Innovation and Entrepreneurship - EDENZ Colleges
TASK 1: EVALUATION OF BUSINESS INNOVATION
Choose a start-up or small business in New Zealand that has employed creativity and innovation in its operation. Evaluate the business innovation based on the following structure: (LO1, LO2, LO3)
- Business Description
The business description should be brief and concise. It must provide an overview of what the business is, its products and/or services, what it does and why it is innovative.
20 marks Approx. 600 words
- Market and Environmental Analysis
a. Identify the business’ existing consumers including demographics, psychographics and behavioural characteristics. (15 marks)
- Identify other stakeholders of the business. (10 marks)
- Evaluate competitors and their strategies. (15 marks)
- SWOT analysis. (20 marks)
20 marks Approx.
TASK 2: BUSINESS PROPOSAL
Based on your evaluation of the business operation and your findings in Task 1, develop a business proposal for an innovative product or service using the business model canvas provided in this document. (LO3)