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Group Assignment - S2 2024

Intreprenuership

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41 views3 pages

Group Assignment - S2 2024

Intreprenuership

Uploaded by

aphiwelinda0
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FACULTY OF MANAGEMENT SCIENCES

DEPARTMENT OF LOGISTICS & SUPPLY CHAIN MANAGEMENT

MODULE : ENTREPRENEURSHIP

SUBJECT CODES : BBENA1A; BBENT1A & BBENP1A

ASSESSMENT : Group Assignment

DUE DATE : 23/08/2024

EXAMINER : OT Matsheke; M Matlala; M Matshitja & E Nkambule

INTERNAL MODERATOR : Prof. JP Van Westhuizen

INSTRUCTIONS

ANSWER ALL QUESTIONS.


Question 1

Creativity and generation of new business ideas

Utilise one of the methods of generating business ideas and generate a product or a
service idea with your group members consisting of five members by answering the
following questions.

1.1 Clearly state the name of the product/service. (6

Provide a detailed description of the product/service, including its features, benefits, and
specifications. Highlight what makes it unique or superior to other similar
products/services.

1.2 Describe the method/s that you used and how did you use it. (4

[10

Question 2

Screening of products/services ideas

Please note that not all business ideas are business opportunities. Therefore,
screen/evaluate the product or the service ideas based on the characteristics of
the products or services ideas below. Provide 3 sentences for each characteristic.
NB write each characteristic and provide your answer underneath.

2.1 The new product or service should fulfil a need or want.


2.2 The new product or service should have either a niche-market appeal or a mass-
market appeal.
2.3 The product or service must render an income and profit.
2.4 The customer should replenish or repurchase the product or service on a regular basis

2.5 There should be compatibility with existing attitudes and beliefs.

2.6 The product or service should be simple so that the buyer will understand it
2.7 It should be easy to communicate the results or benefits of the new product or service
to potential users. [21

Question 3

3.1 Customers (4

Provide detail information about your customer profile and customer segmentation.

3.2 Competitors

Describe at least two competitors. What is your competitive edge? (3

3.3 Suppliers

Who will be your suppliers? Describe two and explain what is it that you are going to buy
from them in order to start your business. (4

3.4 Marketing of the product or service

Explain how you are going to make your products/services known to your potential
customers. (3

[14

Question 4

Who forms your entrepreneurial team? Explain their knowledge, skills, experiences and
abilities. [5

Total marks [50

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