BUSINESS PROPOSAL FOR COMMERCIALISING AN INNOVATIVE PRODUCT OR SERVICE Develop a business proposal for commercialising an innovative product or service. The proposal must be for either a startup or expansion of an existing business in the New Zealand context. Please read the instructions provided under each section. The assignment must have a business format, clear structure and accurate content. BUSINESS PROPOSAL COMPONENTS AND STRUCTURE Section 1: Executive Summary The executive summary must provide a clear and relevant explanation of what your company does, products or services you provide, market highlights, and the likely profit from the business. 5 Marks (LO3) Total: 5 Marks Section 2: Business Description The business description needs to give a concise and direct description of your business. It must be an overview of what your business is, what it does and why it is innovative. 2 Marks (LO1) 5 Marks (LO3) Total: 7 Marks Section 3: Market and Environmental Analysis Identify the market needs and describe who your customers are or will be. Are they individuals or business? What are the characteristics, location or other common traits? Who are other stakeholders of your business? Competitors must be identified. Who and what are your competitor’s strategies in market, sales and operations? Innovation and Entrepreneurship involves creative thinking and input. Identify clearly your creative contribution and what your competitive advantage will be. 4 Marks (LO1) 4 Marks (LO4) Total:8 Marks Section 4: Financial Aspects Describe how much your business proposal will cost. Describe the past, current, and future fiscal side of your business. Are you expecting to make a profit? how much? In case of making loss, how would you reduce the negative consequences? 4 Mark (LO1) 4 Marks (LO4) Total: 8 Marks Section 5: Business Model Canvas Complete the business model canvas for your business. Use the template provided in this document. 10 Marks (LO1) 2 Marks (LO4) Total: 12 Marks New Zealand Diploma of Business L7 Innovation and Entrepreneurship Page 4 DUE DATE The final Business Proposal must be uploaded on Moodle to be checked with turnitin before 12 Midnight of May 20, 2017.
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