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Entrepreneurship Innovation Plan

Entrepreneurship Innovation Plan. Purpose.

cameron-bullock
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Entrepreneurship Innovation Plan

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  1. Entrepreneurship Innovation Plan

  2. Purpose The Entrepreneurship Innovation Plan involves the idea generation and opportunity recognition needed to take advantage of market opportunities to introduce a new business, product or service. Any type of business, product or service may be used.

  3. Procedure Students will present a brief concept paper (up to 5 pages) and an oral presentation (up to 15 minutes in length) explaining the opportunity that exists in the marketplace and how their innovation will meet the needs of consumers.

  4. Project Outline I. EXECUTIVE SUMMARY One-page description of the plan II. PROPOSED BUSINESS/PRODUCT/SERVICE A. Explanation of business/product/service proposed B. Description of the opportunity that exists (What need does the product/service fulfill? What challenge does the product/service solve?) C. Description of the target market III. RATIONALE AND FEASIBILITY A. Trend—What trend is occurring which suggests the proposed business/product/service will be marketable? B. Differentiation—What is the unique selling proposition? C. Potential 1. What is the potential reach of the proposed business/product/service? 2. What is the growth potential? 3. What is the earning potential? IV. CONCLUSION Specific request of financing and summary of key points V. BIBLIOGRAPHY

  5. At the conclusion of your presentation, you will be asked to respond to three questions based on the following: Conclusion Question on recognizing the business opportunity Question on the trend(s) that influenced the recognition of the opportunity Question on the potential of the business, product or service

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