MGMT20143 Assessment - "Proposed Business Model:

Assessment -

Problem Identification: Entrepreneurial problem that needs solving and/or the reason the innovation is required is effectively explained.

Benefits Generated: Persuasive argument of the benefits to be generated by the idea.

"Proposed Business Model: Discussion of the proposed business model".

Critical Success Factors: Critical success factors to be managed during execution of the idea.

Evaluation of Feasibility: Evaluation of the feasibility of the idea.

For each item, circle the most appropriate answer -

Part I: Strength of Business Idea

 

Low Potential (-1)

Moderate Potential (0)

High Potential (+1)

1. Extent to which the idea:

  • Takes advantage of an environmental trend
  • Solves a problem
  • Addresses an unfilled gap in the marketplace

Weak

Moderate

Strong

2. Timeliness of entry to market

Not timely

Moderately timely

Very timely

3. Extent to which the  idea "adds value"  for its buyer or end user

Low

Medium

High

4. Extent to which the customer is satisfied by competing products that are already available

Very satisfied

Moderately satisfied

Not very satisfied or ambivalent

5. Degree to which the idea requires customers to change their basic practices or behaviors

Substantial changes required

Moderate changes required

Small to no changes required

Part 2: Industry-Related Issues

 

Low Potential (-1)

Moderate Potential (0)

High Potential (+1)

1. Number of competitors

Many

Few

None

2. Stage of in  ustry life cycle

Maturity phase

or decline phase

Growth phase

Emergence phase

3. Growth rate of industry

Little or no growth

Moderate growth

Strong growth

4. Importance of industry's products and/or

services to customers

"Ambivalent"

"Would like to have"

"Must have"

5. Industry operating margins

Low

Moderate

High

Part 3: Target Market and Customer-Related Issues

 

Low Potential (-1)

Moderate Potential (0)

High Potential (+1)

1. Identification of target market for the proposed new venture

Difficult to identify

May be able to

Identify

Identified

 

2. Ability to create "barriers to entry" for potential competitors

Unable to create

May or may not be

able to create

Can create

3. Purchasing power of customers

Low

Moderate

High

4. Ease of making customers aware of the new product or service

Low

Moderate

High

5. Growth potential of target market

Low

Moderate

High

Part 4: Founder- (or Founders-) Related Issues

 

Low Potential (-1)

Moderate Potential (0)

High Potential (+1)

1. Founder's or founders' experience in the industry

No experience

Moderate experience

Experienced

2. Founder's or founders' skills as they relate to the proposed new venture's product or service

No skills

Moderate skills

Skilled

3. Extent of the founder's or founders' professional and social networks in the relevant industry

None

Moderate

Extensive

4. Extent to which the proposed new venture meets the founder's or founders' personal goals and aspirations

Weak

Moderate

Strong

5. Likelihood that a team can be put together to launch and grow the new venture

Unlikely

Moderately likely

Very likely

Part 5: Financial Issues

 

Low Potential (-1)

Moderate Potential (0)

High Potential (+1)

1. Initial capital investment

High

Moderate

Low

2. Number of revenue drivers (ways in which the company makes money)

One

Two to three

More than three

 

3. Time to break even

More than two years

One to two years

Less than one year

4. Financial performance of similar businesses

Weak

Modest

Strong

5. Ability to fund initial product (or service) development and/or initial start-up expenses from personal funds or via bootstrapping

Low

Moderate

High

Each part has five items.


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