This assignment will comprise a 2000 word research report to critically evaluate a new business idea. You may investigate your own idea or use the one that has been collectively identified through group discussion. It is a requirement that the Harvard reference style be adopted. Whilst the assignment might focus on a jointly obtained idea, it will nevertheless be assessed as an individual body of work regarding research, content, argument, analysis, presentation and appropriate reference material. The feasibility study is an investigative tool that serves as a filter to screen out ideas that lack the potential for building a successful business. It is primarily for the benefit of the entrepreneur and should therefore include: â€¢ Elements of self-analysis, that illustrate the author's ability to cope with the physical, emotional and intellectual demands of driving the new venture. â€¢ Proposed venture description, that details the product or service that will be offered and its value proposition. â€¢ Market research, incorporating the demographic makeup of the target segment and, where appropriate, analysis of behaviouristic, geographic and psychographic characteristics. Include appropriate survey e.g. Concept Statement with short survey, Buying IntentionsSurvey â€¢ Industrial analysis, to gain an understanding of the relative strength of competitors. â€¢ Technical feasibility study, detailing specialised equipment, facilities, patents, labour and expertise that will be required. â€¢ Financial feasibility study, to determine start-up costs, sources of capital investment, and projected earnings and profitability over time. â€¢ Scenario versions(if applicable) to provide â€œwhat ifâ€ options for the venture's success. â€¢ A view on the scalabilityof the new venture. The opportunity analysis will be assessed on: An entrepreneurial approach to opportunity evaluation and management The breadth and currency of research sources Appropriate use of analytical methods and frameworks Evidence of applied innovation Critical thinking in discussion and argument Good scholarly practice Professionalism of presentation
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