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3.10 Develop Your Business Idea
| Title: | Develop Your Business Idea |
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| QCA code: | Y/500/4591 |
| Level: | Three |
| Credit Value: | One |
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Learning Outcomes The learner will: |
Assessment criteria The learner can: |
| 1.1 Evaluate the strengths, weaknesses, opportunities and threats of your business idea 1.2 Explain what it is about your business idea (e.g. uniqueness, difference or new approach) which makes it likely to succeed when compared with other similar businesses 1.3 Describe how the product or service might be presented and explain how the presentation will help secure business success |
| 2.1 Review the potential for your business idea in the market, for example, possible market size, market segments etc 2.2 Undertake a provisional assessment of the impact of existing competitors on your business idea 2.3 Analyse how market and business trends might influence the success of your business idea |
| Additional information about the unit | |
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Unit aim(s) |
To support the development of skills needed to evaluate and review the market potential of a business idea when starting a business |
| Unit expiry date | 2008 |
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Details of the relationship between the unit and relevant national occupational standards (if appropriate) |
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Details of the relationship between the unit and other standards or curricula (if appropriate) |
Not applicable |
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Assessment requirements specified by a sector or regulatory body (if appropriate) |
Assessment to be based on naturally occurring evidence or realistic work environment |
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Endorsement of the unit by a sector or other appropriate body (if required) |
Supported by SFEDI |
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Location of the unit within the subject/sector classification system |
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Name of the organisation submitting the unit |
OCR |
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Availability for use |
To be used only by the following partners engaged in the SFEDI Framework project when developing Business Enterprise Qualifications CMI, Edexcel, IAB, ILM, NOCN, OCR, VTCT |
