Project 2: Opportunity Evaluation
Worth 15 points, due in Week 4
In this project, you will evaluate the idea selected in project one for its viability as a commercial opportunity. The purpose of this assignment is to develop the critical thinking and entrepreneurial mindset necessary to translate the idea into a money-making business. Along with critical thinking skills, you will develop research, communication and data evaluation skills.
Outcomes You Will Meet by Completing This Project:
- apply the basic steps involved in developing a comprehensive business plan for both starting and operating a business by creating your own business plan
- describe and explain the environments that businesses operate in—social, economic, political, technological, environmental and legal
- develop your business vocabulary and knowledge of concepts, trends, and current issues by applying them in all course work
- demonstrate the use of software and Internet sources by researching and planning the start-up and operation of your business
- demonstrate the use of a marketing assessment process to develop a marketing plan and a marketing strategy
- analyze and explain projected financial performance, using selected financial ratios
Complete the Business Opportunity Assessment Form using your selected idea from project one.
Step 1: Review the business opportunity assessment form and rubric before completing the assignment.
Step 2: Download the form and answer the questions or submit the collected data under the question. Use the form as your heading guide.
Step 3: Answer in complete sentences and make sure you are defining your terms and giving the reasons behind the conclusions that are drawn. Be thorough and clear in your analysis.
Step 4: Research all areas that require research (customer demographics, market analysis and competitor review). Summarize the data points collected from the research when answering the question.
Step 5: Review to make sure all elements have been answered, instructions followed, writing mechanics and APA are sound.
Step 6: Create a separate Title Page (Class Name, Instructors Name, Students name and Date) and Reference Page.
I have included project one paper to provide insight and information for project 2