Chinese Learning Tools Group
Market Research Role
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Libby Anson - Flux - Game to be played competetively
Business Strategy, planning, process.
Team of 6 can win 3000, win 500 each.
Team must work well together.
TO REPLY
27/28 march
1 team of six people
prep work - Xing
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MARKETING
Roles Chart
Availability Chart
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In cycle 1, you identified business opportunities and put forward a business idea. You are now in a team to develop one of the ideas pitched into a viable business plan.
Remember, your idea may have been chosen- Congratulations! - but it NO LONGER BELONGS TO YOU. From now on, the development is in the hands of the whole team and the concept is likely to change in line with further research and analysis.
All of you will need to have an overview of all aspects of the project, and the marketing strategy is to be shared across the team. However, you need to distribute final responsibility for areas among members of the team. Please see some examples of how you could do this in page below.
At the end of this cycle each team will have produced a business plan including:
Customer/Audience Profiles
Competitive Analysis
Budget: (Accumulative) Cash Flow Budget and a Profit Loss Budget for the first 3-5 years of the business (as appropriate)
Start up Action Plan
Investment/ funding proposal
Links:
Consumption, Planned Obsolescence and Waste paper by Neil Maycroft
enloop- cloud business planning tool
kooky plan wiki - wiki for entrepreneurs
Stanford Entrepreneurship Corner - 2000 videos and podcasts by leading entrepreneurs and business thinkers
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NACUE CREATE: list of useful resources for start up entrepreneurs in the creative industries
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Add to blog - 06 March 2012
Academia.edu
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In cycle 1, we looked at trends, economical, social impact on the industries you're in and how these are affecting and may affect your industries. STEEP is an acronym for a number of factors which you will want to consider when planning your business:
S= socio-cultural
T= technological
E= economical
E= ecological
P= political
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SWOT is a classic tool for business planning and strategy.
S= strengths. These are internal strength to your company. Experience, capital, machinery, skills are strengths.
W= weaknesses. Again, these are internal factors. Lack of experience, weak bargaining power, bad reputation, lack of specific skills, weak network come under this category.
O= opportunities. These are external factors. Looking at emerging trends will help you populise this category. Your location, network, current events, gaps in the market, weak competition will provide opportunities.
T= threats. Again, external to your business. The double dip recession may be an opportunity or a threat depending on your business model/ offer/ target market etcetera. Competitors and copy cats may be a threat.
STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS
Once each area is populated, look at opportunities and strengths to find solutions and ideas for how weaknesses and threats can be adressed. Also, see which strengths you have which could be applied to other opportunities than the ones you are currently pursuing. If you find new product or service idea- do further swots to explore these separately
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