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

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

SECONDARYRESEARCH: willincludeananalysisofcurrentstatisticsandinformationthatfocuses onthemarketinwhichyourproductwillcompete,yourmajorcompetitor, andthepresentand potentialconsumermarketasawhole.

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

5.5 6 6.5 COMMUNICATION

Some organizationand clarityofideas

7.5

10

x3

Organizingand presenting information

Nooralmostno organizationof ideasevident

Limitedorganization ofideas difficultto understand

Considerable organizationand clarityofideas

Logical and comprehensive organizationof ideas&excellent clarity

5.5 6 APPLICATION

6.5

7.5

10

x2

Evaluatingthe opportunityoridea fortheproposed venturetodetermine itsviability(e.g.,use ofdecisionmaking model;logical conclusionsmade fromresearchdata)

Nooralmostno evaluation completed assessmentis unpassable

Evaluationisbasedon fewcourseconcepts andmodels

Somecourse conceptsform thebaseof evaluation conclusionsare basicbut complete

Gooduseofcourse conceptsin evaluationtoform strongand consistent conclusions

Thorough, insightful useof courseconceptsin assessment producesexcellent, incisiveconclusions

5.5

6.5

7.5

10

x4

Identifyingand assessingthe potentialcompetition fortheproposed goodorservice(e.g., usingSWOTanalysis andPESTanalysis)

Nooralmostno analysisis completed not passable

Limitedanalysisis completed very basicattemptat analysisusesvery littleappropriate detail

Analysisuses somedetailthat providesabroad assessmentof competition

Appropriate amountanddepth ofdetailusedto provideagood assessmentof competition

Thoroughand incisiveuseofdetail andanalysis producesan exceptional assessmentof competition

5.5

6.5

7.5

10

x1

TOTAL:

TH,2010 DUEDATE: FRIDAY,APRIL9