From the range of UK business vehicles available, you should choose two and compare and contrast these two different types of business structure for suitability for a new but potentially fa

You will individually (and all your own work, avoiding plagiarism) write an essay on the following:
From the range of UK business vehicles available, e.g. public company, private company, partnership, sole trader etc you should choose two and compare and contrast these two different types of business structure for suitability for a new but potentially fast growing start up. You could justify why you have chosen these two from the range available using the techniques learnt in your formative exercise (decision matrix or similar).

Your theoretical startup will probably be active in a Technical (STEM) area. If you wish to describe a start up in a non-STEM area, then discuss this with your lecturer first.

It is advised that you do not describe actual companies, but rather consider an abstract scenario. However you are welcome to illustrate specific points in your essay with reference to a real-life example and at each point you may give brief supporting details of your case study examples in an appendix.

The factors you should consider include a range of economic, international, technological, commercial and management issues which will influence the choice of business structure, especially if the activity is trans-national.

Your report body should not exceed 6,000 words and any appendix not more than 1,000 words. Each of the 8 criteria listed below is worth up to 10% of your final mark. The marks you receive for each one is determined by the official grading criteria A-F with finer marking within each grade category.

1
Understand what different business vehicles are available in the UK, the relative merits of different business vehicles and the various corporate and personal taxation issues that may apply. Understand in broad strokes the process of new venture formation and the role of Companies House.

A
A coherent review of the landscape of possible business constitutions, how these are set up and financed, with a closely argued case for a vehicle selected to optimise the opportunities, and minimise the risks, for the case study.

B
Considers all relevant business vehicles in detail, discusses the tax and legal arguments for and against each. Uses this as the basis for a reasoned recommendation for the company constitution and financing.

C
Considers the main business vehicles in detail, outlines the tax and legal advantages of each, with citations. Makes a clear case for the selected company format.

D
Demonstrates familiarity with available business vehicles and justifies a choice for the case study business.

MF
Identifies business vehicles, and may express a preference, but fails to relate these analytically to the case study.

F
Available business vehicles may be mentioned, but no discussion of their importance is presented.

2
The need for obtaining adequate investment and working capital finance, the various financing options available like debentures, shares, options and warrants both now and for the future. How to attract investment from e.g. Business Angels or Venture Capital.

A
Realistic opportunities and threats to the case study business presented by changes in the external environment are identified and discussed in detail. Historical examples of such effects are cited, from experience, or from the literature. Notions of sources of money and associated risk management are indicated.

B
Potential opportunities and threats to the case study business presented by changes in the external environment are discussed in detail, with reference to the case study. Possible countermeasures like further issues of shares etc may be suggested.

C
At least two sources of finance are describe, some differences are noted and the consequences for the case study business are discussed.

D
Financing is mentioned, but not clearly related to the case study.

MF
There is a weak description of the range of options available and a poor understanding of financing, management forecasting and budgeting.

F
The economic environment and sources of finance are mentioned only in passing or not at all.

3
Consider alternative management structures and how operations might be organised, a brief demonstration of understanding of some analysis tools.

A
A coherent model for management and organisation of operations is presented in the context of reported experience. Particular attention is paid to the need for these to evolve with changes in the environment.

B
The organisational requirements of the case study are identified, particularly resilience to change. Alternative management and operational structures are considered, and recommendations proposed.

C
Alternative modes of management and operations organisation are outlined and compared. Recommendations for the case study are proposed and justified.

D
Management and organisation are addressed, but only adequately or tangentially, for example, under other headings. Suitable structures for management and operations are proposed for the case study.

MF
Mention is made of management and operational issues, but no overview of the alternatives is offered. Where proposals for the case study are suggested they are not substantiated

F
Negligible mention, or none, of management and operational issues.

4
How to formulate a marketing and sales strategy particularly with regard to the markets and services and the resources required to achieve the desired level of revenue and profit

A
A coherent policy for a marketing and sales strategy is proposed for the case study. The resources are estimated which will be needed to provision markets and services so as to deliver planned revenue levels. Change of strategy over time, with maturity and evolving technology is considered.

B
Provides clear guidance to setting targets, and formulating a marketing and sales strategy to achieve these. The importance of markets and services, and resourcing these adequately, is recognised. Discussions are related to the needs of the case study business.

C
Ways of formulating a marketing and sales strategy are explored. The importance of markets and services is recognised. Discussions are related to the needs of the case study business

D
The importance of formulating and monitoring a marketing and sales strategy is established. Marketing and sales approaches are outlined along with tactics and ways of formulating a strategy from these.

MF
Some marketing and sales approaches are listed, but not coherently. There may be no discussion, or only a weak treatment, of how to develop a strategy

F
Marketing and sales strategy is not covered, or its formulation is not addressed.

5
Labour and human resources issues With particular emphasis on the ability to retain and incentivise key members of the team who are critical to the future success of the business, but also to other publics.

A
Imaginative proposals for retention and incentivisation of staff are included in a comprehensive review of labour and HR requirements for the case study. The review reflects how these needs will change over time, as the business matures and technology evolves.

B
Presents an overview of the close relationship between company performance and careful HR management. Discusses possible means for the case study business to retain and incentivise key members of staff.

C
The staffing and HR requirements of the case study are examined and related to the dynamics of the labour market. The importance of good HR in retaining and encouraging key staff is discussed.

D
The importance of planning and managing human resources is discussed. The need to keep key staff may also be recognised.

MF
The issues of labour and HR are raised, but discussion of their management is confused or inadequate.

F
Labour and HR issues receive only token recognition, or no mention.

6
How to plan the relevant knowledge management and information management systems for knowledge workers and the possible impact of the digital revolution on future trading.

A
This gives a succinct, up-to-date overview of evolving digital technology relevant to the strategy and operations of the case study business and how these could fit with other discussions – marketing, HR, compliance etc. There are strong proposals for planning effective KM and IM systems, showing mature insight into the potentials of leveraging corporate knowledge.

B
Shows a clear understanding of the strategic benefit of KM/IM systems. Recognises the problems of incentivising staff to populate and use a KM system. Provides a clear and informative summary of current and predicted technological developments. Discusses how these will present opportunities and threats to the case study business, including how its strategy and operations may change fundamentally.

C
Analyses the information and knowledge requirements of the case study business and considers how these might be fulfilled. Mentions some of the known difficulties in developing a KM/IM system and identifies people and sources who should be involved. Suggests an outline plan.

D
Demonstrates a basic understanding of the application of KM and IM systems. Discusses some criteria for planning a KM/IM system and links these to the case study business.

MF
The use of KM and IM is mentioned but no clear indication of how they may be used. The discussion may also fail to relate to the case study.

F
No significant consideration of KM or IM systems.

7
Professionalism: Legal, ethical, regulatory and compliance issues.

A
Presents an overview of the problem of conforming to LERC requirements. Discusses the advantages of having a consolidated set of controls to ensure efficient compliance with diverse governance requirements. Proposes a policy for the case study business, allowing for change in requirements over time.

B
Considers the liabilities to meet LRC requirements which the case study business may face. Discusses the range of authorities which may impose laws, standards and regulations. Recognises that companies operating globally will need to meet LERC requirements in multiple supervisory regimes. May provide examples of this.

C
Discusses the range of authorities which may impose laws, standards and regulations. Considers the liabilities to meet LERC requirements which the case study business may face within its home regime.

D
Describes some of the liabilities to meet LERC requirements which a company may face. Suggests some means for the case study business to ensure compliance.

MF
The need to meet some legal, regulatory and compliance issues is mentioned, but there is no serious consideration of how this will be ensured.

F
Legal, ethical, regulatory & compliance issues are barely mentioned or not considered at all.

8
Presentation: References, grammar, clarity and style.

A
The presentation is of such a high quality as to meet the requirements of a professional publication.

B
The report is very well presented. Residual points which may need attention include: Title page, Contents page, Introduction, Synopsis, Section numbers, Section headings, Paragraphs, Coherent style throughout (fonts, borders, etc.), Citations, Illustrations, Numbers and Captions to illustrations, Separate (headed) section for references, Clear layout to references.

C
The presentation is supportive of the reader. Points, some of which may need attention include: Title page, Contents page, Introduction, Synopsis, Section numbers, Section headings, Paragraphs, Coherent style throughout (fonts, borders, etc.), Citations, Illustrations, Numbers and Captions to illustrations, Separate (headed) section for references, Clear layout to references.

D
There are some weaknesses in presentation but these are irritants to the reader rather than preventing comprehension of the report. Missing features may include: Title page, Contents page, Introduction, Synopsis, Section numbers, Section headings, Paragraphs, Coherent style throughout (fonts, borders, etc.), Citations, Illustrations, Numbers and Captions to illustrations, Separate (headed) section for references, Clear layout to references.

MF
Presentation is sufficiently weak as to hinder comprehension of the report. Missing features may include: Title page, Contents page, Introduction, Synopsis, Section numbers, Section headings, Paragraphs, Coherent style throughout (fonts, borders, etc.), Citations, Illustrations, Captions to illustrations, Separate (headed) section for references, Clear layout to references

F
Presentation is extremely weak. Missing features may include: Title page, Contents page, Introduction, Synopsis, Section numbers, Section headings, Paragraphs, Coherent style throughout (fonts, borders, etc.), Citations, Illustrations, Captions to illustrations, Separate (headed) section for references, Clear layout to references.