COURSE:ENTREPRENEUR

Question 3: (a) Justify the importance of taking your new business idea through testing and experimentation before eventually taking your product/service to the marketplace. You are also required to share your experience of having tested and experimented a product/service (provide the name and for which company) in the market (which market, where, with which prospective customers/clients then?) and the feedback you got (6 Marks) (b) Critically analyze the importance of the three elements of a real business idea as claimed by design thinkers'. (6 Marks). Indicate at what point these three elements allow you to proceed with your business idea and explain why (2 Marks). (c) Describe a real life situation of customers of your employer or your own company or some people you have been observing for a long time now and therefore you are very familiar with. Explain how you would apply the skill of empathy to identify their real need or problem. What is their need/problem? Argue whether this need or problem constitute an entrepreneurial opportunity. How could this need be met or problem be solved empathically and what are the real customer value propositions to be created? (11 Marks) Question 3: (a) Justify the importance of taking your new business idea through testing and experimentation before eventually taking your product/service to the marketplace. You are also required to share your experience of having tested and experimented a product/service (provide the name and for which company) in the market (which market, where, with which prospective customers/clients then?) and the feedback you got (6 Marks) (b) Critically analyze the importance of the three elements of a real business idea as claimed by design thinkers'. (6 Marks). Indicate at what point these three elements allow you to proceed with your business idea and explain why (2 Marks). (c) Describe a real life situation of customers of your employer or your own company or some people you have been observing for a long time now and therefore you are very familiar with. Explain how you would apply the skill of empathy to identify their real need or problem. What is their need/problem? Argue whether this need or problem constitute an entrepreneurial opportunity. How could this need be met or problem be solved empathically and what are the real customer value propositions to be created? (11 Marks)