Opportunity Analysis New Venture
The Assessment Task
You are required to produce an Opportunity analysis for a new venture. Please use the template below and answer all the sections.
Writing an Opportunity analysis (or feasibility study) can help finalise your business idea, and to check it against the initial perception of the marketplace. Feasibility study is a first draft of ‘nature of the business’ proposal that can allow further investigations and calculations to be based.The maximum word limit for this assessment is 1600 words (excluding appendices).
1. BUSINESS OVERVIEW
Include key information points regarding your venture (write a short summary of a proposed venture including some details regarding your product or service, the industry, customers, and competition). (Approx. 200 words)
2. PERSONAL ANALYSIS
Carry out an analysis of your own strengths (S) and weaknesses (W) as an entrepreneur. What skills and experience will you bring to the new venture? (Approx. 200 words)
3. INDUSTRY AND MARKET RESEARCH
3.1 PESTEL – Carry out a detailed PESTEL analysis to assess opportunities and trends arising from changes in the environment. Include evidence of your statements (citations), use appendix for the full analysis and write conclusions of the analysis within the main text. Focus on the most relevant components.
3.2. Competitors – Carry out the analysis of competition. What is your USP and value proposition? What is your key differentiating factor?
Compare your new venture to main competitors (consider competitors’ strengths and weaknesses; identify how you will position yourself; decide what is your basis of competition, i.e., cost/differentiation).
3.3 Market – Describe your target market, segment it, and add information about its size with supporting evidence. If possible, carry a test trading or a survey to validate your idea (add survey tools to the appendix) and write main findings within the main text.
3.4 Other analysis – Carry out other analysis that will add key information to your industry and market analysis. Here are some tools you might consider using: Porter’s 5 Forces Model, CANVAS, Blue Ocean Strategy, Porter’s Generic Strategies/Bowman’s Strategy Clock, Four Cs-company/customers/competitors/collaborators, 4Ps of marketing, and SWOT/TOWS. Focus on the most relevant(s) for your business idea. Use appendices for the full analysis and write conclusions of the analysis within the main text.
Remember to support this section and related appendices with data and references to validate the business potential. (Approx. 900 words)
4. GROWTH POTENTIAL
Compare your new venture to the future business you want to have.
How do you see the company growing (generating larger profits, expanding its workforce, and increasing production) in the future? (Approx. 100 words)
5. CAPITAL REQUIREMENTS AND FORECAST (1st year)
Identify your start-up capital (the money you need to start up your new company) and possible funding options. Project your sales for the first year and include a realistic Profit and Loss statement for 1st year. (Approx. 200 words)
NB: Please include a list of references using UON Harvard referencing style, any details of primary research, and applications of models and frameworks. You can include up to 5 pages of appendices. Appendices will not contribute to the grade, therefore when showing your analysis in appendices, don’t forget to add a conclusion/reflection about it in the main text.
Word Limits (where appropriate)
The maximum word limit for this assessment is 1600 words.
Where a submission exceeds the stipulated word limit by more than 10%, the submission will only be marked up to and including the additional 10%. Anything over this will not be included in the final grade for the assessment item. Abstracts, bibliographies, reference lists, appendices and footnotes are excluded from any word limit requirements.
Where a submission is notably under the word limit, the full submission will be marked on the extent to which the learning objectives have been met.
The learning outcomes that are being assessed in this assessment are:
Select and apply academic literature, industry sources and models to examine and analyse markets and industries to identify opportunities for the development of a new business venture.
Demonstrate the capacity for original thinking through the identification and evaluation of an unexploited market opportunity.
Your grade will depend on how well you meet these learning outcomes in the way relevant for this assessment. Please see the final page of this document for further details of the criteria against which you will be assessed.