The Role Of Business Entrepreneur Report Assingment Help With Solution
You are required to adopt the role of a business entrepreneur and provide a 2,000 report that creates, develops and evaluates a business opportunity in light of one of the scenarios presented in the presentation. You may wish to structure the report in the following way:
Creating a potential business product or service
Develop a potential business around the product/ service
Evaluate the business in light of industry scenarios
A summary of the chosen scenario as well as the business opportunity created to take advantage of that scenario. It will also highlight the purpose of the essay as well as an outline of the overall structure of the essay.
Here, you will be required to create and justify a product or service that has the potential to succeed in your chosen industry scenario. This may be done in two steps. The first is to use a combination of creative thinking techniques to create the product or service. These may include the following: embodied metaphors; industry analogies; and creative fictional prototypes. Since each scenario will be different, the exact combination of these techniques will differ from report to report. However, you should attempt to create a product and service that is original, realistic, and within the given timeframe of your chosen scenario. The second step is to demonstrate how your product or service fits with the chosen scenario.
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Here you will develop a potential business that can deliver the product or service created in the previous section. There are many ways of doing this but you may want to use techniques from business model innovation to develop the following: revenue model (including: product/service offering; price/ funding model; value proposition); enterprise model (including: corporate philosophy; organisational culture and organisational structure); industry model (including: horizontal moves; redefining industries; new industry segments). However, you will have to ensure that all of the models are aligned, based upon analysis, and are adaptable.
The final task is to evaluate the business created in the previous section against all of the industry scenarios developed in the group presentation. This will comprise two stages. The first is to demonstrate the robustness of the business by justifying how it fits with the scenario chosen for this report. The second is to demonstrate the resilience of the business by highlighting the risks that would occur should the other scenarios happen and showing the ways in which these risks would be managed.
Here is my proposal/initial idea
Based on the huge demand in the market, I have decided to establish a hostel to cater the rental market need. Overseas students, in-work teenagers, fresh graduates, single-livers and overseas visitors would be my target customers. First time buyers (FTB) would be the main target customers, hopefully, around 60% of the hostel units will be rent out to FTB. According to the study, most of the FTB do not have enough savings, but would like to have their own house and no need to stay with parents. Second, would like to have 25% of customers from overseas students. And 15% will be rent out to overseas business visitors. It is because overseas students normally will only stay from Sept to June each year. In this regards, we can expand our target customer. Both FTB and overseas students can guarantee a stable and long stay income. On the other side, overseas business visitors can fill-up the vacancy during the non-peak seasons and it is flexible.
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