Innovation and Entrepreneurship
ENT 6800
Instruction about structure of Assignment 2 (2,500 words; individual assignment as a Business Plan 50% of the course assessment weighting)
You are required to develop a business idea for a start-up business in London and develop a brief business plan. In this business report you are expected to be creative, original, realistic and apply theoretical knowledge of entrepreneurship and evaluate different approaches.
1. Executive Summary – a short summary of the business plan. (200-300 words and 0ne/two references)
2. Start-Up Business Idea (Product / Service) – explain the details of the product or service you will provide. (200-300 words and 0ne/two references)
3. Industry Profile – current industry demand and statistics on your market. (200-300 words and 0ne/two references)
4. The Business Model – illustrate how to generate profit and the cycle of business for your idea. (200-300 words and 0ne/two references)
5. Point of differentiation – how is your company different from other companies with similar products? (200-300 words and 0ne/two references)
6. Challenges to the Business Idea: – discuss a few anticipated challenges in your venture. (200300 words and 0ne/two references)
7. Prospective Customers – discuss the ideal and prospective customer for your product / service. (200-300 words and 0ne/two references)
8. Brief Marketing Plan – discuss the positioning in the London market and the 4-Ps. (200-300 words and 0ne/two references)
9. Competitor Analysis – highlight three current competitors already present in your market. (200-300 words and 0ne/two references)
10. Sources of Funding – discuss 2 sources of funding to support your idea. (200-300 words and 0ne/two references)
11. Intellectual Property – discuss your approach in protecting your business idea. (200-300words and 0ne/two references)
Appendix – any diagrams and additional information