For this assignment, you will be continuing to develop a business plan. For Module 1 you came up with two or three ideas, but for this assignment, narrow yourself down to one idea. You have now read up more on how to identify a good business opportunity, so use what you learned from the readings to help narrow down your ideas and assess which of your ideas from your Module 1 SLP has the most promise.
Make sure to carefully apply the concepts of the unique value proposition, market segmentation, and SWOT analysis in your paper. The Pearson tutorials plus Blackwell (2011) and McKeever (2015) are especially important to review carefully before starting on your paper.
Once you have decided on what kind of business you want to start and have carefully reviewed the tutorials and background readings, write a three-page paper addressing the following issues:
- A detailed description of the environment your business will face, including the precise market you will be targeting. Use the Pearson tutorial on market segmentation as your guideline for this section.
- A SWOT analysis of your business idea. For threats, make sure to include a discussion of your main competitors.
- Overall, what do you think the main unique value proposition of your business (competitive advantage) will be? Think about it carefully and explain your reasoning.
SLP Assignment Expectations
- Answer the assignment questions directly.
- Stay focused on the precise assignment questions; donâ€™t go off on tangents or devote a lot of space to summarizing general background materials.
- List supporting references and cite sources in proper format.
- Use appropriate writing style in essay form (organization, grammar, and spelling).