Description of the task: For this project, students are expected to:
– Group in teams of 2-4 students
– Deliver a group presentation of their business plan to Launch a new product / service onto the market, or develop and re-launch an existing product / service. These products / services are to offer the buying public an ‘added value’ over and above what is available on the market at present.
– Hand in copies of their power point slides, business model canvas and business finances.
On the day of the presentation, please arrive on time to avoid interrupting any groups during their presentation.
Assessment criteria:
Presentations will be assessed based on the extent to which they offer a convincing case as a whole. You should consider including the following information as part of your assessment:
1- Team members
2- Name of the business/ product/ service
3- Explanation of the business/ product / service concept.
4- Vision and mission
5- Entrepreneur/team feasibility analysis: Talk about yourselves – who are you as a team? Your backgrounds? Experiences? Motivations? Why are you the right people to lead this venture?
6- Industry and market feasibility analysis: The customer and the problem to be solved– the target customer? Their problem? The cost or importance of that problem to the customer? (Highlight the gap in the market). Primary and secondary research is useful here (e.g. questionnaires, interviews, data from electronic library resources…etc.). Use a compelling story!
7- Product feasibility analysis: A description of your solution to the problem –the product, system or service to solve that problem – e.g. talk about distinctive aspects to your product/service, product/service line, technology, intellectual property – This should build on the needs of your customers investigated in the previous step. (REMEMBER: Design thinking is a very useful tool to guide this project decisions).
8- Competitor analysis, and your Unique Selling Points – Applying Blue Ocean Strategy Canvas is required here!
9- The business model – Apply Osterwalder’s Business Model Canvas
10- Marketing plan – Market segmentation, targeting and positioning – The 4 (or 7) P’s
11- Growth strategy – Apply Ansoff Matrix
12- Financial analysis and projections – These will include the balance sheet and the income statement
