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!