MGT801 Entrepreneurship and Innovation

You’re required to draft a comprehensive new venture business plan utilising concepts discussed during this course from theories and concepts. The business plan provides a clear and coherent outline of the new venture, the resources needed to establish it, its expected financial returns, a pitch for financial backing and a plan for setting it up.

The business plans will:

• Identify and clearly describe a new business opportunity (based on member resources, skills and networks as well as identified gaps in the market)

• Review and describe the motivations of the proponents of the new business

• Research and analyse the dynamics of the context in which the new business will operate, including competitive dynamics

• Research and analyse the market potential for the new business opportunity

• Develop and describe an innovative business model and strategy for developing a viable, ongoing business based on the identified opportunity

• Develop a marketing strategy for the new business

• Develop and operations strategy for the new business

• Analyse resource requirements for establishing the new business

• Develop financial projections, including start-up costs, cashflow forecasts, P&L and balance sheets for the new business over its start-up phase

• Research and identify potential sources of finance

• Estimate the value of the new business, develop a financing proposal and develop an offer structure and a harvest/exit plan for the new venture

• Develop an action plan for the set-up year and the following two years.