Management Essay

745 words - 3 pages

MGB223 Entrepreneurship and Innovation:
Assignment 1 Business concept guidelines

Due: Friday of week 5, 21 August (via Assignment Minder)
Weighting: 20%
Length: 1000-1200 words

Task:

In developing a new business venture, the process begins with recognising an opportunity from a business problem and creating a business concept that articulates it. For the first steps, the entrepreneur (1) builds a concept to solve the business challenge; (2) fashions a story that conveys the meaning of the new venture, and (3) prepares a presentation that tells the story and explains the concept to potential customers, investors and partners. After testing the concept with stakeholders, the ...view middle of the document...

)
* Identify and explain the business model/strategy, based on the assessment of the business opportunity (see textbook pp.161-172 for guidance).





Your business concept report may be structured around all three elements above or you can devise your own approach. See below for a suggested approach:

1. The business opportunity: The problem and solution
(Identify the ‘problem’ and discuss the business opportunity that may address it, showing an understanding of the particular market and potential customers.)

2. Business opportunity assessment
(This is your feasibility analysis. In this section, assess the feasibility of the business idea in relation to the following: industry/market, product/service, and the organisation and its management.)

3. Business model/strategy
(Based on your assessment of the business opportunity, explain the business model/strategy that you will use to realise the opportunity.)

Here are some questions to help GUIDE you in developing your business concept (and later when expanding it into a full business plan). Remember that your concept report is only 1000-1200 words so you don’t need to consider ALL of these questions.

* What are the key factors in determining if your idea is a viable business opportunity? Is this just an idea or a real business opportunity? Can the new product or service work?
*...

Other Essays Like Management

Management Essay

1457 words - 6 pages Examination Paper of Production and Operations Management IIBM Institute of Business Management Examination Paper Production and Operations Management Subject Code-B107    Section A: Objective Type & Short Questions (30 marks) MM.100 This section consists of multiple choice & Short Notes type questions. Answer all the questions. Part one questions carry 1 mark each & Part two questions carry 5 marks each. Part One: Multiple choices

Management Essay

1509 words - 7 pages 1. The three theories of management make assumptions about people and how businesses should be conducted on a daily basis. Within each of these theories, however there are much defined disciplines utilizing the human element. For example, the scientific method utilizes ways to revise workers task and find more efficient ways of performing the job more efficiently. While Taylor approached every task in much the same manner, he would define the

Management

673 words - 3 pages situational factors that affected the appropriate structure of organizations and the appropriate leadership styles for different situations. Although the contingency perspective purports to apply to all aspects of management, and not just organizing and leading, there has been little development of contingency approaches outside organization theory and leadership theory. The following sections provide brief overviews of the contingency

Management - 865 words

865 words - 4 pages developing alliances with other nonprofit organizations that share the same passion for helping those in need. Using outreach teams to spread the word about the services offered and the benefits derived from using the services, implementing loyalty plans that will benefit stakeholders. These are just a few of the many tactical options Peaceful Shore Community Resources and Services Incorporated management will use to build its position within the

Management - 927 words

927 words - 4 pages Mgmt paper week 3 Great leadership consists of great listening skills and engaging the ideas and viewpoints of others. To lead a successful company, such as Bank of America as I do, the ideas of both the associates and management must be taken into consideration. Good communication can serve as a helping hand in deciding what is best and needed for the company. Everyone individual who is a manager learns and demonstrates how they in their own

Management - 1330 words

1330 words - 6 pages Harvard view: management is decision-making Since 1945, the Americans "decision theory" and its application to business work, the "make a correct decision-making" has become an important business element of the process. The famous Land Law also shows: the world of bankruptcy for every 100 large enterprises, 85% due to careless decision-making caused by business managers. End of the 60s, Mintzberg (Mintzberg

Management - 5703 words

5703 words - 23 pages Strategic management is a field that involves the formulation and implementation of plans and policies that help an organization achieve its objectives. Strategic management as a professional field and discipline originated during the period of the half twentieth century, the 1950s with Igor Ansoff, Michael porter, Alfred Chandler and Henry Mintzeberg as the one of the main contributors in the development of the field of strategic management

Management - 483 words

483 words - 2 pages Global Presence Situational analysis / SWOT analysis Pricing Strategies Psychological Pricing Cost Management Compatibility / Strategize alignment Access to assets and capabilities Impact to cost, quality, delivery, Long-term profitable growth Achieve Objectives / Goals Sustainability Renewable Resources One Team Explore Innovation Technological Innovation Supply chain process Integration Place Strategies Achieve company objective with the

Management - 1433 words

1433 words - 6 pages done as an effective management technique, but more importantly, as a means to develop employees. Providing challenge and opportunity builds skill, experience, and confidence. As a result, effective leaders surround themselves with talented + and patiently listen to concerns.Managing change Effective leaders are skilled at facilitating organizational change and overcoming resistance. They do this in 4 important ways:1: By “being a role model

Management - 1655 words

1655 words - 7 pages MGMT704- Section 103 MANAGEMENT AND LEADERSHIP RESEARCH PAPER#3 Prepared for PROFESSOR EDMUND DELSOL Prepared by Smita Majumdar 300715287 March 18, 2013 After understanding the goals and achievements of the CEO of Kraft, if I had to rate Irene Rosenfeld on the scale of being authentic, I would score her 9 (nine) out of 10 (ten). Being authentic is a situation where the leader has the whole knowledge about how to dispense

Management - 3290 words

3290 words - 14 pages occupational morality of corporate managers” (p. 10). The second chapter (The social structure of corporate work) illustrates how authority relationships characterize hierarchies. For the management offspring, it is neither efficiency nor effectiveness that fuels a corporation’s operations; rather, organizational practices are coined by super- and subordination and the need to become accepted in management circles. Because of this, work “becomes

Related Papers

Management Essay 661 Words

661 words - 3 pages Etymology and Definitions The verb manage comes from the Italian maneggiare (to handle, especially tools), which derives from the Latin word manus (hand). The French word mesnagement (later ménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.[1] Some definitions of management are: Organization and coordination of the activities of an enterprise in accordance with certain policies

Management Essay 762 Words

762 words - 4 pages One of the first schools of management, the classical management theory, developed during the Industrial Revolution when new problems related to the factory system began to appear. Managers were unsure of how to train employees. A large amount of the non-English speaking immigrants or dealing with increased labor dissatisfaction caused managers to test solutions. According to Plunkett, Attner & Allen (2008) “The classical management focused

Management Essay 529 Words

529 words - 3 pages Alicia Burns ‘15 MGT 2240.02 Reaction Paper September 8, 2011 Moon Shots for Management From reading the Review Moon Shots for Management written by management guru Gary Hamel, I was able to extract various different practices businesses and companies can use and adopt in order to survive in the 21st century and how management in general is not was it was in the 19th century. The practices that were outlined in the review paints a clear

Management Essay 1699 Words

1699 words - 7 pages importance of informational roles, how informational roles affect in different levels management, and the limitation of Mintzberg’s theory among CEOs. Management role is the different behaviours that managers are expected to play in different situations. Mintzberg(1973) conclude that managers perform 10 different management roles. The 10 roles can be grouped into 3 categories: Interpersonal role(figurehead, lead, liaison),Informational role