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Preliminary Business Plan (Written report): 25 Initially you will individually devise an idea for an innovative project from the lectures on “Sources of Innovative Opportunity” (Week 2-5) You will

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Preliminary Business Plan (Written report):         25 
Initially you will individually devise an idea for an innovative project from the lectures on “Sources of Innovative Opportunity” (Week 2-5) 
You will form into groups of four.  Your group select  the best of the individual ideas for development  of it as a business model. All such business opportunities need to be defined by a business plan, for two reasons: 
1.To prove to a potential financier that the business venture is financially viable.&...

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Question Preview:

Preliminary Business Plan (Written report):         25 
Initially you will individually devise an idea for an innovative project from the lectures on “Sources of Innovative Opportunity” (Week 2-5) 
You will form into groups of four.  Your group select  the best of the individual ideas for development  of it as a business model. All such business opportunities need to be defined by a business plan, for two reasons: 
1.To prove to a potential financier that the business venture is financially viable. 
2.To act as a blueprint for the management team in establishing the business and developing it for the next three years. 
Though not a full Business Plan (Industry Analysis, for instance in not required), your Preliminary Business Plan should include: 
         an executive summary; 
     a description of your proposed business and its product or service- also mention the source of your innovative opportunity;  
     a list of key personnel and their roles;      an operation and production plan; 
     financial forecasts and identification of need for venture capital      a timeline of how the business will be operated; and       any risks to the business as well as ways to overcome them. 
Your preliminary business plan is a project to be developed by your group over the whole trimester. Students will complete sections of the business plan one-by-one over the course of the trimester guided by the structure and content advised in Chapters 9, 10 and 11 of Kuratko’s book.  While some time is put aside during the class to work on the plan and monitor your group’s progress on the plan, it is expected that most of the project will be developed outside the classroom. 
A well-written preliminary business plan should be no more than 15 pages  (excluding the appendices and the two-page executive summary).          
): 
Complementing your Preliminary Business Plan is your “Pitch”. Entrepreneurs are sometimes asked to do a “pitch” to venture capitalists or other funders. A pitch is a short—three to five minute—presentation designed to elicit further interest from potential funding sources. As such, it puts a premium on salesmanship and “hitting the high points” of the entrepreneurial idea. If the pitch is successful, the recipient should want to grant you more time to hear more. 
You will be asked to deliver your pitch at the last formal class of the trimester.  The criteria that will be used to assess your pitch are: 
Impact, particularly opening impact 
Clarity and overall impression of excellence 
Management of time 
Closure      
 
 
 

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Executive Summary
The Australian market has huge market opportunities that can be utilized with appropriate
business activities. Two professionals John Muddy and Tim Hank have found market
opportunities in smartphone industry and tried to establish suitable marketing strategies to reform
a business plan. They identified the innovative ideas as lack of features in the available
smartphones in the Australian market. The founders have targeted to introduce three
smartphones with latest features at an affordable price that would suit not only the demand of the
smartphone customers but also the budget.

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