Task 1 – Statement of Intent
Your Statement of Intent (SOI) must provide an outline brief of your business plan. Prepare your SOI carefully, referring to the guidance in each section below. The guidance should be seen as a prompt and not be regarded as being prescriptive.
The SOI must be a minimum of 800 (excluding the APPENDIX). Each section, One to Four, has a guide to the minimum number of words to best structure your statement to meet the grading criteria for the Confirmatory Stage. You are reminded that the bibliography and timescale should be included in the APPENDIX and will not be included in the overall word count.
Section 1 – Your Final Major Project (150 words)
What is the main idea of your Final Project? What will you work towards producing and what is your proposed end point? Introduce your business idea. Briefly describe the product/service and its unique selling proposition. Explain how this business relates to your current studies and professional and personal experiences and ideas and how it extends your knowledge and understanding.
Section 2 – Influences, Research, Sources and Ideas (guide 350 words)
This section shows the results of your preliminary research of the business idea. What are the influences, starting points and contextual references and why are they relevant to your ideas? Indicate the subject areas you intend to research and the likely sources of information. For example, what have influenced you to pursue the chosen business idea? What is important to know when starting a business? What are the keys to success in this industry and how can you benefit from them? What are the causes of failure and how to prevent them?
Section 3 – Techniques, Processes and Timescale (150 words)
Refer to any techniques and processes you intend to use. Describe the range of media and materials relevant to your project and how you may use them to explore and develop your ideas. Include the use of particular equipment and software etc. Provide an indicative timescale for your project and indicate the manner in which you intend to divide your time in order to investigate, develop, produce and evaluate your project appropriately. This should be a meaningful plan to you and should be personalised to your project. You may wish to write your plan as a daily or weekly schedule in which case enter your timescale in the APPENDIX.
Section 4 – Method of Evaluation (150 words)
How will you critically review and analyse your business plan and determine if it is successful? How will you identify directions for ongoing business development? Do you have a method to record the critical response to your ideas? How do you propose to assess the success of your business plan and what will be your methods of evaluation?
APPENDIX
Use this appendix for the bibliography and timescale for your Final Major Project.
ScholarMatic: Explanation & Answer
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