MGNT943 - Business - Business Innovation Plan - Report Assessment

Assignment Task:

The idea is to design and construct a new platform that links the management of the wedding and Functions Avenue with the clients in Alrydh city in Saudi Arabia.

Why select the idea:
1. I have a flower shop in The al ryd city which is a very big city and there is a good opportunity for this project to be succeed so I have good connections.
2. There are only 2 applications which are available in the market there for functions and weddings avenue booking.

Introduction

• What is the opportunity you have identified?

• What is the problem you are trying to solve? Why is it important?

• Who is affected by it?

• What is your proposed solution?

• Be specific

• Make it interesting so the reader wants to read on and know more This is your chance to impress!

Market Research

• What is the market for the solution you have identified? E.g. size, segments, possible substitutes.

• How much of this market do you think you could capture in the first year? In five years? Why?

• What will you charge and how? (e.g. one-off sale or subscription)

• How are you going to sell your product or service?

Technical and other Resources

• What are the potential challenges?

• Is your idea patentable?

• What resources would you need

• What are your rough estimates of costs Initial and on-going?

Financial Summary

• Given your potential sales and costs, what are your initial forecasts for the first five years?

• How much investment will you need?

• What sources of finance are you considering?

Social

• Is this a social business? Does it have potential for social good?

• How will you address sustainability and community expectations?

• Which of the UN Sustainable Development Goals are relevant?

Legal

• What sort of legal structure will you use for your company?

• What governance structure would be appropriate?

Recommendation

• Given what you have found out,

• do you recommend going ahead with the opportunity

• or pivot

• Or try something completely different?

• Remember to justify your recommendation

Conclusion

• Summarise the opportunity and recommendation

• Make it interesting for the reader

• This is your last chance to impress!