Reference no: EM132157405
Assessment -
Problem Identification: Entrepreneurial problem that needs solving and/or the reason the innovation is required is effectively explained.
Benefits Generated: Persuasive argument of the benefits to be generated by the idea.
"Proposed Business Model: Discussion of the proposed business model".
Critical Success Factors: Critical success factors to be managed during execution of the idea.
Evaluation of Feasibility: Evaluation of the feasibility of the idea.
For each item, circle the most appropriate answer -
Part I: Strength of Business Idea
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Low Potential (-1)
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Moderate Potential (0)
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High Potential (+1)
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1. Extent to which the idea:
- Takes advantage of an environmental trend
- Solves a problem
- Addresses an unfilled gap in the marketplace
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Weak
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Moderate
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Strong
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2. Timeliness of entry to market
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Not timely
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Moderately timely
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Very timely
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3. Extent to which the idea "adds value" for its buyer or end user
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Low
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Medium
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High
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4. Extent to which the customer is satisfied by competing products that are already available
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Very satisfied
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Moderately satisfied
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Not very satisfied or ambivalent
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5. Degree to which the idea requires customers to change their basic practices or behaviors
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Substantial changes required
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Moderate changes required
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Small to no changes required
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Part 2: Industry-Related Issues
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Low Potential (-1)
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Moderate Potential (0)
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High Potential (+1)
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1. Number of competitors
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Many
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Few
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None
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2. Stage of in ustry life cycle
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Maturity phase
or decline phase
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Growth phase
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Emergence phase
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3. Growth rate of industry
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Little or no growth
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Moderate growth
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Strong growth
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4. Importance of industry's products and/or
services to customers
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"Ambivalent"
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"Would like to have"
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"Must have"
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5. Industry operating margins
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Low
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Moderate
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High
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Part 3: Target Market and Customer-Related Issues
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Low Potential (-1)
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Moderate Potential (0)
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High Potential (+1)
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1. Identification of target market for the proposed new venture
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Difficult to identify
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May be able to
Identify
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Identified
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2. Ability to create "barriers to entry" for potential competitors
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Unable to create
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May or may not be
able to create
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Can create
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3. Purchasing power of customers
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Low
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Moderate
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High
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4. Ease of making customers aware of the new product or service
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Low
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Moderate
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High
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5. Growth potential of target market
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Low
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Moderate
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High
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Part 4: Founder- (or Founders-) Related Issues
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Low Potential (-1)
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Moderate Potential (0)
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High Potential (+1)
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1. Founder's or founders' experience in the industry
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No experience
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Moderate experience
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Experienced
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2. Founder's or founders' skills as they relate to the proposed new venture's product or service
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No skills
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Moderate skills
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Skilled
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3. Extent of the founder's or founders' professional and social networks in the relevant industry
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None
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Moderate
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Extensive
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4. Extent to which the proposed new venture meets the founder's or founders' personal goals and aspirations
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Weak
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Moderate
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Strong
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5. Likelihood that a team can be put together to launch and grow the new venture
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Unlikely
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Moderately likely
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Very likely
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Part 5: Financial Issues
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Low Potential (-1)
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Moderate Potential (0)
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High Potential (+1)
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1. Initial capital investment
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High
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Moderate
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Low
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2. Number of revenue drivers (ways in which the company makes money)
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One
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Two to three
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More than three
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3. Time to break even
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More than two years
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One to two years
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Less than one year
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4. Financial performance of similar businesses
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Weak
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Modest
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Strong
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5. Ability to fund initial product (or service) development and/or initial start-up expenses from personal funds or via bootstrapping
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Low
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Moderate
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High
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Each part has five items.