Determine the feasibility of his business idea in us market

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Reference no: EM133732455 , Length: Word Count: 1900 Words

Assignment: Passion for Social Change & Innovative Solutions Essay- Business Management & Entrepreneurship

Length: Guide 1900 to 2000 Words.

Learning Outcomes

I. Analyze the key trends and elements of global tourism and hospitality industries.
II. Critically reflect on the underpinnings of entrepreneurship and intrapreneurship.
III. Critically review and apply the criteria used to evaluate business potential.
IV. Appraise the nature of social entrepreneurship.
V. Evaluate the critical aspects of creating a new venture.
VI. Critically review theories and strategies used in business decision making and apply to problem solving.

Case Study: Bluestone Lane.

Question I

In this lecture you were asked to come to class with an overview of an entrepreneur you have identified. Given the characteristics identified the lecture, explain why you believe this individual can be termed an entrepreneur. Draw on a minimum of 4 characteristics and use examples as evidence.

Question II

Social entrepreneurship is exercised where some person or group: aim(s) at creating social Value. What do you believe are the drivers of social entrepreneurship - a minimum of 3 and the reason for the current interest in the phenomenon in hospitality organizations?

Question III

We have explored, sources of opportunity and mapping your value proposition. Determine and discuss 3 possible factors for determining the feasibility of a new venture and explain what is meant by a value proposition.

Question IV

Define Intrapreneurship and explain how Intrapreneurship can be a pathway to entrepreneurship for an individual.

Question V

Explain the concepts of Lean Design Thinking and Lean Marketing and identify 3 benefits for each in bringing a venture or concept to fruition.

Question VI

Apply the theory of opportunity identification to Nick Stone's ability to see an opportunity gap in the New York market. What was the opportunity he identified.

Question VII

What research methods did Nick Stone apply to determine the feasibility of his business idea in the US market? Identify and explain three things he researched and what his findings were.

Question VIII

What is Bluestone Lane's value proposition, what benefit does the business deliver to the customer? To complete these questions read & review the following article: "How Success Happened for Nicholas Stone, Founder of Bluestone Lane" by Robert Tuchman Edited by Dan Bova.

You are also invited to do independent research on Bluestone Lane to complete this task. Make sure your reference list reflects all sources applied.

Reference no: EM133732455

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