F- Business Viability

INSTRUCTIONS TO STUDENTS
(a) Complete this task to show your understanding on the following topics:
❖ Business location decision
❖ Business opportunity and related factors
❖ Business plans
(b) You are required to do the following:
❖ Design a consent form
❖ Develop an interview schedule or a questionnaire
❖ Conduct an interview or use a questionnaire to gather information
❖ Develop a SWOT analysis and
❖ Develop a Business Plan
❖ Write a project report
(c) Attach the following to your project:
❖ Research instruments
❖ Consent forms
❖ SWOT analysis
❖ Business Plan
(d) Adhere to the timeframe as indicated by your Lecturer
STEP ONE (Rubric criteria 1)
1. Identification of the product / service that you would like to sell.
Visit at least two local businesses in your area and observe the following
aspects:
1.1 Customers’ buying behaviour, e.g., what are the goods and services
they frequently purchase?
1.2 Identify a product or service that is in demand and is not currently offered
by these businesses in the area, you choose.
1.3 Identify the type of customers that are more likely to purchase the identified
product or service
STEP TWO (Rubric criteria 2)
2 Design a consent form (ANNEXURE 1) for the participants (Refer to example).
The consent form should
include the following aspects:
2.1 An introduction about yourself.
2.2The purpose of the interview
2.3 An assurance that the participant name will not be mentioned.
2.4 Inform the participants that participation in the study is voluntary.
2.5 Mention that their responses will be kept confidential.
STEP THREE (Rubric criteria 3)
3. Develop a research instrument (ANNEXURE 2) (Refer to example) to find out if
your target market will be interested in buying a product or service you have
identified.
3.1 The research instrument can either be a questionnaire or an interview
schedule and must be based on the following aspects:
(a) Clients’ satisfaction levels with products or services that are currently
being offered.
(b) Demographics of the community, e.g. age group/gender/income/education/
Specific preferences, etc.
(c) Identify a product / service for which the new product / service will be a
substitute
(d) Geographical position of a potential new business
(e) Are there any competitors for your product or service?
3.2 Conduct a research or an investigation using your research
instrument
STEP THREE (Rubric criteria 4)
4. Compile a SWOT analysis (ANNEXURE 3) based on your findings from
conducting interviews / information obtained from the questionnaires. Your SWOT
analysis should include the following aspects of the business you chose:
4.1 Strengths of your business
4.2 Weaknesses of your business
4.3 Opportunities of your business
4.4 Threats to your business posed by competitors and the business
environment
STEP FIVE (Rubric Criteria 5, 6, 7 and 8)
5. Develop a business plan (ANNEXURE 4) based on the following areas:
Section A: Location (Rubric Criteria 5)
5.1 Business location decisions with Motivation (the reasons for the choice of
the business location)
Section B: Forms of ownership and legal requirements (Rubric Criteria 6)
5.2 The chosen form of ownership, with motivation
5.3 Legal requirements, e.g. will your business need any license or permit?
Section C: Marketing and financial aspects (Rubric Criteria 7)

5.4 How will you market / promote your business (marketing plan include the 4 Ps)
5.5 Financing of the business (how the capital can be raised)
Section D: Viability of the business (Rubric Criteria 8)
5.6 Continuity and competitive rivalry
5.7 Good governance / management
5.8 Demand for the product / service chosen
5.9 Affordability of the product for the customers
STEP SIX Referencing used in your research (Rubric Criteria 9 and 10)
6.1 Listing of references done at the end of the project
6.2 Referencing used throughout the project

6.3 Correct quoting from referencing
6.4 Relevance of content from references
6.5 Acknowledgement of all internet references
TOTAL: 100