Professional Documents
Culture Documents
Introduction
The Opportunity Analysis Project (OAP) allows students to leverage the many tools that they
have learned so far in the course. By Session 11A/11B, study teams will develop a 3-page
“story” and narrative regarding the OAP. During this session, student team should pick an
idea and use the time in class to determine whether or not their idea is a true opportunity
that can be turned into a scalable enterprise. You will make a presentation to your peers and
develop a corresponding written report on your analysis and learning from contacting users,
customers, and partners.
2. Define your purpose and objectives. Identify your most promising opportunity, being
careful to discriminate between an interesting technological idea and a viable market
opportunity. Prepare an outline which will help you to determine what types of data
and information you need to demonstrate the attractiveness of your chosen
opportunity.
3. Gather data from primary sources. It is crucial for you to obtain data from primary
sources. Potential investors will place more trust in well conducted primary research
than in stacks of data from secondary sources. There is simply no substitute for
talking to potential customers from the target market in order to validate the
opportunity you have identified. Consequently, we prefer that you spend time
gathering data from primary, not just secondary, sources. Past teams have found
Survey Monkey to be helpful in gathering primary data. The basic service is free and
provides most of the features you’ll need. Visit Survey Monkey at
www.surveymonkey.com
4. Gather data from secondary sources. Countless secondary sources exist on the web
and in various library resources. Try not to get too bogged down in financial and
accounting data.
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BUS 2403 Fundamentals of Innovation & Entrepreneurship Project 02
5. Analyze and interpret the results. Persuasively summarize your results. A key success
factor for a successful project is the depth of your analysis and what you learned from
it. If, after careful research, you have determined that your business idea is not as
promising as you originally thought, it is acceptable to present an OAP that describes
why your idea will not make sense now rather than why it is the next big thing. An
honest, rigorous analysis of an idea that did not survive further scrutiny is preferable
to either (a) a half-baked presentation of an idea your team is unsure of, or (b) an
enthusiastic job of over selling your current idea, even though you know it is
problematic.
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BUS 2403 Fundamentals of Innovation & Entrepreneurship Project 02
illustrates the opportunity? Project the potential market size and growth for your
opportunity.
Grade Scale
Minimum Above
Unacceptable Satisfactory Outstanding
requirements requirements
0 – 59 65-74 85-100
60– 64 75-84
Largely free of
Most Clear, well-explained,
Significant errors,
Errors so information error-free work
errors, demonstrates
significant is correct and demonstrating critical
information critical thought
that the work well- thinking, with clear
mostly with well-
is not passing presented, evidence of
unclear or explained
quality with few independent work and
incorrect coverage of all
errors authentic research.
topics.
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BUS 2403 Fundamentals of Innovation & Entrepreneurship Project 02
Grading Rubric
Marks
Report Contents Comments
Awarded
1. Concept and Vision (10%)
Student clearly identifies a theme and describe the specific issue
(problem or area for improvement) linked to the theme.
Student describes a product, service, or process linked to the /10
issue they want to resolve.
Student outlines a brief description of limitations to current
specification, functions, uses, and benefits if improving an
existing product/service.
2. Generating Knowledge and Awareness (10%)
Student demonstrates awareness of the theme.
Student highlights how they increased knowledge of the /10
issue.Student tests their (OAP) idea by talking to at least ten
potential users, customers, and partners, document these
discussions, and share what they learned
3. Generating Ideas (10%)
Student applies at least two of the Tools & Techniques to
actively generate ideas (Brainstorming, Analogy, Attribute
Analysis, Gap Analysis, and Why-Why-Why Analysis). /10
Student presents findings and outputs from the activity (in
appendices if necessary) and analyses the findings and outputs in
the body of the report.
4. Approach to Innovation (10%)
Based on the idea generation outputs and findings, student
proposes how to innovate a product, service, or process.
Students details which aspects of the product, service, or process
to change and why. (Specify Schumpeter’s ‘Type of Innovation’
(e.g. new or improved, new process, new market, new materials, /10
etc.)’; add images, sketches, diagrams, or graphs to illustrate
point).
Describe how your proposed innovation would change the
application (function / benefit / uses / users, etc.) of the product,
service, or process.
5. Limitations (10%)
• Student classifies and rates at least three potential risks or /10
limitations to the implementation of the proposed innovative
concept, and suggests mitigation.
6. Market Analysis (10%)
Student discusses the industry and sector of the economy they
are addressing. /10
Student addresses market size, segmentation, growth for their
opportunity
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BUS 2403 Fundamentals of Innovation & Entrepreneurship Project 02
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Part B: Pitch / Presentation – worth 100 marks.
You will in this part do a “dragons den” style pitch that will last no more than 5 minutes. The
pitch will be presented to the class / your team, who will then be given the opportunity to ask
questions and give feedback, as well as questions from your assessor.
Marks will be awarded as follows: The content requirements and marks awarded will be as
follows:
2. Understanding
Demonstrates a thorough
Product description Product description has
understanding of the product, and its
and benefits were insufficient information.
benefits. Product description is clear
covered but needed Product benefits were not
and concise. Product benefits
elaboration. covered.
summary is clearly presented.
10 9 8 7 6 5 4 3 2 1
10 9 8 7 6 5 4 3 2 1
4. Idea Generation
Idea Generation usage
(Schumpeter/Discontinuous One Idea
Idea Generation theories
Innovation, Brainstorm, Analogy, Generation theory
were not applied.
Gap Analysis – at least two should be was applied.
presented for minimum marks).
10 9 8 7 6 5 4 3 2 1
5. Marketing Mix
Student demonstrated that
they have conducted Student Identified two Did not mention marketing
marketing research and research techniques and its research or the 4Ps and its
showed the ability to tie results, then discussed how impact on the business
these results to the business the research was conducted decision-making.
opportunity and its and linked to the marketing Inappropriate or inadequate
competitive advantage mix (4Ps) - (i.e. primary / responses.
through the marketing mix secondary research methods).
(4P’s).
10 9 8 7 6 5 4 3 2 1
7. Pricing Strategy
Student explained pricing Student explained pricing Did not mention pricing
strategy and initial pricing strategy but did not cover strategy or pricing
estimates with justification pricing estimates estimates
10 9 8 7 6 5 4 3 2 1
8. Presentation Skills
Student is not reading, has Student made eye contact
Student was not prepared
clear eye contact, and is every now and then, but
and lacked self-confidence.
clearly prepared. needs more preparation.
10 9 8 7 6 5 4 3 2 1
9. Business Model
Student discusses how they Student touches on some
will turn idea into business, aspects of the business model Business model and
how they will make money, and isn’t realistic about the profitability were not
when they will be making money or addressed at all.
profitable. profitability of the business.
10 9 8 7 6 5 4 3 2 1