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New Venture Creation - Department of Education

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Use the template attached (Annexure A) to prepare a SWOT analysis of the business you Student completed a SWOT analysis for SME and competitor

    NATIONAL CERTIFICATE (VOCATIONAL)

    NQF LEVEL 4

     INTEGRATED SUMMATIVE ASSESSMENT TASK

    SUBJECT ISAT:

    NEW VENTURE CREATION

    2009 2011

    This document consists of 11 pages.

INSTRUCTIONS TO LECTURERS/ASSESSORS

    1. The ISAT task should be discussed with the students in advance to enable

    them to research the selected SME business opportunities.

    Students should be allowed two to three months for investigations and

    research.

    Evidence of visits and resources of information should be submitted. 2. As an assessor/lecturer, prior to the assessment, you need to do your own

    research on all the topics covered in this ISAT. This will enable you to

    properly assess the students and make informed decisions.

    3. Students are required to visit any SME business, research on the internet,

    visit libraries and use any other relevant materials.

    4. Set the date for presentation on or before the end of September. 5. Each student must hand in a written document to their assessor/lecturer. This

    must be filed in the student's portfolio of evidence.

    6. For the completion of the task the following resources will be needed.

     61 A well prepared simulated room.

     6.2 Pens, pencils and coloured pencils.

     6.3 Attached templates and SARS application form.

     6.4 Other relevant materials or resources for the task.

     6.5 Dictionaries.

    ASSESSMENT INSTRUMENT TO BE USED: Rubric or rating scale

INSTRUCTIONS TO THE STUDENTS:

    1. Read the instructions carefully. 2. Read the article below about cultivating good entrepreneurs for the economy. 3. Research the selected SME business opportunity by visiting SMEs, surfing

    the internet, visiting libraries and other institutions using relevant materials to

    gather more information about the enterprise.

    4. On the day set for the assessment, print a copy and hand it to the

    assessor/lecturer.

    5. For the completion of the task the following resources will be needed.

     5.1 A well prepared simulated room.

     2

     5.2 Pens, pencils and coloured pencils.

     5.3 Attached templates and SARS application form.

     5.4 Other relevant materials or resources for the task.

     5.5 Dictionaries.

     Read the article below and do what is required.

    The current economic situation has underlined the necessity for young people

    to think of a future in which they will be working for themselves.

    Chances of finding a traditional job with an employer are slim these days, so

    one needs to be entrepreneurial and to find some type of products or services

    that you can offer to the right market.

    There are those who say that an entrepreneurial spirit is not something that

    can be taught. There is truth in that, but it can't be denied that running a small

    to medium enterprise (SME) requires skills which can be learned.

    (The Star, 21 January 2009)

    REQUIRED:

    1. Research one of the following SMEs as a business opportunity:

    ? Manufacturing a product to sell to tourists visiting South Africa.

    ? Accommodation for tourists visiting South Africa.

    ? Take-away to sell to tourists visiting South Africa.

     3

    TASK 1

     1.1. Use the template attached (Annexure A) to prepare a SWOT

    analysis of the business you selected above.

     1.2 Prepare a SWOT analysis of one of the competitors (Annexure B).

     1.3 Identify risks associated with the business and provide examples.

     1.4 Use the information in Annexure C to calculate the start-up

    requirements and show all the calculations.

     1.5 Prepare a cost analysis of the intended product or service.

     1.6 Read an extract of the following legal documents and write down

    one question you would like to ask for clarification:

    a. Lease of either building, machinery, equipment or

    vehicle contracts

    b. Loan agreement contracts

    c. Employment contracts

    TASK 2

     2.1 Visit any financial institution offering funding and compare the cost

    of various funding options. Choose a financing option in line with

    the profit objectives and return on capital. Attach evidence of your

    visit to the institution e.g. bank stamp

     2.2 Identify the problems faced in obtaining finances.

     2.3 Visit the library and get a copy of Government Gazette (Republic of

    South Africa), Vol. 489 of 15 March 2006 No. 28619 or use the

    internet to obtain more information on the National Credit Act.

    From chapter 4 of this document, pages 30 45, identify FIVE

    consumer rights and explain why those rights are important.

     2.4 Investigate and describe other relevant legislation applicable to a

    SME and indicate how it will influence your business.

     2.5 You would like to start a business in your area and according to the

    law you need to register your business first.

    Complete the attached SARS form.

     2.6 Draw up a marketing plan/strategy for your intended business

    applying basic marketing principles

     4

     2.7 Draw up a code of ethics for your business based on the

    Constitution and relevant legislation

     2.8 Submit a set of written/typed documents (including all required

    Annexures, cost calculations and plans requested) to present your

    intended business on the due date as arranged with the lecturer.

     5

    ANNEXURE A

    SWOT ANALYSIS OF YOUR SELECTED SME

STRENGTHS WEAKNESSES

    1. ------------------------------------------------------- 1. --------------------------------------------------------

    2. ------------------------------------------------------- 2. --------------------------------------------------------

    3. ------------------------------------------------------- 3. -------------------------------------------------------

    4. ------------------------------------------------------ 4. -------------------------------------------------------

    5. ------------------------------------------------------ 5. -------------------------------------------------------

OPPORTUNITIES THREATS

    1. ---------------------------------------------------- 1. -----------------------------------------------------

    2. ---------------------------------------------------- 2. -----------------------------------------------------

    3. ---------------------------------------------------- 3. ------------------------------------------------------

    4. ---------------------------------------------------- 4. ------------------------------------------------------

    5. ---------------------------------------------------- 5. ------------------------------------------------------

     6

    ANNEXURE B

    SWOT ANALYSIS OF ONE OF THE COMPETITORS

STRENGTHS WEAKNESSES

    1. ------------------------------------------------------- 1. --------------------------------------------------------

    2. ------------------------------------------------------- 2. --------------------------------------------------------

    3. ------------------------------------------------------- 3. -------------------------------------------------------

    4. ------------------------------------------------------ 4. -------------------------------------------------------

    5. ------------------------------------------------------ 5. -------------------------------------------------------

OPPORTUNITIES THREATS

    1. ---------------------------------------------------- 1. -----------------------------------------------------

    2. ---------------------------------------------------- 2. -----------------------------------------------------

    3. ---------------------------------------------------- 3. ------------------------------------------------------

    4. ---------------------------------------------------- 4. ------------------------------------------------------

    5. ---------------------------------------------------- 5. ------------------------------------------------------

     7

ANNEXURE C

    START- UP COSTS

THE TYPE OF THE SME’S CHOSEN:

    COSTS

    1. PRE-OPERATING COSTS

    TOTAL 2. FIXED ASSETS REQUIRED

    TOTAL 3. OPERATING COSTS/EXPENSES

    TOTAL

    GRAND TOTAL

     8

    RUBRICS FOR LECTURERS TO ASSESS STUDENTS’ WORK

     5 4 3 2 1

    Evaluation criteria Outstanding Highly Competent Not Yet Not Achieved

    (5 marks) competent (3 marks) Competent (1 mark)

     (4 marks) (2 marks)

    Task 1

    1. FINANCING OPTIONS Student included enough and relevant information about

    financing options

2. PROBLEMS IN OBTAINING FINANCE Student gathered relevant information regarding financing

    problems

    3. GOVERNMENT GAZETTE ON NEW NATIONAL CREDIT ACT

    Student recorded all relevant information

    4. SARS DOCUMENT COMPLETED Student completed all relevant information

    5. TASK COMPLETED ON TIME Student submitted all work on time

RUBRICS FOR LECTURERS TO ASSESS STUDENTS’ WORK

     5 4 3 2 1

    Evaluation criteria Outstanding Highly Competent Not Yet Not Achieved

     competent Competent

    (5 marks) (4 marks) (3 marks) (2 marks) (1 mark)

Task 2

    SWOT ANALYSIS 1.

    Student completed a SWOT analysis for SME and competitor

2. RISKS IDENTIFIED WITH EXAMPLES Student identified risks and used relevant and appropriate

    examples

    3. START-UP REQUIRMENTS & CALCULATIONS

    Student clearly and accurately included related start-up costs

    according to the type of the SME chosen with correct calculations

    4. COSTING OF INTENDED PRODUCT/ SERVICE

    Student used appropriate costing methods for products and

    services

    5. LEGAL DOCUMENTS

    Student identified and extracted the required legal documents

6. MARKETING PLAN Student has drawn up an innovative marketing plan

7. CODE OF ETHICS Student compiled an appropriate code of ethics for the business

     10

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