Business Opportunity

Description of the opportunity or unmet need from a customer perspective

The Pitch.

The Industry

Overview of the industry sector. (this should be the same as in the pitch)

Industry trends.

Major players in the industry.

Estimated industry sales.

If it is a new business in an existing industry then a Porters analysis may be appropriate and an assessment of industry attractiveness.

Summary of the new ventures place within this industry.

LO2Demonstrate ability to structure an analytical entrepreneurship argument by conducting analysis that demonstrates academic rigour.

Competitive Analysis

Direct and indirect competitors.

Assessment of their relative competitive advantage.

Strategy Canvas

The factors of competition need to be clear and the level of offering justified as much as possible.

The factors of competition need to be consistent with what was discussed in the business opportunity especially the day in the life. The factors need to be defined and this can be done in the assessment of the competitors. These competitors appear on the value canvas. The focus of the value canvas is what the customer perceives as the factors of competition and how true the offering is. That is why one axis is offering high-low and the other is factors of competition.

ERRC Analysis.

The eliminate, reduce, raise and create dimensions of the ERRC analysis need to be consistent with what was discussed in the opportunity especially the day in the life and the factors of competition that appear on the value canvas.

Assessment of your competitive advantage. Use the Strategy Canvas and the ERRC analysis to clarify your unique selling proposition (USP). That is, you need to make clear why the customer should buy this product or service, and what the specific benefits are. This proposition must be one that the competition either cannot, or does not, offer. It must be uniquea uniqueness of a value curve not otherwise made in that industry. The proposition must be strong enough to move new customers into the industry.

Market Analysis

Target market description

This should be the target market identified in the industry sector. This section can also mention future customers; however, it should concentrate on the initial target segment.

Geographic location, demographics, target market's needs and how these needs are currently being met. This should link back to competitive analysis.

Target market size and value

Market value assessment. The assumptions and the logic by which you arrived at an estimate of the size and value of the market needs to be presented.

How will you overcome any entry barriers to the chosen market?

What percentage of the market do you think you will capture and why. An ADAR analysis could be conducted if the market is mature.

LO3Conduct different modes of feasibility analysis to determine viability of business.

Technical Feasibility

Technical aspects that need to be addressed, is this innovation technically doable and what need to be done. What technology currently exists and what needs to be developed?

The cost of development need to be identified. Assumptions can be made but should be stated. Development costs of these are reflected in the financial plan and might include initial design and start up manufacturing establishment costs.

Financial Feasibility

Funding requirements. You need to identify some initial costs for the development of the product and development of the marketing material as well as ongoing costs.

Basic financial statements.

LO4Devising strategy and applying models to ensure efficient business processes and real-time applicability of knowledge gained throughout the course.

Marketing Strategy

Sales strategies note that the costs of these are reflected in the financial plan

Sales should include development of initial point of sale, web site design and other material if this is part of your marketing plan as well as ongoing costs.

Pricing plan. How does the price compare to alternate products?

Proposed advertising and promotion activities. How will the product/services benefits be communicated and what channels will you use?

Operating Strategy

Head office physical location.

Facilities and equipment.

Kinds of employees needed.

Inventory requirements and suppliers.

Exit and or Growth Strategy

If the report is for existing organization investors, what are the stages of potential growth in markets it serves, and new products developed.

If the report is for new venture investors, when will you seek additional investment in the business or choose to sell the business. This will logically follow from when the business starts to make a profit or strong revenues are established.

Conclusion/Summary

Summarize the key points about what makes this business attractive and how you can assure investors it will be successful.

Why, and to what extent, will this innovation or new business venture add value to the organization, the sector, the industry or society that implements and supports it if the proposition is aimed at an existing organization or other investors/venture capitalists, banks etc.?

o References

This is an applied business report so only use references to justify an assertion of fact such as market size or acknowledgement of any theoretical model used such as the value curve. Use Harvard or APA referencing

o Appendices and Exhibits

Any additional information that will help the report but are too detailed for the body of the report.

Marketing studies.

Detailed Financial Plan

Timelines / Schedule of Activities

Move excess wording to the appendix in a logical manner.

my idea is to develop an online store that enables people to customise their handbags