Assessment Type Individual Assessment Number 2 and 3 Assessment Name Report and Presentation Unit...

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Assessment Type Individual Assessment Number 2 and 3 Assessment Name Report and Presentation Unit Learning Outcomes Assessed 1,2,3,4,5 and 6 Due Date and Time Assessment 2 : 8/February/2019, Upload report on Moodle Assessment 3 : 7/February/2019, In class presentation Weighting Assessment 2 Report 25%, Assessment 3 Presentation 10% Assessment Description Assessment 2 : Opportunity Analysis and Development Report (Around 2000 words, Turnitin submission) In the unit, you learnt that entrepreneurs are individuals who recognize opportunities where others see chaos or confusion. They challenge the unknown and continuously create the future. In addition, potential entrepreneurs are always looking for unique opportunities to fill needs or wants. They sense economic potential in business problems by continually asking ' if only they...', "what if...?" or ' Why not...?" They develop an ability to see, recognize and create opportunity where others find only problems. Think about the following areas to get a sense of ideation and initial concept: 1) Look for new niches. Your next business idea doesn’t have to reinvent the wheel. Can you build a better mousetrap? 2) Apply your skills to an entirely new field. Think about your skills and whether they might be useful in a new area? 3) Find a category lacking recent innovations. Revisit Module 2 on Innovations. 4) Make a cheaper version of an existing product. Companies often get their start by offering customers an existing product at a lower price. 5) Have an idea quota; write ideas down. You need to be as tenacious as you can with this. Every day, set out an idea quota within a period of roughly 45 minutes to an hour, where you do nothing but write down ideas about the area that interests you. 6) Creative Mind Tools such as brainstorming – a method for obtaining new ideas focusing on the parameters. 7) OR, Reverse Brainstorming – A group method for obtaining new ideas focusing on the negative. After you come up with a promising insight, there is no guarantee that success will follow, of course. You need to turn a great insight into a thriving business, which is incredibly challenging. You will need to write up around 2,000 word summary of your key findings, critique and insight in your evaluation. The following structure is best suggested for this document: 1. Introduction In your introduction, you must address which methods you employed from the processes above that lead to yourinsight of your idea. You will also use these questions as a guide to your elevator pitch, in part B of the assessment. 2. Problem & Need Analysis What problem are you trying to solve? In other words, what do your customers need and how do you know for sure? Look and apply from every angle. Applying this rule means an entrepreneur will analyse a problem from every possible angle: What is the problem? Whom does it affect? How does it affect them? What costs are involved? Can it be solved? Would the marketplace pay for a solution? For bonus points, what type of need is it? (continuing need, declining need, emerging need, future need) 3. Consumer Analysis Think about how much is it or how much are customers willing to pay? What are the perceived benefits and risks? Think of appeal characteristics, utility to customer, customer taste and preferences, buying motives, consumption habits). 4. Market Analysis How well do you know your competitors? What is the position in the life cycle? What is the market size and potential? 5. Internal Capabilities Who are you (what experience, expertise, and talent do you have to offer) and who is on your winning team? 6. Commercial Viability What is your unique selling point or value proposition? Is it scalable? What is the return on investment (need to determine the value of the product idea with cash flow, cash inflow, profit, relative return)? Note: You do not need to do a rigorous screening or evaluation of the business idea. This guide is to give you a taste of what is expected of you on your entrepreneurial educational journey. The guide is enough for you to eliminate those ideas that are impractical and ones that show potential to move toward the concept stage, the product development stage, the test marketing stage, and finally into commercialization.Assessment 3 : Opportunity Analysis and Development Pitch (10 minutes, in class) You will produce a maximum 5 minutes (followed by 5 minutes of questions and answer) in class using the opportunity identified in part A to generate interest, intrigue and commitment of financial investment from a venture capitalist. Pitch must frame the value proposition of the opportunity specific to your start-up entrepreneurial firm. Lecturer and students will ask you questions after the pitch like and investor would. Although it will not be as rigorous as in the case of Shark Tank (https://tenplay.com.au/channel-ten/shark-tank) it may be toned downversion of it. ☺ Try and be as innovative as you can and want. Detailed Submission Requirements Assessment 2 should be in the format of a report of around 2000 words while assessment 3 will be a 10 minute pitch in class.

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Orishaba · Accepted Answer

1
Opportunity Analysis and Development Report
Student’s name
Name of Institution
Course 
Date
https://jmp.sh/WrtUEtz use this link for power point
Introduction 
For this assessment, we sat as a group and brainstormed about the new niches in the paper production industry.  We reviewed many products and the market for new product innovations in the paper industry. Emphasis was put on the quality of packaging materials, environmental protection concerns, and consumer safety. These parameters helped us to arrive at a viable business idea. We propose new innovations in the production of packaging materials made out of paper and pulp by integrating technology into these products to enhance consumer safety, environmental protection, and convenience in service delivery.  Research evidence shows that plastic packaging materials are killing aquatic life and damaging the environment[footnoteRef:1].  It is from this background that we saw a need for advancing the production of more environmentally friendly packaging products to protect our natural endowments. Many states have banned the production of plastic bags which means that there is a growing market opportunity for more biodegradable packaging products to substitute the plastic ones. Looking at the aspect of consumer safety and cost was also another innovative idea.  Today, there are many online retailers and consumers shop their products from the online markets, which means that products are ordered, packaged and transported to the consumer’s destination.  We developed an idea to protect the integrity of these products such that they are not tampered with along the way as they get transported up to the consumer.  The new innovation was to come up with smart packaging materials that are made up of sensors which can detect if the product is tampered or stolen or delivered to a wrong destination. [1:  Pätäri, Satu, Anni Tuppura, Anne Toppinen, and Jaana Korhonen. "Global sustainability mega forces in shaping the future of the European pulp and paper industry towards a bio-economy." Forest Policy and Economics 66 (2016): 38-46.
] 
Problem & Need Analysis
By producing more smart paper packaging materials, we are trying to solve the challenge of the declining growth in biodiversity and the increasing pollution in the atmosphere. In addition, we are solving the challenge of the growing safety concerns stemming from product tampering, theft, misrepresentation in dispatch, etcetera. 
Today, the entire world is rapidly transforming into an online ordering society comprised of many online retail shops, many companies doing e-procurement and many consumers who want to order their products online.  This presents an opportunity for the growth pulp and paper industry because the increased demand for online shopping increases the demand for tissue packaging and paperboard[footnoteRef:2].  The predictions indicate that there is a possibility for a consistent and dramatic increase in the demand for these packaging products from the chemical pulp industry.  [2:  Peter Berg and Oskar Lingqvist. Pulp, paper, and packaging in the next decade: Transformational change. May 2017. From https://www.mckinsey.com/industries/paper-and-forest-products/our-insights/pulp-paper-and-packaging-in-the-next-decade-transformational-change
] 
In addition, there are many emerging economies with many end-use manufacturing industries which need paper and pulp products for packaging. In fact, the need for more efficient and environmentally packaging is widening as the population increase in these emerging economies.  More so, there are specialty and hygiene products that are being manufactured as the population becomes more health conscious, which creates another boom in this niche market. 
Today, the world is also undergoing digital transformation and this creates a need for value addition in the existing products. New technology can facilitate the development of products that can work better than just wrapping packages.  The increasing consumer safety concerns about the online –ordered products creates a need for “smart packaging” that contain inbuilt digital technologies and sensors to detect some of the safety-related issues that affect the quality of the product and the health of the consumers[footnoteRef:3]. In regard to this challenge, intelligence packaging and active packaging are the ways to go.  Active product packaging protects the environment of the shipped products up to the consumer’s destination[footnoteRef:4].  This technology is important for ship food products which are fragile to environmental challenges such as rainfall, temperature, weather among others. On the other hand, intelligent packaging helps the consumer to know the details of the product, the safety status, and the changes made during the transportation process[footnoteRef:5].  [3:  Ahmed, Ishfaq, Hong Lin, Long Zou, Aaron L. Brody, Zhenxing Li, Ihsan M. Qazi, Tushar R. Pavase, and Liangtao Lv. "A comprehensive review on the application of active packaging technologies to muscle foods." Food Control 82 (2017): 163-178.]  [4:  Ahmed, Ishfaq, Hong Lin, Long Zou, Aaron L. Brody, Zhenxing Li, Ihsan M. Qazi, Tushar R. Pavase, and Liangtao Lv. "A comprehensive review on the application of active packaging technologies to muscle foods.

Assessment Type Individual Assessment Number 2 and 3 Assessment Name Report and Presentation Unit Learning Outcomes Assessed 1,2,3,4,5 and 6 Due Date and Time Assessment 2 : 8/February/2019, Upload...

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