Innovation Proposal Assignment Help
Individually identify a business opportunity would be suitable for a new start up business. This may require some thought! This business management will be in the context of the degree subject which you are studying and could involve a service or a new product, offered on the internet, through retail or business to business. Be creative in the context of your degree choice.
Produce a 1500 word report with a max of 3 appendices to address the following elements:
- Identify the business opportunity
- Identify why it would be a good opportunity for an entrepreneur starting a new business
- Explain the market which would be addressed
- Conduct secondary research to investigate the validity of the proposal and any competitors
- Consider the problems which could arise in developing the concept
- Reflect on the process you went through finding and developing an idea – consider the creative process involved
- b) Recognise the key issues facing a business and potential problems involved in setting up and running a business
- c) Develop the enterprise skills and attitudes of an entrepreneur
- d) Create and develop a simulated business concept and justify its feasibility
Submission date: TBC (Due in December 2015)
Be aware that there are over 300 students on this module. If everyone uploads simultaneously the system is likely to crash. To avoid this upload in advance of the deadline to ensure your work is not late. Any work received after the deadline will be graded at D- maximum
This should be in Business English with care taken with punctuation, spelling and presentation. The report style and quality should be appropriate for an employer.
Guidelines for opportunity and enterprise
- To identify a new opportunity the first stage is to analyse the various markets you are familiar with.
The majority of innovative business ideas are based on existing ideas, products or services with some improvements to add value to customers
You have to do some research project on current markets
You should look for areas of growth in the economy
Look for businesses that are successful and find out if you can offer an improved product or service. You may identify a product which has limited online provision. Read more : Unit 12 Hospitality Provision In Travel And Tourism Sector
You can also look into changes taking place in customer tastes and preferences
- Discuss why you consider the idea to be good for an entrepreneur. What will be the benefits, Growth potentials, long term benefits etc.
- Describe the market your project intends to target. Discuss the size, age groups, social backgrounds, cultural and religious backgrounds, size of the market, growth potentials,
- Assess the validity of your project in terms of resources, market demand, competitive advantage, industry life cycle, Porters five forces, PESTLE, the skills and competences that an entrepreneur requires.
- Identify the problems that are likely to occur and how you will tackle them
- Provide a reflection on the process you went through to identify the innovative idea and the development of the report. Order Now