This is still a continuation of the papers you have been writing. Please let me know if there are any questions. I have attached the past few papers in case you do not have copies of them.
You will submit the last portion of your draft business development plan for your company, covering the specific opportunity assessment along with the trends
and discussion on sustainability. This plan will be based on the results of Milestones One and Two in that it will consider that past forces of market change and
the current capabilities and limitations of the company. This plan will align the company’s efforts to exploiting intrapreneurial opportunities as well as
entrepreneurial opportunities, depending on the company’s capabilities. The plan should reflect consideration of potential future impacts on these plans such as
changes in the economy, market position, technology innovation, or sociopolitical factors.
Specifically, the following critical elements must be addressed:
A. Entrepreneurial Opportunities: Develop a list of entrepreneurial opportunities outside the confines of the company you selected. Each opportunity in
your list should have supporting rationale based on your market domain evaluation and PEST analysis.
B. Entrepreneurial Assessment: Select one entrepreneurial opportunity from your list to assess. How viable is the opportunity? Your response should be
supported with evidence from your market domain evaluation and PEST analysis.
C. Trends: Evaluate key trends affecting the global business environment of your selected market domain. These could be geographic, political, or societal
trends, or they could be trends specific to your market domain.
D. Impact on Opportunities: Determine how these trends will impact the development of your selected intrapreneurial and entrepreneurial opportunities.
E. Impact on Sustainability: Determine how these trends will affect the sustainability of your selected company. Which trends could be used to improve
sustainable business operations?
Guidelines for Submission: Your paper must be submitted as an 8-10-page APA-style Word document with double spacing, not counting the cover page and
reference page. It must be in 12-point Times New Roman font, with one-inch margins and at least three authoritative sources cited in APA format.
The above is from the rubric for the assignment. I will add the overview of the weeks work below.
Module Eight will be used to consider entrepreneurship as a means to take advantage of some opportunity that was identified in the earlier modules. In earlier modules, you were asked to assess your respective industry and market domain to seek out opportunities for future development. There are a number of ways a company can react to these opportunities. In Module Seven, you were asked to consider developing the market opportunity from within the parent organization, that is, using intrapreneurial means. There are many advantages to “growing from within,” such as better control of the operation, established financial resources, and access to administrative overhead activities to lessen costs. However, there are times when there is not a good “match” between a company’s capabilities and capacity and the market opportunity that the company sees in the marketplace. It might be possible that the parent organization is not comfortable expanding in the direction of the recognized opportunity. There may be technical risks or financial risks that make company sponsorship not attractive to senior management. In cases like this, the parent organization may not want to directly engage in developing the business opportunity but may want to take some other approach, such as a new startup company with the means to help get started.
For purposes of this assignment, it will be written such that the parent organization has decided that the market opportunity is lucrative enough to pursue but that both internal and external means are considered for market exploitation. For instance, a company may be comfortable with using internal assets and means, the intrapreneurial approach, to develop certain parts of the market opportunity but not comfortable developing other parts, therefore calling for an external, entrepreneurial approach. The final approach, intrapreneurial or entrepreneurial, is your choice, but both approaches must be considered and evaluated.
The developmental opportunity must be described in sufficient detail for a clear understanding of what value it brings to the marketplace. You will provide some details of the unique product/service that you intend to introduce to the marketplace that is not there now. This could be a logical extension of the growth of the industry and market domain, as was discovered in Modules Two and Three.
The company may be most comfortable in extending its current core competencies to some degree but may not wish to pursue too far outside its core competencies in developing those opportunities. The business environment analysis must document the chosen methods to exploit the market opportunity and provide a rationale for the approach chosen. The rationale for the approach should reflect a comprehensive understanding of the costs, risks, and benefits of the internal and external approaches and reflect the earlier evaluation of the company’s own capabilities and capacities.
The business environment analysis should include, at a minimum, the following sections:
Industry and market domain growth and development – highlighting the key factors that influenced the growth of this industry and market domain
Current company capabilities and limitations – these should reflect holistic understanding of the company’s capabilities and limitations based on the SWOT and PEST
Future opportunities, risks, and limitations – these should reflect an extension of the growth factors and inhibitors noted in the industry’s and market domain’s recent history
New product/service opportunity – with sufficient detail to identify its value in the marketplace and how it is different from existing products/services and a basic assessment of the costs, risks, and benefits of this effort
Exploitation and implementation approach – with rationale for intrapreneurial or entrepreneurial approach and high-level milestones to develop product/service into the marketplace and measures to ensure its sustainability