You are required to identify a potential new venture concept and evaluate whether it will be feasible.  This is not a business plan, rather an ‘objective’ evaluation of whether or not your idea is worth pursuing.

This will require you to conduct primary and secondary market research and prepare a one year projected cash flow.  There is no one format to present this, but your report should include:

1. Description of the Business Concept
2. Market Research & (Industry, Competitors and Customers)
3. One year projected cash flow and break even
4. Group Evaluation of the business concept/model and feedback provided.

 

• What are the strengths and weaknesses of the concept?
• Is the business concept feasible? (Yes or No)
• Would your group pursue this venture? Why or why not?
• Discussion of how the concept has evolved through the course of the research and feedback gained.

1. Your report may include texts, charts, diagrams, pictures, tables etc ~ it is up to you ~ please remember that in the real business world managers expect documents to be readable and reasonably concise.

 

The following grid may help you in conducting your group evaluation.  Evaluate the concept against the following eight criteria, using a score of 1 (very poor or very unattractive) to 5 (very high or very attractive) and display your group’s results in a grid.

 

	You	Group Member 1	Group Member 2	Group Member 3
Attractiveness of idea – Would you enjoy doing it?
Ability to undertake – Do you have the skills needed to do it?
Practicality – Is it something that really can be done?
Potential market demand – Will customers buy it?
Ability to combat competition – Is there competition and can you combat it in some way?
Ability to differentiate – Can you differentiate it in some way that can be sustained over a long period?
Price potential – Can you avoid competing simply on price?
Resource availability – Do you think you have, or can get, the resources you need to start up this business?

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