13 Jun DESCRIPTION OF THE BUSINESS CONCEPT & BUSINESS MODEL
Identify a new venture opportunity in OMAN. – Detailed instructions wil be attached. – Use Harvard referencing. – Use clear and simple English.
GROUP COURSEWORK – 2,500 Words (30%)
Working in self-selected teams of four to six students you are required to identify a potential new venture opportunity 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:
Description of the Business Concept & Business Model (Potential Opportunity identified)
Market Analysis (Industry, Competitors and Customers)
One year projected cash flow and break even
Group Evaluation of the concept
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.
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.
Tips:
is the idea worth perusing?
Will it be feasible? Can we actually make a business out of it?
Talk about what type of research you will use
Where will you get your funds?
In what industry does this idea come from?
Who would be the target market?
Who are your competitors?
When will you breakeven and when will you start making profits (create a breakeven diagram)
Use the terminologies that you have been taught.
Marking criteria
This is very much an ‘applied assignment’, you are being evaluated on your ability to understand the concepts and apply them in practice. Therefore the emphasis is not explaining the theory opportunity recognition and evaluation, but to use the theory to construct and present a ‘business model’, which you will then evaluate. As such at the highest level there is no ‘perfect solution’. However higher marks will be awarded based on the following criteria:
Clarity of depiction of concept and business model.
Quality of research.
Quality of analysis.
Synthesis – concise, summarized and business like.
Structure, style and presentation of work – clearly organized logical flow with appropriate use of tables, diagrams and appropriately referenced.
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