Project 2: Opportunity Evaluation Worth 15 points, due in Week

Project 2: Opportunity Evaluation

Worth 15 points, due in Week 4 

Project Purpose

In this project, you will evaluate the idea selected in project one for its viability as a commercial opportunity. The purpose of this assignment is to develop the critical thinking and entrepreneurial mindset necessary to translate the 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 developing a comprehensive business plan for both starting and operating a business by creating your own business plan
  • 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

Instructions:

Complete the Business Opportunity Assessment Form using your selected idea from project one.

Step 1: Review the business opportunity assessment form and rubric before completing the assignment.

Step 2: Download the form and answer the questions or submit the collected data under the question. Use the form as your heading guide.

Step 3: Answer in complete sentences and make sure you are defining your terms and giving the reasons behind the conclusions that are drawn. Be thorough and clear in your analysis.

Step 4: Research all areas that require research (customer demographics, market analysis and competitor review).  Summarize the data points collected from the research when answering the question.

Step 5: Review to make sure all elements have been answered, instructions followed, writing mechanics and APA are sound.

Step 6: Create a separate Title Page (Class Name, Instructors Name, Students name and Date) and Reference Page.

I have included project one paper to provide insight and information for project 2