Describe five external business environment challenges which might affect Iwoca’s business model. 

Business studies

Assignment task

TMA 01 is made up of two parts: Part A and Part B. You need to complete both parts of the assignment.
Part A: Case study – Iwoca
Part A of this TMA will be marked out of 80 marks. Your answer to this question should be no more than 1000 words.

Read the case study and answer the following questions:

Iwoca’s stated mission is to ‘to make financing available to a million customers’. Drawing on evidence from the case study evaluate their mission statement against the ‘six successful tests of a mission statement’ (Wilson and Gilligan, 2005). (30 marks)

What might have been the advantages and disadvantages to Iwoca in raising investment through family and friends as opposed to other forms of finance? (25 marks)

Describe five external business environment challenges which might affect Iwoca’s business model. (25 marks)