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Feasibility Blueprint Assessment Essay Example
Feasibility Blueprint Assessment
[WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 4, 5]
The goal of a feasibility blueprint is to assess the viability of a proposed business concept. The feasibility blueprint addresses the most critical elements one needs to consider during the initial conceptualization of a new venture.
To assess its viability, you will develop a comprehensive feasibility blueprint (schema) for your proposed entrepreneurial venture based on the data and information developed during the course. The objective is to determine whether the business opportunity is feasible and worthwhile. If not, describe the major constraints that led you to your decision. State the reasons for whether the decision is a go or no go. Research and substantively address the bullets below.
In your paper,
- Assess the problem or opportunity identified for your business.
- Describe solutions proposed for addressing the opportunity.
- Identify the design of the business model for the venture.
- Determine the customer value proposition of the business.
- Evaluate the revenue model to be used to manage the business.
- Analyze the implementation strategies to be developed for launching the venture.
- Examine considerations for assessing the value of the proposed products.
- Summarize the overall assessment of the viability of the business venture.
The Feasibility Blueprint Assessment
- Must be eight to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center’s APA Style (Links to an external site.)
- Must include a separate title page with the following:
- Title of paper
- Student’s name
- Course name and number
- Instructor’s name
- Date submitted
For further assistance with the formatting and the title page, refer to APA Formatting for Word 2013 (Links to an external site.).
- Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
- Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
- For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Ashford Writing Center resources.
- Must use at least five scholarly sources in addition to the course text.
- The Scholarly, Peer Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
- You may also include contemporary media coverage from credible sources and material from credible trade magazines.
- If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
- Must document any information used from sources in APA style as outlined in the Ashford Writing Center’s Citing Within Your Paper (Links to an external site.)
- Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Ashford Writing Center for specifications.
- Attach supporting documentation as appropriate in an Appendix formatted according to APA style at the end of your paper.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
Solution
Creating a comprehensive feasibility blueprint for an entrepreneurial venture involves assessing various aspects to determine the viability and potential success of the business idea. Below, I’ve outlined a schema that covers the key components of a feasibility blueprint:
1. Executive Summary: Provide a concise overview of the venture, highlighting its purpose, target market, value proposition, and potential benefits. This section should give a clear snapshot of the venture’s potential.(Feasibility Blueprint Assessment Essay Example)
2. Business Concept: Describe the core idea of the venture, including its uniqueness, innovation, and how it addresses a specific problem or need in the market.(Feasibility Blueprint Assessment Essay Example)
3. Market Analysis: Conduct a thorough analysis of the target market, including size, demographics, psychographics, trends, and growth potential. Identify competitors and analyze their strengths, weaknesses, opportunities, and threats (SWOT analysis).
4. Value Proposition: Clearly define the unique value that the venture offers to customers. Explain how it differentiates itself from existing solutions and why customers would choose your offering.(Feasibility Blueprint Assessment Essay Example)
5. Revenue Model: Outline how the venture plans to generate revenue, including pricing strategies, sales channels, and potential income streams.(Feasibility Blueprint Assessment Essay Example)
6. Marketing and Sales Strategy: Detail the strategies for promoting the venture and acquiring customers. This should include online and offline marketing tactics, social media presence, partnerships, and sales processes.
7. Operational Plan: Explain how the venture will operate on a day-to-day basis. This includes supply chain management, production processes, facilities, equipment, and human resource requirements.(Feasibility Blueprint Assessment Essay Example)
8. Financial Projections: Provide detailed financial forecasts for the next 3-5 years, including income statements, balance sheets, and cash flow statements. Consider different scenarios (optimistic, realistic, pessimistic) to assess the venture’s financial resilience.(Feasibility Blueprint Assessment Essay Example)
9. Investment Requirements: Specify the initial and ongoing capital needed for launching and running the venture. Detail how the funds will be allocated and potential sources of funding (e.g., equity, loans, grants).
10. Risk Assessment: Identify potential risks and challenges the venture might face, such as market risks, operational risks, regulatory risks, and competition. Develop mitigation strategies for each identified risk.(Feasibility Blueprint Assessment Essay Example)
11. Legal and Regulatory Considerations: Outline the legal and regulatory requirements the venture needs to comply with in its industry and location. This may include licenses, permits, intellectual property protection, and industry-specific regulations.
12. Sustainability and Impact: Discuss the venture’s approach to sustainability, environmental impact, and social responsibility. This can enhance the venture’s reputation and attract conscious consumers.(Feasibility Blueprint Assessment Essay Example)
13. Exit Strategy: Describe potential exit strategies for investors, founders, or stakeholders. This could involve selling the venture, merging, going public, or other forms of exit.(Feasibility Blueprint Assessment Essay Example)
14. Implementation Timeline: Provide a timeline for the different phases of the venture’s development, from concept validation to launch and growth stages.
15. Conclusion: Summarize the key points of the feasibility blueprint and reiterate why the venture is promising and worth pursuing.(Feasibility Blueprint Assessment Essay Example)
Remember that a feasibility blueprint is a living document that should be continuously updated and refined as more information becomes available and the venture evolves. It’s essential to be realistic, data-driven, and open to adjustments based on market feedback and changing circumstances.(Feasibility Blueprint Assessment Essay Example)
Reference
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