14 May ENTREPRENEURSHIP
ENTREPRENEURSHIP
FALL 2015
CONCEPT STATEMENT AND FEASIBILITY STUDY CONCEPT STATEMENT ASSIGNMENT
A. Concept Statement (4th Edition: pages 106-107, 5th Edition: pages 101-102) 1-1 ½ pages
Write a single-spaced concept statement for your business.
1. Product or Service
2. Target Market
3. Benefits of the proposed product or service
4. How your product or service will be positioned relative to competitors
5. The Management Team (who will manage the company and what special skills or knowledge do
they bring?)
B. Feasibility Study (4th Edition: pp. 102-119, 5th Edition: 99-116) 8-10 pages
Using the following categories, conduct a feasibility study of your business idea. Your study should be thoroughly researched and cited using APA style. Headings and subheadings must be used throughout the paper.
1. An introduction to your product or service and the process your team undertook to come up
with your idea.
2. Product/Service Feasibility
Product/service desirability
Product/service demand
3. Industry/Target Market Feasibility
Industry attractiveness
Target market attractiveness
4. Organizational Feasibility
Management talent
Resources availability
5. Financial Feasibility
Total start-up cash needed
Financial performance of similar companies (if available)
Overall financial attractiveness of the proposed venture
C. Business Model (4th Edition: pp. 207-225, 5th Edition: 135-153) 2-3 pages
You will need to read Chapter 4 in the 5th Edition to effectively complete this part of the study) 2-3 pages
The standard or disruptive business model your business will follow
Complete the Barringer/Ireland Business Model Template (using headings and not a chart)
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