Individual Project: Report 1

Assignment 1A: Business Ideas Planning

• Weight ungraded but required
• Due later than 11:00 p.m. on Sunday of unit 2 but submitted as part of report 1 in unit 6

Objectives

On successful completion of this assignment, students should be able to

• define the business plan in terms of a product/service description,
• identify the potential target market,
• identify the benefits of the product/service, and
• create a concept statement and survey three peers on the business idea.

Brief Description

The purpose of the first assignment is to provide you with a vehicle to explore possible business ideas and to select a business to develop through the course. This will be the first step toward building a comprehensive business plan that you could use in starting your business.

Submission Instructions

Provide a 500-word response ranking your three ideas based upon the environmental trend scan exercise. Select the one business idea you intend to pursue this semester. See https://www.ibisworld.com/canada/list-of-industries/ for sources of information and you may use other databases. You will receive feedback from the instructor on your submission. In unit 6 you will be resubmitting this as Part 1 of your project.