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ENTR903 Business Innovation Plan

Question

Answered

Questions:

In relation to your own idea for a new venture (or an idea assigned by the Lecturer if you do not have an idea of your own), define and critically analyse the entrepreneurial opportunity from marketing, financial, technical, legal and social perspectives.

Based in your analysis, recommend whether or not to develop the opportunity further and justify the decision with reference to credible and appropriate data.

Make sure all your sources are cited correctly in-text and in your list of references.

Check what you have written against the marking criteria (rubric) and improve where you can.

Criteria

Exceeds Expectations

Content

Outstanding example/s of presenting high quality content skillfully and cohesively.

Organisation

Logical structure. Spent appropriate time on each element of the presentation. Transitioned smoothly from introduction to main points and to the conclusion.

Language

Used compelling and imaginative language in a way appropriate for a business audience.

Delivery

Used a wide range of delivery techniques (posture, movement, gesture, eye contact, varying pace and tone) to make the presentation

engaging. Articulated clearly, pronounced words I correctly and could be clearly heard.

Supporting Material

Made excellent use of graphics or other elements to enhance the presentation.

 

Criteria

Exceeds Expectations

 

 

Content: Business Opportunity Analysis

Uses appropriate, relevant, and convincing content to clearly identify and evaluate a business opportunity from marketing, financial, technical, legal and social perspectives.
Recommends whether or not to develop the opportunity further and clearly justifies the decision with reference to credible and appropriate data.

Sources and evidence

Cites credible relevant journal articles and other sources (e.g. statistical data and market research reports), which have contributed to your insights and which support and justify your decisions, referenced in Harvard format.

Language

Uses English language to skillfully communicate meaning with clarity, fluency, and impact and is virtually error-free. Well organised content presented in a high quality report format including relevant graphics and tables

 
Introduction (300 words):
- What is the opportunity you have identified?
- What is the problem you are trying to solve? Why is it important?
- Who is affected by it?
- What is your proposed solution?
- Be specific
- Make it interesting — so the reader wants to read on and know more
 
Market Research (400 words):
- What is the market for the solution you have identified? - E.g. size, segments, possible substitutes.
- How much of this market do you think you could capture
- in the first year? In five years? Why?
- What will you charge and how? (e.g. one off sale or subscription)
- How are you going to sell your product or service?
 
Technical and other Resources (200 words)
- What are the potential challenges? Is your idea patentable?
- What resources would you need? What are your rough estimates of costs
- Initial and on-going?

Financial Summary (200 words)
- Given your potential sales and costs, what are your initial forecasts for the first five years?
- How much investment will you need?
- What sources of finance are you considering?

Social (300 words)
- Is this a social business? Does it have potential for social good?
- How will you address sustainability and community expectations?
- Which of the UN Sustainable Development Goals are relevant?

Recommendation (200 words)
- Given what you have found out,
- Do you recommend going ahead with the opportunity or pivot Or try something completely different?
- Remember to justify your recommendation

Conclusion (200 words)
- Summarise the opportunity and recommendation
- Make it interesting for the reader
- This is your last chance to impress!

ENTR903 Business Innovation Plan

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