Do you have concerns that your proposed solution already exists? Why or why not? Who is the competition in this domain? List five potential competitors – provide the name,
Uploaded is the assignments. The Excel Spreadsheet goes with Assignment 2. Please let me knpw if you can do it
IMPORTANT: This is an individual assignment (even if you are working in a team, you will still need to provide your own thinking about the concept!)
Read these two articles:
Address the following questions:
1. Do you have concerns that your proposed solution already exists? Why or why not?
2. Who is the competition in this domain? List five potential competitors – provide the name, website, and your rationale as to why you think this entity also plays in the same space where your proposed solution lives.
To receive full credit:
· You will need to do additional research into your solution to adequately respond to the prompt. Provide specific examples of what you find as you determine if your proposed solution is truly unique.
Sheet1
| QUESTIONS | YOUR ANSWER | IS YOUR ANSWER: | ||
| FACT | ASSUMPTION | |||
| DESIRABLE | Who are you solving this problem for? | |||
| How are they currently solving this problem? | ||||
| On a scale of 1 to 10 how important is this problem / solution to the customer? | ||||
| List the benefits your solution will generate. | ||||
| FEASIBILE | Who is providing the current solution? | |||
| How do you plan to solve this problem for the customer? | ||||
| Can this be done? | ||||
| How is your solution unique, better, or different? | ||||
| VIABLE | Will customers be willing to pay for a better solution? | |||
| How will you monetize your solution? (How will you make money?) |
,
This week, you will evaluate what you know and need to know about your product or service concept, then, do some research to find the information you need to assess whether or not your idea is desirable, feasible, and viable.
Before you get started:
· If you are forming a team, you will answer the questions related to your idea.
· If you are joining a team, you will respond to the following questions based on what you know about the idea of the team you are joining.
Start by getting all of the facts you need to evaluate your product/solution:
· Complete a FACT vs. Assumption analysis of your solution. Download the spreadsheet here: FACT VS ASSUMPTION CHART.xlsx Download FACT VS ASSUMPTION CHART.xlsx
· Conduct research to confirm or dispel your assumptions
· Use Google, social media, and the UCCS library resources/tools
The Assignment:
Submit (UPLOAD) your FACT vs ASSUMPTION analysis sheet AND responses to the following: (be specific, use examples, proofread) UPLOAD these two documents at the SAME TIME!
· What did you learn from the FACT vs ASSUMPTION analysis? (one paragraph)
· Feasible: is your product feasible? Why or why not? (One paragraph)
· Desirable: is your product desirable? Why or why not? (One paragraph)
· Viable: is your product viable? Why or why not? (One paragraph)
Part A ~
Do you understand the problem of Sustainable Renewable Energy Storage?
Respond to the following:
For the following questions, select the problem you are the most interested in solving and answer the following:
1. State the problem in one, brief sentence.
2. Who is suffering?
3. What are they suffering from and when?
4. What’s causing the suffering?
5. How many people are affected?
6. Where are they located, and how are they geographically distributed?
Part B ~
Aligning the Solution to the Problem
Select the solution you are the most interested in pursuing and answer the following:
· How will my enterprise alleviate the problem?
· Who and how many will benefit?
· What major costs will be incurred?
· If it is to be a business, how will revenue (income) be generated? If it is not a business, how will operating funds be secured?
Part C ~
This next section focuses on sustainability. You also have an opportunity in this course to think about innovation through a social entrepreneurial lens. Think through the approach to hunger through two separate lenses (1) Unilever and Positive Nutrition and (2) the collective impact work of Communities ending poverty.
Respond to the following:
1. Unilever’s Sustainable Living Plan LINK to Fortification for Better Health (Links to an external site.)
· How does Unilever benefit financially from the plan?
· What is the societal benefit?
2. Communities Ending Poverty LINK to Tamarack Institute / Ending Poverty Pathways (Links to an external site.)
· Who is involved in the effort?
· What recommendations are made?
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