SBM3301 Entrepreneurship and Innovation: Business Venture

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SBM3301 Entrepreneurship and Innovation

Questions:

In this assignment, students are required to conduct feasibility study on a business venture/ business idea. A feasibility study looks at the viability of a business venture and attempts to answer two main questions: will the propose venture work, and should you proceed with it? It is carried out with an aim of finding out the workability and profitability of a business venture. Before anything is invested in a new business venture, it is important to carry out a feasibility study to understand ifthe business venture is worth the time, effort and resources. Carrying out the feasibility study on your business venture will enable you write a business plan (next assessment) and help you create a competitive advantage for your business. The feasibility report should include the following components.

 (a) Introduction/ Description of the business – this describes the product or service to be offered. 

(b) Market feasibility – This includes description of the industry, current market, anticipated future market potential, competition, sales projections and potential buyers. 

(c) Technical feasibility – This includes the details about how you deliver your product or service, including location of business, issues of material, labour, transportation and technology required. 

(d) Financial feasibility – You need to project how much start-up capital you will need and examine potential sources of capital and returns on investment. 

(e) Organisational feasibility – This includes the legal and corporate structure of the business. You can also include the professional background information about founders of business and what skills they can contribute to the business. 

(f) Conclusion – you should conclude with how you envision the business to become successful. 

Report Structure: It is suggested you use the following sections and headings to structure your research report.

• Report preliminaries: Title page, executive summary, table of contents.

• Report preliminaries: Title page, executive summary, table of contents. 

• Introduction: Provide a brief description of the purpose and aim of the report. Describe the product or service to be offered and outline the nature of the industry applicable business venture.

 • Body: In the body of the report, present market, technical, financial and organisational feasibility.

 • Conclusion: you should conclude with how you envision the business to become successful by linking the findings presented in the body.

 • References: List all the references referred in the report using Harvard style of referencing.

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