BUS357: Starting and Managing a Business

Module / Subject / School:

BUS357: Starting and Managing a Business

Singapore University of Social Sciences (SUSS)

Requirements: 

Question 1

You and a team of likeminded friends are going to graduate from SUSS soon. All of you are eager to start a new business together, having gain invaluable knowledge from various SUSS business-related courses.

The idea is to setup a new social enterprise, “The Green Code” (TGC), focusing on recycling organic materials and waste, such as food scraps or expired food ingredients from households. After brainstorming amongst yourselves and conducting a brief research of the market, it was agreed that the social enterprise would be based on community composting. With a greater public awareness and government’s call towards environmental sustainability, your team thinks that it is a good opportunity to get started.

According to the National Parks Board website, “Composting is a process in which organic material is broken down by bacteria and other microorganisms via decomposition. The resulting material is called compost, which can be used for gardening. Compost is a valuable soil additive for any garden, big or small. Mixing compost into your soil can improve drainage, increase organic matter and help your plants grow better.” (Source: https://www.nparks.gov.sg/gardening/gardening-resources/caring-for-plants/composting)

The business model of your social enterprise will be to setup community compost bins at designated locations in HDB flats to allow residents to deposit the various organic or food waste into the compost bins. At the compost bin, the participating resident will scan a QR code, which then launches the TGC mobile app to identify the person. After validating the identity of the resident, the bin will automatically open to deposit their waste. Residents will be paid in

“Green$”, a point system which the resident can accumulate to exchange for shopping vouchers.

Every day, your company will have a staff on roster to inspect the bins and to replace the bins as necessary for the organic decomposition to take place. The resultant compost will be removed from the bins and sold as fertilisers to the horticultural market.

Two of your friends are trained in IT, and they would design and develop the first version of the website and mobile app. You and another marketing student would be looking into the commercial aspects of the business.

Each of you can commit up to $15,000 to the social enterprise, but without business track record and experience, obtaining bank loans and equity financing to fund your business would be extremely difficult and out of the question during the start-up phase.

Now, your team decides to appraise and validate and test the business idea using a Validation Board before embarking on the new venture, to be certain that this business idea is viable before further committing time and money into it.

What we score:

78%

Our Writer’s Comment 

This assignment is designed to assess students’ understanding of business practices.

To secure an A+ grade, adhere to these guidelines and make sure your work aligns with the grading criteria:

1. Understanding the Assignment

The key to this assignment is thoroughly understanding the business concept and the process of using a Validation Board to assess it. Since “The Green Code” (TGC) is a social enterprise focused on recycling organic materials, your goal is to demonstrate how well you can apply your knowledge to validate this idea. Make sure you’re clear on every aspect of the business model before you start answering the question.

2. Strengthen Your Analysis

In your initial attempt, you might have presented the idea well, but to score higher, your analysis needs to go deeper. When using the Validation Board, think critically about each step. What are the key assumptions about customer behavior? How will you test these assumptions? What metrics will you use to measure success or failure? The more detailed and realistic your validation plan, the stronger your answer will be.

3. Be Clear on the Business Model

While the idea of community composting is clear, you need to break down the business model in detail. Explain how the revenue will be generated from selling compost, how the Green$ system will incentivize users, and how you’ll manage costs. Make sure you cover all aspects, including the operational logistics of maintaining the bins and the IT infrastructure needed to support the app.

4. Address the Challenges Head-On

One way to show a thorough understanding is to acknowledge potential challenges and how you plan to overcome them. For example, consider what could go wrong with the QR code system or what might happen if residents aren’t motivated enough by the Green$ incentive. Offering solutions to these potential problems demonstrates foresight and strengthens your business proposal.

5. Leverage Your Team’s Strengths

Highlight how your team’s diverse skill set is a strong asset. You’ve got IT expertise to develop the app, and marketing knowledge to promote the business. Discuss how each team member will contribute and how you’ll work together to mitigate the lack of business track record. Showing a clear plan for collaboration and leveraging each person’s strengths can set your answer apart.

6. Present a Realistic Financial Plan

Given that you can only commit a limited amount of capital, make sure your financial plan is realistic. How will you stretch that $15,000 investment? What are the most critical initial expenses, and how will you manage cash flow? Detailing a conservative and well-thought-out financial plan will demonstrate that you’ve considered the financial viability of the enterprise seriously.

7. Make Your Presentation Count

When you put together your final report, presentation matters. Ensure that your ideas are communicated clearly, with a logical flow from the identification of the business idea to the validation process. Good structure, clear headings, and polished language all contribute to a professional submission.

8. Reflect on the Feedback

Consider any feedback you received on your 78% score. Were there areas where the lecturer suggested improvement? Maybe your assumptions weren’t fully explained, or the validation process was a bit superficial. Address these points directly in your next assignment.

9. Tie Everything Back to Sustainability

Since this is a social enterprise with an environmental focus, make sure that sustainability is at the core of your business proposal. Discuss not only how TGC will contribute to environmental goals but also how sustainability will be maintained throughout the business operations. This will align your project closely with the course’s objectives.

By focusing on these areas, you’re not just completing the assignment—you’re showing that you can think critically and strategically about starting and managing a business. Aim to refine your approach, deepen your analysis, and present your ideas clearly and confidently. Good luck, you’ve got this!

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