Starting and Managing a Business

Question 1

Your group is required to propose and analyze a Singapore-based business that seeks to serve the needs of employers and/or employees involved in remote working arrangements. For the purposes of this report, you and your group members will be the founders and actively involved in the management, of this business.

  • State the vision and mission statement for your business and provide an overview of the products and/or services to be offered; and
  • Explain and justify why your group proposed this particular business. In particular, your group should use the SWOT framework to examine the key opportunities and threats from the external environment in Singapore and the key strengths and weaknesses of your business. Support your analysis with research data, including relevant data projections.

Question 2

  • Given the unique challenges faced by a start-up, review the market feasibility of your business idea and construct an entrepreneurial marketing plan for your business in Singapore that aligns with its value proposition.

Taking into account the differences between conventional and entrepreneurial
marketing, the key elements of your analysis should include the following over a three-year period:

  1. Market Potential.
  2. Market Segmentation, Target Customer, and their Characteristics.
  3. Potential Market Share vis-à-vis competitors.
  4. Projected Sales
  5. Pricing Strategy.
  6. Potential Sales Price vis-à-vis your business’ annual cost structure.
  7. Promotional Activities through leveraging on the resources of stakeholders and relevant media, and the related quarterly budget set aside for these activities.
  8. Personnel to implement the proposed marketing plan.
  • Prepare a projected profit & loss (income) statement, balance sheet, and cash flow statement, on a quarterly basis, for your proposed business over the three-year period.

For the purposes of this GBA, you will have to submit the following documents via the relevant Canvas links:
(i) the Excel workbook; and
(ii) the GBA report

For the purposes of the profit & loss (income) statement, balance sheet, and cash flow statement, you can make the following assumptions:

  1. The initial three (3) months of operation is the gestation period of the new
    start-up related to, for example, staff recruitment, marketing, inventory (if any)
    and other business set-up matters. Revenues will be recorded from the fourth
    month onwards in the financial statements.
  2. An average credit term of 30 days from suppliers.
  3. The depreciation for capital investment (if any) is a straight line over three (3) years.

You can make other reasonable assumptions, such as cost of goods and/or services, minimum order quantities, inventory turnover days, account receivables days, rental, utilities, interest for loans, inventory storage costs, sales, and general administrative costs, salaries and insurance expenses, with supporting explanations and justifications.

  • Using the graphical method, apply the break-even analysis and identify the break-even point within the three-year period.