02 May EXPLAIN WHERE THE COMPETITIVE ADVANTAGE FOR THE BUSINESS IDEA EXISTS
This assignment provides an opportunity for you to describe a business idea, assess the competition it faces, outline the strategy for it and explain the competitive advantage you think it possesses to make it stand out in the marketplace:
Explain either your business idea or one you are familiar with
Describe which customer segment it is targeting
Analyse the competitive external business environment that you will face using two models that relate to the external business environment
Summarise your analysis of the external and internal business environment with a SWOT analysis
Using further models and concepts explain the strategy and positioning of the business idea
Explain where the competitive advantage for the business idea exists
Critique at least one of the models you have used in your report
Your response should be in the form of a written report of between 1500 – 2000 words.
Guidance notes:
Relevant concepts and models to complete this regular assignment include; market segmentation, STEEP analysis, Porters Five Forces analysis, GAP analysis, SWOT analysis, Ansoff Matrix, BCG Matrix, Porters Generic Strategies, Value Ladders and Value Chains. Better answers will also critique the concepts and models used.
Click here to watch a short lecturecast designed to help you write your assignment.
The learning outcomes for this assignment are:
Apply understanding of the inter-relationships of key business functions
Critically evaluate the value to the firm of proposed investment projects
Analyse and assess risk and its impact on a business and on managers
Apply understanding of the impact of ICT skills in formulating a business plan
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