UNIVERSITY OF SOUTHERN MINDANAO Technopreneurship ES 223 Module 3 Module 3: Conducting a Feasibility Analysis and Designing a Business Model • Idea Assessment • Feasibility Analysis • Porter’s Five Forces Model • Product or Service Feasibility Analysis • Financial Feasibility Analysis • Developing and Testing a Business Model The Foundations of Entrepreneurship 2 Lecture 1: Idea Assessment ILO 1: By the end of the learning experience, students must be able to: ✓Describe the process of conducting an idea assessment Idea Assessment 3 Introduction Start-up And Growth Of An Entrepreneurial Venture Business Ideas Creating a strategic plan Conducting an idea assessment Crafting a business plan Conducting a feasibility analysis Developing a business model Launching a business Figure 1. New Business Planning Process Insert Running Title 4 Idea Assessment • An idea assessment is the process of examining a need in the market, developing a solution for that need, and determining the entrepreneur’s ability to successfully turn the idea into a business. • An idea assessment helps the entrepreneur efficiently evaluate the numerous ideas that come out of the creative process before committing the time and effort to craft a business plan, design a business model, or even conduct a feasibility analysis. Idea Assessment 5 Idea Assessment • One effective tool used to help assess ideas is the idea sketch pad • The idea sketch pad helps an entrep ...
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