Evaluating the commercial viability of a business idea

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Reference no: EM133729056

Project Purpose

In this project, you will evaluate the idea selected in project one for its viability as a commercial opportunity. Just because the idea sounds good to you doesn't mean it will make money. The purpose of this assignment is to analyze the idea for its commercial viability. Using the feasibility outline you will collect data, apply evaluation tools (Porter's Five Forces) and to translate your 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 evaluating the commercial viability of a business idea.

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.

Reference no: EM133729056

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