisations in various industries and
sectors.
Students also need to consider issues
concerning business start-ups and finance
generation suitable for the chosen business
model.
Question 1:
In the first part of this question, you are to identify
the relative strengths and weakness of the
various legal statuses or frameworks a business
start-up may consider (eg. Sole trader, Ltd,
Charities). You are expected to show the above
information in a table format.
In the second part, you will also be required to
show how an individual might seek financing for
such a business start-up. You are also expected
to explore THREE sources of finance available for
Apply for a Start
-Up Loan for your business
Available at: https://www.gov.uk/apply
-start
-up
–
loan
Question One:
a) Construct a table to show the various
legal statuses of businesses (such as
PLC, LTD, Registered Charity etc) that
your business may adopt. Identify the
relative strengths and weaknesses of
these legal statuses.
b) Considering your business idea, identify
and evaluate the strengths and
weaknesses of THREE sources of
finance available to your business start
–
up.
(1500 words)
(50 marks)
(LO 2 and LO3)
Question Two:
Identify three sectors within the UK economy in
which a business can operate. What are the
differences between the three sectors?
Comment on their value to the UK economy.
(750 words)
(25 marks)
(LO1)
Question Three:
Identify at least two HR policies and comment on
their importance to the modern workplace (for
business start
-ups. Then you should then
evaluate the strengths and weaknesses of the
three sources.
Question Two
:
You are expected to identify at least three sectors
within the UK (Primary
,
Secondary and
Tertiary)
and then comment on their value to the UK
economy. It is better if you show examples of
organisations in each sector.
Question Three:
You will be required to identify at least two HR
policies and comment on their importance to the
modern workplace (for example Health & Safety
policies
, Equality and Diversity policies etc).
example Health & Safety policies and equality
and Diversity policies).
(750 words)
(25marks)
(LO 4)
In addressing the three questions, you may add
any other concepts which you have learnt in this
module eg. Opportunity cost, scarcity, supply
and demand etc…
Referencing should be consistent with AU Harvard referencing style