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Expert help when you need it- Q1:Assignment 2 Conduct opportunity analysis and prepare concept statement for your idea.See Answer
- Q2:Assignment 1 Opportunity Analysis/ Idea Generation The following steps to be followed while assessing the ideas. 1. Background research to check if something similar is already offered in the market, or in some other market. 2. Evaluate the problems to check which if a unique solution is required and can be pursued further for your project. The next steps will be followed once you have identified the one idea that you will pursue. For this part the student will prepare a write up for idea evaluation process. 1. The environmental trends which are favorable or unfavorable for your business idea. Here, you can provide findings from research studies, statistical data, reports, etc. The referred resources should be recent. 2. What is unique about your idea? Which needs/problems/ wants of the customer will be addressed by your idea? This part can again be supported with research based evidences as mentioned in point 1. 3. What will be the main resources required for your venture? While answering this point try to be as specific as possible. See Answer
- Q3:Assignment 2 Conduct opportunity analysis and prepare concept statement for your idea.See Answer
- Q4:Assignment 3 Business Idea Pitch The teams will pitch their ideas to the class. Each team will be given a time of 60 to 90 seconds. Either one member or the entire team can pitch the idea. While an idea is being pitched by one team the rest of the class will be carefully evaluating the idea as a venture capitalist. The VC will evaluate the idea focusing on the uniqueness of the idea, market opportunities, capability of the team to start and sustain the venture, overall presentation by the pitcher (confidence, logical, persuasive and handling the questions). The VC can ask questions based on the material covered in this course, what questions would you ask the firm's founders before making your funding decision? What answers would satisfy you? The VC can: make a decision on just the information provided in the pitch, would you fund this company? Why or why not?See Answer
- Q5:Scope and Background: 1) Choose a disruptive technology discussed during the week 8 & 9 content. Summarize your understanding of this technology based on in-class content and external research. 2) Discuss the different uses for the disruptive technology. This includes, but is not limited to: a. Different industries where the disruptive technology is used. b. Has the technology been used in any Disruptive Innovations? c. Potential future developments that could include the disruptive technology.See Answer
- Q6:briefly describes (explains) something for which you have a passion.See Answer
- Q7:Question 1: From Chapter 8, 9, and 10. The Weekly Learning POINT is your chance to reflect on the material from the past week and focus on a specific area of importance to you. Use the word POINT as your guide: P- PERCEPTION- What this week changed your PERCEPTION of Small/Entrepreneurial Businesses and/or yourself and your thinking. O-OBSERVE- What did you OBSERVE in real life that was a reflection of what you studied this week. I - INTEGRATE - How do you see the material integrating or tying into your other courses? N - NOVEL - What was NEW/UNUSUAL for you this week? T - TACTIC - What TACTIC will you now pursue? What practical action will you take because of what you have learned? Example: "What I found most interesting this week was our discussion about the different types of innovation. There are three different "medians" of innovation: Lifestyle, entrepreneurship, and corporate. The latter two I was well aware of, but I had never considered innovating in my day to day life. We learned last semester that innovation can be stifled by putting parameters around the way we think. In my case, I normally look at creativity and innovation in the parameters of entrepreneurship. This means that I'm missing out on tons of opportunities to innovate in my daily life. You also gave us real examples in your own life of ways that you've used your interests and creativity to make some extra cash on the side. Seeing your success and how simple innovation can be encourages me to turn my ideas into reality. I also found the Ted talk we watched on design thinking to be extremely informative. The most beneficial, paradigm shifting point made in the video is that design thinking starts with people. At a fundamental level this is humanitarian design. It is grounded in the needs of others, making it a pragmatic way of thinking that isn't so much concerned with making money as it is with helping others."See Answer
- Q8:. Question 2: A key aspect of entrepreneurship is opportunity identification. In order or build a habit of seeing possible products and businesses you will identify and submit 2 ideas. You should write about the need/opportunity that you noticed and the importance of the idea. Does it save time, money, etc.? Will it promote efficiency, add value, or just be a new outlet for fun? Consider your location, situation, and what is happing in the world currently and use these for inspiration. You can include sketches or drawings as well. In your journal write-up include at least the following information (but you can include more as well): The idea What promoted the idea Who would be an ideal customer What is the value of the ideaSee Answer
- Q9:Question 3: The creation of the Internet rapidly increased the ability of companies to succeed in business with a freemium revenue model. This Application Assignment has two parts. Part 1 is to identify a company that offer free products or services. For this company identify the following: • The company and what is provided free? What services and/or products cost additional money? Which of the following three types of free financial models do they represent and why: Direct cross- subsidies, Multi-Party Markets, The freemium model. In Part 2 you will take one of your own business ideas and imagine it with a freemium revenue model. For your own idea please address the same points as in Part 1. The company and what is provided free? • What services and/or products cost additional money? Which of the following three types of free financial models do they represent and why: Direct cross- subsidies, Multi-Party Markets, The freemium model.See Answer
- Q10:Task You will need to choose a business idea that you think could be successfully implemented in your country of origin. You will develop and submit the initial part (Midterm) of the business plan for your idea including the following points:See Answer
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