BSBESB302 Develop and present business proposals

Short Answer Questions

Preliminary Task

Questions 3, 4, 5 and 6 of these Short Answer Questions require you to refer to the industry you plan to enter and your business idea.

Industry refers to the group of businesses that produce a particular kind of goods or services. These include the following:

o Food services

o Construction

o Community services

Business ideas must be specific to your chosen industry. For example, business ideas under the hospitality industry can include:

o Catering services

o Restaurant

o Takeaway and food delivery services

For your assessor's reference, identify the information required in the spaces below.

When answering Questions 3, 4, 5 and 6, you must refer to the information you provided below.

Question 1

Explain how the factors listed below affect the financial viability of business ventures.

1. General economic trends

2. Financial returns

3. Cost of operations

Question 2
Complete the table below by identifying the following: At least one example of emerging business technology Emerging business technology refers to technology used in business operations that is currently gaining popularity and is expected to create significant social or economic effects among businesses. At least one example of changing business technology Changing business technology refers to current improvements in existing technology in among businesses that results in increased production efficiency. Impact that each technology has on the viability of business ideas.
	Example of Each Type of Technology	Impact on Viability of Business Ideas
Emerging business technology
Changing business technology

Question 3
Complete the table below: Identify at least two personal circumstances that can influence the viability of your business idea Personal circumstances refer to personal situations or events that may affect the capability of your business idea to survive. Briefly explain how each circumstance influences the viability of your business idea.
Personal Circumstances That Can Influence the Viability of Your Business Idea	How It Influences the Viability of Your Business Idea
2.

Question 4
Complete the table below: Identify at least three personal skills that you can use for your business idea. Personal skills refer to knowledge and abilities you have that would be helpful in the survival your business idea. Briefly explain the suitability of each personal skill for your business idea. Suitability refers to how you can use your skills help your business idea to survive.
Personal Skills Needed for Your Business Idea	Suitability of Each Personal Skill for Your Business Idea
2.
3.

Question 5

Complete the table below:

• List at least three business risks that can affect the viability of your business idea, according to their level of severity. List the risk with the highest severity first and the risk with the lowest severity last.

Business risks refer to future events or situations that threaten your business idea's financial goals.

Level of severity should be according to the degree of the impact of the risk if left unmanaged, with the risk that has the most severe impact being the first response.

• Explain the reason for assigning each risk in such severity level.

Business Risks According to Severity Level	Explanation for Assigning the Risk in Such Severity Level
2.
3.

Question 6

Explain how the availability of each resource below will influence the viability of your business idea.

1. Financial resources

1. Human resources

1. Physical resources

Question 7

Answer the following questions about formats and methods of business presentations.

1. Identify at least two formats for presenting business proposals.

Formats refer to how the business proposal will be delivered to the audience.

1. Identify at least two methods of presenting business proposals.

Methods refer to the channel through which a business proposal will be presented.

Question 8

Briefly define each principle of risk assessment related to business opportunities listed below.

1. Compliance risk

1. Strategic risk

1. Cultural risk

1. Financial risk