Make your new business successful.

Imagine a group of would be entrepreneurs are convinced that with the right product and careful planning you are certain that you can make your new business successful. You are recent graduates of an MBA program and were intrigued by the challenge and potential reward of doing you own thing rather that joining a firm and working your way up. You all have some basic ideas on product and services you might make and sell for you venture and an idea of how to write the business plan when you have chosen your product. But that is what you must first do and you need to establish a method for determining what that product will be.

Most of chapter 4 in your text discusses these issues. Factors like trends in the marketplace, Focus groups, brainstorming, classifing new product ideas and recognizing opportunities are discussed in detail. You have been assigned that task of preparing an action plan to systematically and logically evaluate new product ideas for the group to consider. Go through the information offered in chapter 4 and do some outside reseach and provide a mini-plan on how you wuld suggest your group examines the potential for new or improved product for your company. Some personal preferences will surley enter into the decisions but you need to boil down the vast array of products and services to a managable level. Charts and tables are not mandatory but may be needed to submit a complete analysis.

Submit your post for grading.

(Note to the write): Please Go through the information offered in chapter 4

ENTREPRENEURSHIP 10th Hisrich, Peters, and Shepard McGraw­Hill 978­0­07­811284­3