P$2$ Task: Explain factors that influence the formulation

of a business idea or objective in a specific context.

Scenario:

You live in a city with both a large student population and a growing number of tourists.

You considering investing in one of two properties: one is near a university and would be

ideal for student accommodation, while the other is in a tourist hotspot, perfect for

holidaymakers. You have a set budget of $$250,000,$ and the properties need varying

amounts of refurbishment before they can be rented out.

What students need to know:

Objective: Students need to explain how specific factors like location, budget, and

timing shape the formulation of a business idea.

Focus: Discuss how the location of the property, financial constraints, and timing

for refurbishment will impact your objectives.

Task:

Explain how your business objectives are shaped by the specific context of your

investment. Focus on your available funds, the location of the properties, and the time

needed to refurbish and start renting them out.