Introduction:
After coming up with some ideas for a new business, entrepreneurs then screen those ideas to find the best idea. Finally, they perform a feasibility analysis to determine the viability of their business idea before they begin a business plan. You practiced with feasibility analysis concepts in the Learning Activity.
Instructions:
Your Journal entry should be composed in a Microsoft®Word® document and submitted to the Journal Dropbox. Your entry should be a minimum of 250 words, double-spaced, in Times New Roman 12-point font.
As preparation for your Assignment in Unit 2, develop and describe your own startup business idea and then conduct a brief feasibility analysis by considering all of the following: (1) market potential, (2) industry attractiveness, (3) new venture leadership. Refer to Chapter 3, Exhibit 3.7, pages 86–89.
Checklist: Provide the following information in your short feasibility analysis:
• State your business idea.
• Market potential: Briefly explain your market.
• Explain lasting potential for the business in the long term in the industry, considering competition.
• Describe the leadership team: Are you or the leadership team equal to the task? Explain.
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Unit 1 Journal Grading Rubric |
Percent Possible |
Points Possible |
Points Earned |
|
Criteria: |
100% |
25 |
|
|
Specific Paper Objectives: Addresses the Assignment Checklist (80%) and demonstrates analysis and critical thinking: |
80% |
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• States his/her startup business idea. |
5 |
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|
• Market potential: Briefly explains his/her market. |
5 |
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• Explains the lasing potential for the business in the long-term in the industry, considering competition. |
5 |
||
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● Describes the leadership team and explains if they are equal to the task. |
5 |
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Subtotal: |
20 |
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Writing Style, Grammar, APA (20%) |
|||
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Grammar and spelling are correct. |
3 |
||
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Writes a minimum of a 250 words in a Microsoft®Word® Document |
2 |
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Subtotal: |
20% |
25 |
|
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Total Assignment Score: |
100% |
Total Points Possible: 25 |
Total Points Earned: |
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