The present study explored the use of an Inclusive Formative Assessment Practices (IFAP) scheme with undergraduate Business students. In terms of this project, 200 students were asked to used formative peer assessment (PA) in their first semester and self-assessment (SA) in their second semester to help them improve their writing performance, self-regulation, and motivation promoting sustainable learning development (SLD) and Social Justice. Students’ pre-test and post-test scores showed that the scheme improved students’ writing performance. The outcomes from students’ pre- and post-implementation survey revealed that it had a strong impact on students’ self-regulation. Students confessed that it was challenging but they thought it certainly improved their critical thinking, and sense of personal accountability significantly. This project wishes to inform scholarly debate around management knowledge presenting an IFAP scheme that can enhance students’ academic performance and motivation cater for students’ diverse needs by offering peer support and promote autonomy and SLD.