You will select 2 of the 5 ideas in your Ideas Log to “test” through a research process. Your summary will involve a preliminary market overview of these entrepreneurial solutions, exploring:

ï Customers,

ï Competitors,

ï Product/service,

ï Suppliers,

ï Business location, and

ï Industry.

Your summary should include research under the subheadings:

i) Demographics and segmentation,

ii) Target market,

iii) Market need,

iv) Competition,

v) Barriers to entry, and

vi) Regulation.

his assessment requires students to maintain an ‘ideas log’ – a journal for their ideas. Note: word limit (750-1000 words) is indicative because of the flexibility involved in how you will record ideas.

You will have to develop five (5) ideas for new businesses, identifying innovations that could be developed into a viable business. Ideas can be recorded into a journal of ideas (“Ideas Log”) in a mixture of creative written formats (e.g. structured paragraphs, mind maps, flowcharts, or word association).