Assignment: Module project: Market Potential
For the final part of your Individual Assignment, you will add the financial aspect of your innovation to what you have already submitted.
The financial aspect will include a financial plan to show:
• How much and when funds are coming into the organisation
• How much cash is available to the organisation as a result of your idea's implementation
• The projected financial position of your organisation as a result of the idea you implemented
To prepare for this Individual Assignment:
• Review your previous submission and Instructor's comments.
To complete this Individual Assignment:
You will need to prepare:
• An operating budget for the implementation of your innovation for the first 2 years, broken down into quarterly periods
• Projected income statements for your innovation for the first 3 years of its implementation
*Use the operating budget and income statement proformas located in the module resources.
When you have completed these financial statements, add them to the remainder of your project from Weeks 2 and 5 and submit as one document.
Note: As stated in the introduction to this Individual Assignment, the idea can be implemented by way of a new enterprise (i.e. setting up a business) or by applying your idea to an existing organisation so that either revenues are increased, or, and just as importantly, costs are reduced. Therefore, your financial plan can also reflect the eventual cost savings of an innovation.