You have been identified as a business management student who needs to reach out and assess current problems in your community, i.e. the University of Johannesburg. The problem is one which you have identified due to being a student yourself, and it does not have to be a problem on campus, but it should be a problem which students are experiencing. Write up your own business idea solution for a service, product or process which you would like to start and then apply your venture by using the templates in your textbook for a business model and the business plan. Evaluation criteria and associated deliverables

1. Extensively define overall solution and market need [25 marks]

Describe the identified problem that your solution aims to solve by demonstrating your understanding of the market need being addressed (empathize)

Discuss a local (i.e. South African) competitor in the current market which offers a similar solution by showcasing it through a business model canvas Clearly describe the core purpose of the solution for potential clients, and how your offering can improve on current competitor offerings (define) 2. Project plan and funding [25 marks]

Identify activities that will ensure the solution will be developed (ideate)

Described the current stage of development and provide preliminary results by presenting them through pictures or illustrations (prototype)

Discuss the financial approach to potential business partners/funders for financial support

3. Commercialisation and marketing [20 marks]

Briefly describe the intended commercialisation strategy and explain the marketing strategy that will be used for reaching the intended target audience (test)

4. Business model and basic business plan [30 marks]

Develop a proposed business model and basic business plan for long-term sustainability