Assignment is required(mandatory) to based on Australia.

Objective The purpose of this Workplace Practical/Simulation Task is to of the task consider the major elements of a business idea, undertake research to determine viability of the business opportunity and present the idea. Resources include Learner Activity Workbook PowerPoint Slides/Handouts Workplace/Simulated Workplace Computer Internet Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities You will Part 1: Industry analysis (Approx. 1500 words) be required Part 2: Business ideas and opportunities (Approx. 1500 words) to complete Your task You are currently a fourth-year apprentice and will soon become a qualified carpenter. You intend on running your own micro business with the potential of contracting a crew of apprentices, depending on your workload. Before you can set out on your own venture, you will need to investigate opportunities for your micro business. Part 1: Industry analysis Using the template provided, conduct an analysis on the building and construction industry. As you conduct your research, keep a record of the sources you have used. You must use a combination of primary and secondary sources. Primary resources may include: Group interviews Market testing a segment of the market Interviews (face-to-face and telephone) Observation Questionnaires Samples Surveys Secondary resources may include: Chambers of commerce data Data held by research and industry specific organisations Polls published by advertising and media companies Published government statistics University databases Part 1 Complete the following: Industry analysis Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities Part 2: Business ideas and opportunities Based on your research, brainstorm business ideas and opportunities. Then select 2 business ideas from your list. For each business idea: Provide an overview of the business idea Identify the resources that will you need to implement the business idea Define your unique value proposition Part 2 Complete the following: Brainstorm a list of business ideas and opportunities Business idea 1 Business idea 2 Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities Assessment Instructions: 1. Answer to the questions in a new world document. 2. Keep simple formatting with 12pt Arial and single line spacing. 3. Upload file to the drop box provided with a name containing your student ID and unit code such as MACXXXXBSBSMB301_Practical_Task. Part 1: Industry analysis Industry analysis 1. Provide a description of your industry. What is the size of the industry? What is the expected growth rate? Political analysis 2. Identify any political and legal factors that may affect your business. Is your industry highly regulated or is it under the government radar? What impact does regulation have on the industry and success of your business? Economic analysis 3. What are some of the economic factors that may affect your business? For example, unemployment rates, exchange rates, availability of labour or resources. Social analysis 4. What are some of the social and cultural factors that may affect your business? For example, ageing society, education levels, residential trends. Technology analysis 5. What are some of the technological factors that may affect your business? For example, growth in e-commerce, internet access, emerging digital technologies. 6. What current and future trends are affecting the industry? 7. Consider new and emerging markets. 8. What are the barriers to entry for your industry? 9. What are the potential risks within the industry? Sources of information used List the sources of information used and also mention the type of source (Primary or secondary). You can use the following template. Information source Type of source (primary or secondary) Part 2: Business ideas and opportunities Based on your research, brainstorm business ideas and opportunities. Business idea 1 1. Provide an overview of your business idea. 2. What resources will you need to implement your business idea? 3. What is your unique value proposition? Consider the following questions: Which customers are you going to serve? Which needs are you going to meet? What relative price will provide acceptable value for customers and acceptable profitability for the company? Business idea 2 1. Provide an overview of your business idea. 2. What resources will you need to implement your business idea? 3. What is your unique value proposition? Consider the following questions: Which customers are you going to serve? Which needs are you going to meet? What relative price will provide acceptable value for customers and acceptable Objective The purpose of this Workplace Practical/Simulation Task is to of the task consider the major elements of a business idea, undertake research to determine viability of the business opportunity and present the idea. Resources include Learner Activity Workbook PowerPoint Slides/Handouts Workplace/Simulated Workplace Computer Internet Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities You will Part 1: Industry analysis (Approx. 1500 words) be required Part 2: Business ideas and opportunities (Approx. 1500 words) to complete Your task You are currently a fourth-year apprentice and will soon become a qualified carpenter. You intend on running your own micro business with the potential of contracting a crew of apprentices, depending on your workload. Before you can set out on your own venture, you will need to investigate opportunities for your micro business. Part 1: Industry analysis Using the template provided, conduct an analysis on the building and construction industry. As you conduct your research, keep a record of the sources you have used. You must use a combination of primary and secondary sources. Primary resources may include: Group interviews Market testing a segment of the market Interviews (face-to-face and telephone) Observation Questionnaires Samples Surveys Secondary resources may include: Chambers of commerce data Data held by research and industry specific organisations Polls published by advertising and media companies Published government statistics University databases Part 1 Complete the following: Industry analysis Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities Part 2: Business ideas and opportunities Based on your research, brainstorm business ideas and opportunities. Then select 2 business ideas from your list. For each business idea: Provide an overview of the business idea Identify the resources that will you need to implement the business idea Define your unique value proposition Part 2 Complete the following: Brainstorm a list of business ideas and opportunities Business idea 1 Business idea 2 Workplace Practical/Simulation Task 2.1 Observation - Investigate micro business opportunities Assessment Instructions: 1. Answer to the questions in a new world document. 2. Keep simple formatting with 12pt Arial and single line spacing. 3. Upload file to the drop box provided with a name containing your student ID and unit code such as MACXXXXBSBSMB301_Practical_Task. Part 1: Industry analysis Industry analysis 1. Provide a description of your industry. What is the size of the industry? What is the expected growth rate? Political analysis 2. Identify any political and legal factors that may affect your business. Is your industry highly regulated or is it under the government radar? What impact does regulation have on the industry and success of your business? Economic analysis 3. What are some of the economic factors that may affect your business? For example, unemployment rates, exchange rates, availability of labour or resources. Social analysis 4. What are some of the social and cultural factors that may affect your business? For example, ageing society, education levels, residential trends. Technology analysis 5. What are some of the technological factors that may affect your business? For example, growth in e-commerce, internet access, emerging digital technologies. 6. What current and future trends are affecting the industry? 7. Consider new and emerging markets. 8. What are the barriers to entry for your industry? 9. What are the potential risks within the industry? Sources of information used List the sources of information used and also mention the type of source (Primary or secondary). You can use the following template. Information source Type of source (primary or secondary) Part 2: Business ideas and opportunities Based on your research, brainstorm business ideas and opportunities. Business idea 1 1. Provide an overview of your business idea. 2. What resources will you need to implement your business idea? 3. What is your unique value proposition? Consider the following questions: Which customers are you going to serve? Which needs are you going to meet? What relative price will provide acceptable value for customers and acceptable profitability for the company? Business idea 2 1. Provide an overview of your business idea. 2. What resources will you need to implement your business idea? 3. What is your unique value proposition? Consider the following questions: Which customers are you going to serve? Which needs are you going to meet? What relative price will provide acceptable value for customers and acceptable