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COURSEWORK ASSIGNMENT REPORT

TOTAL (50%)
Note: This Report must be completed using this template. The Deadline Date for submission
is November 27th 2023. Submissions are to be made (along with a turnout report with a 15%
or less similarity) via email to [email protected] or to [email protected]

GROUP INFORMATION
GROUP NAME:
GROUP EMAIL:

GROUP MEMBERS:
No
Last Name First Name UWI ID Number
.
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12

1. SECTION ONE – THE INNOVATIVE IDEA (5%)

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SECTION 1A – Please Select the type of enterprise that you will be focusing on

Enterprise Type Category Tick

(Product or Service) Box
1 Agribusiness ☐
2 Computer & Internet Technologies ☐
3 Environment Protection & Management ☐
4 Social & Community Development ☐
5 Creatives, Entertainment &/or Fashion ☐
6 Health, Wellness &/or Medicine ☐
7 Travel & Tourism ☐
8 Food & Beverage Products ☐
9 Sports and Gaming Entrepreneurship ☐
10 Education & Learning ☐
11 Construction &/or Facilities Management ☐
12 Wildlife Protection & Management ☐

SECTION 1B – Basic Background to your idea

Please briefly describe your product or
service idea (<25 words)
Why did you select this idea?
(<25words)
Who or what brand is your main
competitor? (<25words)
What are the main advantages and
disadvantages of that brand? (<25words)

SECTION 1C – Your Innovative Improvements / Ideas

Your Main Competitor’s Product / Service Your Product / Service

Great Design Features (Strengths) Your Design Improvements

1 1
2 2
3 3
4 4
5 5
Design Flaws (Weaknesses) Your Design Solutions

1 1

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2 2
3 3
4 4
5 5

2. SECTION TWO – THE STRESS TEST (20%)

The Maximum word count for this section is 1500 words (not including diagrams, appendices
or attachments). The recommended section headings are indicated below.

1. The Business Idea

(Name and brief description of the Idea. Rationale for the Idea (why you came up
with this particular idea…what’s your connection to the Idea?). Note: For this
course it is recommended that you avoid overly complex business ideas that are way
outside your experience)
2. The Objective of the Stress Test
(Indicate the objective for doing this stress test? What is your test hypothesis? i.e.,
You want to test out some new and unique features or product improvements that you
think customers would appreciate?)
3. Method used to Stress Test the Idea (including Use of Funds)
(Describe what you did to Test your Idea, its unique features and / or the
improvements you came up with. i.e., How was the idea was presented or described
to potential customers and how did you go about gathering feedback from the
potential customers about the idea.)
4. What did your Stress Test reveal about the Market Segments you tested
(Based on survey responses, which Features and Advantages did you confirm about
your product were found to be most appealing to the customer segment)
5. How do you interpret the results of the Stress Test
(What new market knowledge to you gain? What features would you change about
your original idea and why?)

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3. SECTION THREE – THE BUSINESS MODEL CANVAS (25%)

The Maximum word count for this section is 2000 words (not including diagrams, appendices
or attachments). The recommended section headings are indicated below.

1. The Value Proposition

(Concisely Define your Final product, service or innovation and Describe the unique
Features and Advantages that makes it of great value to customers and competitive
in the market)
2. The Customer Segment
(Based on your Stress Test, Provide a Final Customer-Profile description of the
main target customer; e.g., demographics, concerns, buying habits, preferences, etc.
Why do you think this customer segment will be especially interested in the features
and advantages you described above?)
3. The Customer Relations Strategy
(Based on your Stress Test, Describe how your plan to engage / connect with your
customer; Discuss the customer experience, your communication style, promotions
strategy, customer feedback, use of ICT & social media. Why would this Strategy be
effective?)
4. The Distribution Channels
(Based on your Stress Test, Describe where, how, and when, customers will be able
to purchase or gain access to your product/services. Why would this strategy be most
preferable and effective for this customer segment?)
5. The Key Activities for the Business
(List and Describe the essential activities that you’ll need to do in order to produce,
promote and sell to the market segment. Include business set-up activities and key
operations activities. Which Set-up and Operation Activities are most important?)
6. The Key Resource Requirements for the Business
(List and Describe the essential Resources that you’ll need to do in order to engage
successfully in the market segment. Include business set-up Resources and key
operations Resources. You should rank or at least indicate which Set-up and
Operation Activities are most important?)
7. The Key Partners, Suppliers and Relationships

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(Describe your key Tactical Partners and (if applicable) Strategic Partners. Why
were these Partners selected?)
8. The Main Cost Drivers
(List the main Set-up cost drivers as well as Operational cost drivers. A table format
may be helpful but not essential. You should rank the cost drivers in order of most
expensive to least expensive)
9. The Main Revenue Streams
(List the main sources of Revenue from the business. Try to be as specific as possible
about this. A table format may be helpful but not essential.)
10. Closing Summary
(Why do you think this business idea can be personally rewarding, socially impactful
and/or profitable?)

4. SECTION FOUR – APPENDICES

i. A Copy of your BMC Diagram
ii. Picture or either the Product (Sample or Prototype), Flyer or Social Media Page, etc.
that was used to share the idea with Survey Responders
iii. Copy of the survey form or questionnaire that was used to get feedback about the idea
iv. Copy of the survey results