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With this journey nearly complete, you are now ready to conclude with The Opport
With this journey nearly complete, you are now ready to conclude with The Opportunity Analysis Canvas to identify and analyze an entrepreneurial idea in the Final Project. In this term project, you will individually integrate and apply your knowledge to develop a new Opportunity Analysis Canvas for yourself by responding to the provided questions. Focus on an opportunity for which you can develop and launch a product within the next 12 months. Your solution should leverage your skills and relationships, and require initial funding of no more than $25,000 to bring the product to market.
Be sure that if you are proposing a hardware or software solution requiring technical expertise, that you presently have this expertise or have a feasible plan for development based on the principles discussed in the course and the $25,000 funding limit for this assignment.
The assignment is not simply to come up with a new product idea, then answer the questions. Instead, use The Opportunity Analysis Canvas as a guide for identifying your new product idea. As discussed in the Modules, explore each of these topics in turn: industry conditions for an industry that interests you, industry status, macroeconomics to include your target market, competition, value innovation, and the elements of opportunity identification. Then answer the questions based on your understanding of these topics.
For questions 5 through 10, be sure to include in-text citations. for each response that aligns with your references to support your analysis for this question.
There should be at least 10 unique reference sources (i.e. 10 different articles, reports, etc.). While you may repeat a citation (i.e. reference one report multiple times), referencing one report multiple times counts as one citation.
As these references should be specific to the industry, competitors, market, etc. for your new venture, do not include the textbook, articles, lectures, or lecture slides from the course as references.
Also be sure to include a breadth of references; at least ten different references should be used in this project.
In-text citations do count as part of the word limit.
In your response to question 11 at the end of this assignment, list the full reference in APA format
Be sure to stay within the word count limit of 220 words for responses 1 to 10. Responses that exceed this word count will be graded as a 0. The word count does not include the question or the reference. The word count does include in-text citations. There is no word count limit for the references page in response 11. This approach aligns with how competitions, grants, awards, etc. are evaluated for startup companies as applications that do not meet the word or page limit requirements are typically not accepted for evaluation.
Questions to respond (please return back to me in a word doc)
1. Based on your evaluations on entrepreneurial mindset, summarize your level of need for achievement, individualism, control, focus, and optimism. What strategies and tactics could enhance these in the next 6 months?
2. Based on your evaluations on entrepreneurial motivations, summarize your level of self-efficacy, cognitive motivation, and tolerance for ambiguity. What strategies and tactics could enhance these in the next 6 months?
3. Based on your evaluations on entrepreneurial behaviors, summarize your confidence, risk tolerance, interpersonal relationship skills, and social capital. What strategies and tactics could enhance these in the next 6 months?
4. Describe an innovative business idea that you have that is the basis for the rest of these Opportunity Analysis Canvas questions.
*Remember* For questions 5 through 10, be sure to include in-text citations. for each response that aligns with your references to support your analysis for this question. More info about this earlier in the instructions.
5. For your business idea, what are the knowledge and demand conditions related to this idea.
6. For your business idea, what is the life cycle stage of your industry, and the existing industry structure.
7. For your business idea, what are the demographic, psychographic, technical, and societal changes as well as the political and regulatory forces in your industry.
8. For your business idea, what factors you can your team eliminate, reduce, raise, and create. Describe why the factors that you selected for the value curve are important to customers.
9. For your new business idea, discuss how the learning curve influences your success, the complementary assets that are critical to develop for your venture, and the reputation of your competitors.
10. For your new business idea, summarize why the problem is real, how your team’s solution creates value for stakeholders, the types of advantage that you all possess, and your ability to build the right team.
11. List the references used for this analysis in APA format
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