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Business Proposal Assignment
Business Proposal Assignment
BD I3 C: IN T R O D U CT ION T O E NTR E PR E NE UR S H IP
THEASSIGNMENT
Youhavedecidedonaventureidea.Nowyoumustexplainhowyoudecidedonit,whatitis,and whyyoubelieveitwillwork youneedtocreatea businessproposal. Thisbusinessproposalmaybeacceptedbyyourbusinessmentor(Mr.G. Donovan)oritmaybe rejectedforinsufficientevidence,inwhichcaseyouwillneedtostartagainandresubmit. Pleasenote:youcannotsubmitanyfutureassignmentsuntilthisassignmenthasbeenaccepted (i.e.,withoutthisassignment,yougetzero ineverythingthatcomesafterit)
THETASK
SECTION1:IDEAEVALUATION
Youwilldevelopalistof3550possibleideasforaventure.Fromthislistyouwillchoosethebest5 options,andthenfromthese5possibilitiesyouwill choosethetop1. Youwill theneevaluatethe chosenideatodetermineitsviability. PRODUCTS: listof 50ideas,innoparticularorder thedecisionmakingmodels youcreated/completedinwhichyouevaluated your top five nd ideas,indicatingyourbestchoiceand2 bestchoice the completedworksheet6HatsThinking,inwhichyouexploreyour two chosenideas fromvariousangles
SECTION2:MARKETRESEARCH
Youwill performbothprimaryandsecondaryresearch foryourchosenventureideatoassess whetherthereisamarketfortheventure,andtheparticularsofthatmarket. PRIMARYRESEARCH: willincludeaquestionnairethatyouwillcreateandthenuseasasurveytool todeterminetheviabilityofyouridea,aswellascharacteristicsofyourmarket,yourcompetition, andyour targetmarket.Willalsoincludeeitherasummaryofafocusgroupdiscussionorasummary ofaseriesofinterviewsyouperform.
PRIMARYRESEARCHPRODUCTS:
a blankquestionnaire atallysheetforthe surveys answers,withappropriategraphs/charts,sectionedinto: i. Product ii. Market&Competition iii. Targetmarketcharacteristics thequestionsheetforyourfocusgrouporinterview (NOTE:thiswillbeadifferentsetof questionsthanforyoursurveyquestionnaire) asummaryreportof12pagesofyourfindingsfromperformingeitherafocusgroup discussionwith610participantsoraseriesof101on1interviews
TH,2010 DUEDATE: FRIDAY,APRIL9
A S S I G N M E N T : B U S I N E S S P R O P O S A L
BD I3 C: IN T R O D U CT ION T O E NTR E PR E NE UR S H IP
SECONDARYRESEARCHPRODUCTS:
asummarysheetofsecondaryresearchsourcesthatprovidesupportforthe viabilityof yourventureidea i. providesourceandsummaryofrelevantinformationyoufoundatthissource ii. yourresearchmustprovideinformationaboutyouproductmarket,aswellasthe localeconomyingeneral iii. lookatpastresults,andfromthat,drawtrendstoforecastthepotentialfuture situation PESTanalysisforyour marketenvironment SWOTanalysisforyourcompany/product SWOTanalysisforyourmajorcompetitor Opportunityassessmentevaluationforyouridea,incorporatingtheresearchyouhave completed(thisisinworksheetform) Bibliographyofall secondaryresearchsourcesused
RESEARCHANALYSISPRODUCTS:
SECTION3:THEBUSINESSPROPOSAL
Ina 24page reflectionpaper,youwillproposethebusinessthatyouintendtoprepareaventure planfor. Thereflectionpaperwillhavethefollowingsections,inwhichthesequestionswillbe answered(butthisis notinquestion/answerformat thisisinreportformat) A. TheBusinessDescription Whatproduct/servicedoyouintendtooffer? What consumer needswillyousatisfywiththeproduct/service? Whoisyourcompetition? Whatmakesyoudifferentfromyourcompetition? i.e.,whatisyourUniqueSelling Point(USP)? B. TargetMarket Brief,pointformdescriptionofyourtargetcustomerfromtheseperspectives demographic,geographic,socioeconomic Usegraphswhenappropriate How willyourproductappealtothesecharacteristicsinamannerthatyour competitiondoesnot? C. BusinessClimate&MarketTrends Whatcurrenttrendsinyourmarket / theeconomywillhelpyourproductbesuccessful? Usegraphswhenappropriate Whatabout yourproductwillallowittobesuccessful(re:thesetrends)thatyour competitionwillnotbeabletotakeadvantageof?
TH,2010 DUEDATE: FRIDAY,APRIL9
A S S I G N M E N T : B U S I N E S S P R O P O S A L
BD I3 C: IN T R O D U CT ION T O E NTR E PR E NE UR S H IP
ASSESSMENT:
BelowLevel1
Level1
Level2
Level3
Level4
Score
THINKING/INQUIRY
Usingmethodsof marketingresearch to determinewhether demandexistsforthe proposedgoodor service Nooralmostno marketing researchevident Marketingresearchis incomplete, irrelevant,or confusing Marketing researchis completeand providesan adequatebasis fordetermining demand Marketing researchprovides goodandrelevant detailthatstrongly supports conclusions Marketingresearch iswellthoughtout, detailedand consistent;inquiry presents exceptionalsupport forconclusions
7.5
10
x3
5.5 6 APPLICATION
6.5
7.5
10
x2
5.5
6.5
7.5
10
x4
5.5
6.5
7.5
10
x1
TOTAL: