Reference no: EM132671390 , Length: 1500 Words

MGT607 Innovation, Creativity & Entrepreneurship - Laureate International Universities

Assessment - Business Concept Plan

Learning Outcome 1: Critically evaluate and justify the perspective of the user and the unique value proposition aimed at them in the development of the enterprise.

Learning Outcome 2: Design and deliver an impactful business solution that is under pinned by the objectives of the business case.

Learning Outcome 3: Analyse the viability of the business modeland solution developed.

Learning Outcome 4: Critically reflect on key elements that influencethe success of the business case and personal journey.

Context:

Identifying an opportunity is great! For example, before Uber became a global icon the idea of a technologically based journey service was just an embryonic idea by Garrett Camp and Travis Kalanick. However, before any idea or opportunity can proceed you need to be able to articulate some key things to obtain buy-in to continue before significant time and investment is spent developing a product / service / process innovation that may require some adjustments and/or other considerations if you want it to be successful.

This assessment requires students to develop a Business Concept Plan that articulates what your idea is and what you would like to do with your idea to exploit the opportunity you have identified. This clarity of your vision will serve as evidence that you have thought critically about the idea.

When investors and other business people see this, they will have a better sense of the risk they would take by working or investing with you just by reading this document.

You will need to incorporate the theory, which you have learnt in Modules 1 to Modules 3 to provide you with the tools and structure for the components that you need address in your plan.

INSTRUCTIONS:

You are required to develop a Business Concept Plan which provides a business solution to an opportunity which you have identified. You need to ensure that the plan demonstrates that your idea is a feasible and viable solution and something that will obtain support from an executive or management team to develop in to a business case, ultimately seeking funding and approval to develop / implement (This will be Assessment 3!).

My business concept is to create a portal (website) for qualified international students that allow filling their profile (background information, academic marks, soft skills, international language exams, etc.) and in order of merit and challenges in a virtual recruitment process they can compete to gain different benefits like discounts, scholarships and financial help from international universities (at the moment some universities do it independently with poor results because is not their core business and it is not online focused).). We can monetize this social business idea with investment from governments, universities and private companies, at the end of the day universities could be benefit to gain the best talent from overseas to develop projects, researches and reputation on the industry and at the same time we can open a new windows to discover the best talent in the world.

Additional idea: If companies/ governments/ institutions from the invest in a new student they can have a priority to hire this student after graduation or the student can to contribute for a period of time working for them.

RECRUIT CONNECT AND CHANGE LIVES

Consider what it is that will attract approval and funding of your idea. What it is that makes this a great opportunity and something worth developing or progressing?

Whilst the format may vary for your plan, it must include the following:

1. CoverPage
2. Industry Background [1-2paragraphs]
3. Problem / Opportunity - description of your idea [1-2paragraphs]
4. High-level Solution [1-2paragraphs]
5. Business Model - how will you make money? [1-2paragraphs]
6. GapAnalysis
7. Competitor Analysis [use a 2-axismatrix]
8. Unique value proposition - what makes you unique, better and different from your competition
9. Ideal Customer Profile - before using your product /after
10. Total Addressable Market [use a diagram toillustrate]
11. Business ModelCanvas
12. Value PropositionCanvas
13. References

Referencing: (Minimum 7 references)

You must recognise all sources of information; including images that you include in your work. Reference your work according to the APA 6th edition guidelines

Attachment:- Business Concept Plan.rar