Project Homework: Opportunity Evaluation
Project Purpose
In this project, you will evaluate the idea selected in project one for its viability as a commercial opportunity. The purpose of this homework is to develop the critical thinking and entrepreneurial mindset necessary to translate the idea into a money-making business. Along with critical thinking skills, you will develop research, communication and data evaluation skills.
Outcomes You Will Meet by Completing This Project:
1) apply the basic steps involved in developing a comprehensive business plan for both starting and operating a business by creating your own business plan
2) describe and explain the environments that businesses operate in-social, economic, political, technological, environmental and legal
3) develop your business vocabulary and knowledge of concepts, trends, and current issues by applying them in all course work
4) demonstrate the use of software and Internet sources by researching and planning the start-up and operation of your business
5) demonstrate the use of a marketing assessment process to develop a marketing plan and a marketing strategy
6) analyze and explain projected financial performance, using selected financial ratios
Instructions:
Complete the Business Opportunity Assessment Form using your selected idea from project one.
1) Step 1: Review the business opportunity assessment form and rubric before completing the homework.
2) Step 2: Download the form and answer the questions or submit the collected data under the question. Use the form as your heading guide.
3) Step 3: Answer in complete sentences and make sure you are defining your terms and giving the reasons behind the conclusions that are drawn. Be thorough and clear in your analysis.
4) Step 4: Research all areas that require research (customer demographics, market analysis and competitor review). Summarize the data points collected from the research when answering the question.
5) Step 5: Review to make sure all elements have been answered, instructions followed, writing mechanics and APA are sound.
6) Step 6: Create a separate Title Page (Class Name, Instructors Name, Students name and Date) and Reference Page.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.