For the assignment purposes, students are required to develop a comprehensive business plan that imbibes the essence of innovation and entrepreneurship. While developing the business plan students are required to keep the following points in mind: Choice of product or service Identification of market gap Market and environmental scanning and analysis. Competitor analysis Consideration of Innovation and industry life cycle Forecasting tools Challenges and suggestions to address if found
For the assignment purposes, students are required to develop a comprehensive business plan that imbibes the essence of innovation and entrepreneurship. While developing the business plan students are required to keep the following points in mind:
Choice of product or service
Identification of market gap
Market and environmental scanning and analysis.
Competitor analysis
Consideration of Innovation and industry life cycle
Forecasting tools
Challenges and suggestions to address if found
A business plan can be indicated as a document that contains the details regarding the core operations of the business and the central objectives are written down in the business plan. Strategies to achieve those goals and the time frame in which those goals are expected to be achieved are mentioned.
Every business creates a business plan to present before the investors and get them attracted to invest in their business. These investors have to evaluate every aspect of the business and analyze the viability of investing in a particular business.
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