Find a proposed structure for your report below: Course Name & Section Number Group Name: E.g. The Unbeatable Student Names and

033200 Fundamentals of Innovation and Entrepreneurship Spring 2019

Project #2 (Opportunity Analysis Project (OAP) – Deadline: April 29th, 2019!

Summary

The Opportunity Analysis Project (OAP) will allow students to leverage the many tools that they have learned so far in the course. By Sessions 12A/12B, teams will develop a 3-page “story” and narrative regarding the OAP. Student teams will pick an idea during Session 9B and use the time until Sessions 12A/12B to determine whether (or not) the idea is a true opportunity that can be turned into a scalable enterprise.

Study Questions

• Continue from Project 1 and identify potential opportunities. Combine your own personal experiences and creativity with external forecasts and trend analysis. How is the world changing with respect to new technologies? What is the impact of globalization on current solutions? What new requirements will those changes produce? Recent media articles on trends are often a good place to start.

• Define the purpose and objectives of your new business. 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.

• 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, it is important to spend time gathering data from primary, not just secondary, sources.

• Gather data from secondary sources. Countless secondary sources exist on the web and in your college’s various library resources. Try not to get too bogged down in financial and accounting data.

• Analyze and interpret the results. Persuasively summarize your results.

Assignment

Test your OAP idea by talking to at least ten potential users, customers, and partners, document

these discussions, and share what you learned. Create presentation slides to share with your

033200 Fundamentals of Innovation and Entrepreneurship Spring 2019

classmates and write a corresponding written report of no more than 3 pages in length. In your

written analyses and presentations in Session 12A/12B, you will tell the "story" of your proposed

venture by addressing as much of the following as possible:

A. Concept and Vision. Where did your idea come from (e.g. a university lab)? Explain what

the market opportunity is and how your solution addresses this. What makes your

solution particularly compelling? How does it make the world a better place? Do you have

personal experiences with this market? Is there existing intellectual property that you

must license or new intellectual property you must develop in order to pursue this

opportunity? Has anyone tried something like this before? If so, why did they fail or

succeed, and why is the opportunity still attractive?

B. Market Analysis. What industry or sector of the economy are you addressing? Why is this

market attractive? What segment of the overall market are you pursuing? What market

research can be done to describe this market need? What are the total industry or

category sales over the past three years? What is the anticipated growth for this industry?

If this is a new market, what is the best analogous market data that illustrates the

opportunity? Project the potential market size and growth for your opportunity.

C. Customers and Customer Development. This is extremely important. You need to have a

clear idea of who your target customer is. The only way for you to be able to do this is to

"get out of the building" and speak with your potential customers. You will need to

answer questions such as: What does the customer need? Why does the customer need

it? What is the customer using today? What is the customer willing to pay for your

solution? Why? How will you reach this customer? You should include both primary (or

first-hand) research and secondary research, emphasizing primary over secondary.

D. Competition and Positioning. Who else serves this customer need? Who might attempt

to serve this market in the future? What advantages and weaknesses do these

competitors and would-be competitors have? What share of the market do specific

competitors serve? Are the major competitors' sales growing, declining, or steady? What

are the barriers to entry for you? What are the barriers to entry for additional

competitors? How could partners and allies best help you overcome competition from

established enterprises or other startups?

E. Business Model. Now that you have discovered an opportunity and talked to potential

customers, how will you turn it into a business? How will you make money and when do

you expect your venture to be profitable? What is the major risk to address right away

033200 Fundamentals of Innovation and Entrepreneurship Spring 2019

(e.g., market or technical)? In other words, which hypothesis regarding product or market

strategies need to be tested right away?

F. Learning and Adaptation. What did you learn and how between the time you chose the

idea in Week 9 and producing the final presentation and written report in Week 12? Is

this idea a true opportunity or not?

The items above have no implied order. Some entrepreneurs start with a well-defined concept

and then try to identify a market for their idea; others start by studying a market and then

stumble upon an idea. Also, please keep in mind that the specific data and information you

provide will vary according to the type of opportunity you choose to analyze. 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 totally 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 and 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 for your current idea,

even though you know it is problematic.

Project #2 (Opportunity Analysis Project) Rubrics

Assignment Description:

Idea Initiation and Purpose:

In this section you have to identify the potential opportunities that could result into a successful Business

Model. Students should also highlight the sources of opportunity/ idea generation to reflect the origination

of idea. This section should also contain the main aim/purpose of moving ahead with the opportunity/idea

generated.

Analytical Range:

Analytical range would reflect the depth of the research. This research should be directed towards: Market

Analysis, Customers and Customer Development, Competition and Positioning addressing all the study and

questions highlighted in the assignment detail. As stated in assignment details talk to at least ten potential

users, customers, and partners, document these discussions. This research should be based on both primary

and secondary information sources. Depth/range of research would lead you to better results which would

further help you to decide if your realized opportunity could result in to a successful Business Model or not.

Critique and Connection:

After you have completed the research you may easily be able to outline the strengths and weakness of the

proposed Business Model. The critique section would lead you to have a clear picture and take a better-

informed decision regarding your Business Model.

Your report should also reflect the connection between a) Learning resources and your OAP assignment b)

Purpose/Aim of your assignment and final adaptation.

Summary and Adaptation:

Summary should have an overall overview of the assignment which highlights the key points of the research

and the report.

You need to state if the proposed Business Model is the correct idea to move forward with and even if not

then explain the reasons to it. Your adaptation should be strongly supported by clear and loud

facts/results/problems which made you take the decision.

Overall Presentation:

Writing style should be easy for reader to follow. The assignment should be well organized, and a good format

based on study questions and assignment description should be followed throughout.

Fundamentals of Innovation and Entrepreneurship

Rubric for group project 2 report 20 Marks

Group Project 2 report rubric– 20%

Report Contents Comments Marks

Awarded

Organization and Structure:

• The final document consists of the following: o Cover page o Table of content o Body of work

/2

Vision and Opportunity

• The student clearly defines at least 3 of their career and/or educational goals after graduating from UOS.

• The student discusses in detail their purpose, their values, and their mission. Also, lists the 3 key questions that guide their choices. These are essential questions that serve as touchstones to direct the student’s life and work.

• The student provides at least 3 examples from the current job market and opportunities available to them. This must align with the student’s goals, taking into consideration their opportunities to make a difference.

/4

Marketing and Implementation Strategy

• The student has created their market positioning statement, directed at a hypothetical employer, industry, organization, or the world at large.

• The student clearly describes the compelling value that they will offer to their potential employers and society.

• The student defines how they will differentiate from other UAE students or from the broader populace.

/4

Risks and Mitigation

• The student clearly identifies the key milestones and checkpoints in their plan. In addition to describing how they will measure, or determine if they have successfully attained these milestones, and explain how they define success.

• External factors that might affect attaining success are clearly mentioned (Positively or adversely).

• The student has developed 3 contingency and risk mitigation strategies.

/4

Financial Plan

• The student identifies how they plan to source their funds

• The student mentions the project income statement.

• The students identify the budgeting and expenses statement

• the students present their 2-year forecast sheet

/4

Format

• Formatting is clear, used times new roman font, size 12, spacing is 1.5. Header and footer include student name, ID, and course details. Citation and referencing must be included in an attached page.

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Total Marks: _____/20

Student Name: _____________

Team Name: __________________

See Rubric for Group Project 2 presentation below

Group Project 2 presentation rubric– 10%

Organization and Visuals

Presentation is organized with a

clear introduction, body and

conclusion, with appropriate

visual aids. Visual aid used is

clear, looks professional, and

applies to content.

Presentation is organized, but

needs more structure. Visual

aids used could use some

editing and improvement.

Presentation lacks

organization or structure.

Visual aids used were not of

any use or relevance.

2 0

Vision and Opportunity

The student demonstrates a

clear vision of their career

and/or educational goals after

graduating. has created their

market positioning statement,

directed at a hypothetical

employer, industry,

organization, or the world at

large.

The student demonstrates an

adequate vision of their career

and/or educational goals after

graduating. has created their

market positioning statement,

directed at a hypothetical

employer, industry,

organization, or the world at

large.

The student does not

demonstrate a clear vision of

their career and/or

educational goals after

graduating. The student did

not mention their market

positioning statement, and

does not describe the value

that they will offer

2 0

Risk and Mitigation

The student clearly identifies

the key milestones and

checkpoints in their plan. In

addition to describing how they

will measure, or determine if

they have successfully attained

these milestones, and explain

how they define success.

External factors that might

affect attaining success are

clearly mentioned. The student

has developed contingency and

risk mitigation strategies.

The student partially identifies

the milestones and checkpoints

in their plan. The student does

not describe how they will

measure, or determine if they

have successfully attained these

milestones, and explain how

they define success. External

factors that might affect

attaining success are briefly

mentioned. The student has

broad and general contingency

and risk mitigation strategies.

The student does not identify

the milestones and

checkpoints in their plan. The

student does not describe

how they will measure, or

determine if they have

successfully attained these

milestones, and does not

explain how they define

success. External factors that

might affect attaining success

are overlooked. The student

has no contingency and risk

mitigation strategies.

2 0

Failure

Student shared a valid failure

experience from their past and

shared what they learned in

terms of maximizing their

future potential.

Student shared valid failure

experience, but did not provide

specific reference to learning

from their failure. Limited

reasons were provided at

maximizing their potential for

the future.

No failure experience

identified. Inappropriate or

inadequate responses.

2 0

Presentation Skills

Student has clear eye contact,

and is clearly prepared. When

asked, student is able to explain

any part of the whole

presentation. Presentation is

between 4 to 5 mins

Student made eye contact every

now and then, but needs more

preparation. Presentation is

more than 5 minutes.

Student was not prepared and

lacked self-confidence.

Presentation is less than 4

minutes.

2 0