Weight: 50 %
Entrepreneurial business plan Report 35%
Due: week 12
Group Presentation 15%
Due Week 12/13
Students will form themselves into groups (not more than four persons). Groups are required to make a 20 minute presentation, followed by 10 minute question and answer session. Each presentation will be based on the creation of a new Entrepreneurial Idea accompanied by a complete Situational Analysis (this is further explained below). The Situational Analysis requires groups to: (i) gather information from a variety of sources, (ii) assess the quality and appropriateness of the information, (iii) use the information from the course, associated readings and research to make a structured and logical analysis in the form of a Condensed Business Plan (and presentation).
The Task (Overview):
The assignment and oral presentation will be delivered as a Condensed Business Plan. Market details will be based on actual market research which the group has undertaken over the length of the semester. This market research may be either of a primary or secondary nature (or both). The method must match the requirements for the proposed business venture. It is expected that groups will undertake actual and realistic steps to complete their plan.
The Condensed Business Plan will consider the creation of a realistic new tourism innovation . Groups will create a brand,name and a marketing image to match their target market segment. The Plan MUST identify a real market segment and demonstrate an understanding of its needs, wants, and willingness and ability to pay for the proposed tourism product/service. The product/service and its proposed distribution/availability must be in congruence with the market segment data. The Plan may or may not demonstrate profit potential. Groups are expected to be honest and accurate in the sales and profit estimates. The Plan MUST be unique and demonstrate how the product or service will penetrate the market and compete with any existing products/services for at least the first two-three years of operation.