Consider the given scenario:
Develop a written proposal outlining a specific product or service idea you have for Circle Solutions. Circles's company type and product area have been left unspecified to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market. You may not use the same area or idea used in previous assignments.
Part 1: Proposal
Idea: Wedding Planning and the product is Floral Solutions (arrangements and more)
Your professional proposal should describe a new product idea in detail, giving brief consideration to the feasibility of the following categories:
- the industry
- market size
- team requirements
- scalability of product
- financials (whether or not the product can be sold for more than it costs to make it's profit potential)
Your product idea must pass feasibility tests for it to be a viable product idea. Future class assignments will further investigate each of these areas in greater depth and will build from the information you identify and deliver within this assignment.
Part 2: Subsidiary Company
Then, provide the strategy to be employed to get ideas implemented internally, or describe the reasons why a product idea should be spun off into a new subsidiary company owned by Circle Solutions. Important aspects of this outline are as follows:
- the practical definition of the multidisciplinary team that the product idea requires
- describing the different types of team members needed and their respective skill sets
- where one would find them for an intrapreneurial versus entrepreneurial approach.