setting up a business

 

You have expressed interest in setting up a business that would develop and sell a product or service in the domestic market (Australia) with the view of exporting it to an ASEAN country in 3 years. You believe that there is an unsatisfied and significant demand for the product or service you intend to provide in your target markets, although you have not researched the market. Moreover, you have never been involved in running a business and are unsure of your ability to operate the business successfully. You want to start this business from scratch and are not interested in a franchise because you do not want to limit the scope of activities you can undertake. You have chosen to assess the market, product, technical and commercial feasibility of your idea. Write a feasibility report covering the following: 

1. A description of the business idea and its proposed potential.

2. A description and analysis of the industry in which the business will operate:

(i) The industry should be described in terms of its current status and future trends, identifying gaps or opportunities related to the new business. The description should include the current application of the product/service in the market and projections for its future.

(ii) Present and rank the Key Success Factors for the industry/target market that your business must possess if it is to be successful.

(iii) Present the key driving forces for the industry. Driving forces refer to external factors with significant impact on performance in an industry, and include but are not limited to: 

– increasing household income
– rising number of retired baby boomers with time and money to spend
– a desire to see the world
– ready access to information from the internet
– high literacy levels among the population

(iv) A determination of the attractiveness of the industry (pursuant to the points expressed and conclusions reached from your analysis of the industry/competition in section 4(iii) re: Porter).

(v) An explanation justifying the opportunity that you intend to pursue.

Please see the attached document titled ‘Assignment.Requirements.-.Feasibility.Report.pdf’ to see all 12 parts that are to be completed. The client created this document so please follow the information in there very strictly.

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