CDO303GER Impact Startup Challenge in Gerontology Assignment SUSS Sample Singapore
The start-up scene in Singapore is becoming stronger and more vibrant with each day. There are many opportunities for individuals who have an idea that they want to test, but need help getting started or building their business model into something sustainable enough so it can thrive on its own without relying too heavily upon one person’s efforts alone. The Impact Startup Challenge courses offer students hands down guidance from experts across multiple fields – including entrepreneurship itself! They provide them access not only learnings about what makes good strategies successful ones through real world experience immersing themselves deep within today’s fastest growing industries here at home as well abroad.
Students will develop a deeper understanding of the problem they are trying to solve, teams get an opportunity to put their ideas and assumptions on trial through feedback that’s been gathered from other designers who have gone before them. And entrepreneurs stand higher chances for success when working within these Eve ecosystems – learning what has worked best in previous cases where people took risks by building businesses around meaningful tackling difficulties like yours does.
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Assignment Activity 1: Demonstrate an understanding of the problem which the business is trying to solve
The problem that many businesses face is that they are unable to find a way to get their products in the hands of more customers. This can be due to a variety of factors, such as the cost of advertising or the location of the business. However, one way to increase distribution and sales is through partnerships with other businesses.
By forming partnerships with other companies, businesses can reach new customers who may not have heard of them before. In addition, partnering with a company that has a similar customer base can help to attract those customers to your business as well. Finally, partnerships can also be beneficial because they allow businesses to share resources and knowledge, which can help both companies grow and succeed.
Assignment Activity 2: Examine the key drivers behind the proposed value proposition
Let’s examine the key drivers of this solution.
- There are no user data on computers, which eliminates invasion of privacy on individuals’ personal computer (Computer-wise).
- From it’s inception, the company has developed numerous innovative ways to secure information and manage corporations in the face of mounting cyber threats (Data-wise).
- The company recognizes that cybersecurity is more than just avoiding breaches; it must also provide proactive monitoring based on Artificial Intelligence (AI) to anticipate breaches before they occur (Together-wise). And finally…
- Overall, this solution allows companies to store information in one central location where all employees can securely get to the information when necessary.
Assignment Activity 3: Appraise the proposed business idea’s potentials for success or failure
There are a lot of things to consider when assessing the potential success or failure of a business idea. Some key factors to consider would include the feasibility of the idea, the target market, the competition, and the resources required to launch and sustain the business.
Overall, it’s important to have a realistic understanding of what it will take to make your business idea successful and be prepared for all possible outcomes. If you have a great idea but don’t have the skills or resources necessary to make it happen, then it may be best to partner with someone who does. And if you’re up against stiff competition, then you’ll need to put in extra effort marketing and branding your product or service. So there’s no one answer to this question, but there are a lot of things to consider that will surely help you determine the potential success or failure of your business idea.
Assignment Activity 4: Identify a problem to be solved with the business idea
One problem that could be solved with the business idea is how to make the buying process easier for customers.
A possible solution could be to create an e-commerce website where customers can purchase products with just a few clicks. This would make it easier for customers to find what they are looking for, and it would also reduce the amount of time that is required to complete a purchase.
Another problem that could be solved with this business idea is how to make life easier for advertisers. For example, companies are often required to spend hours manually entering information into websites when they want to advertise a product or service. A possible solution could be to create a web application where advertisers can choose from a list of pre-populated ads and links, which can be chosen based on a specific geographic location, age group, gender, etc.
The third problem that could be solved with this business idea is how to make it easier for non-profit organizations to raise funds.
A possible solution could be to create an online network where people can donate money or buy custom printed t-shirts with logos on them, helping the organization raise awareness and funds at the same time. This would make it
Assignment Activity 5: Propose a hypothesis of a potential customer
A potential customer is most likely a service-oriented individual who values quality and respects the value of every person, as well as those who support their families by working. A great product would be one that is both functional and sustainable, has a minimal or no carbon footprint, and that makes ethically minded consumers feel good about themselves.
The reason a potential customer would respect a company’s values adds to the probability of becoming a card carrying member. By aligning with qualities they find desirable such as sustainable products or environmental awareness make it more likely for them to become buyers rather than consumers from time to time only. This also reaffirms feelings from others from past interactions which can often make lasting impressions on people. In other words this is the reason for this question’s answer.
Assignment Activity 6: Test the assumptions behind the problem and the hypothesis of the customer
When it comes to solving customer problems, it’s important to test the assumptions behind the problem and the hypothesis of the customer. Too often, businesses jump to conclusions about what customers want or need without doing any detective work. This can lead to miscommunication or a mismatch in expectations, which can be costly for both parties involved.
The first step is to understand the problem that the customer is trying to solve. Often, this means taking the time to ask questions and really listen to what they have to say. Next, try and get inside the customer’s head and figure out what they hope to achieve with a potential solution. Only then can you start brainstorming potential solutions that fit their needs. Keep in mind that not every solution will be a fit, but as more ideas are discussed and research is conducted more potential solutions will emerge.
Businesses should also not assume that they know what the customer wants. Many entrepreneurs have had success because they listened to their customers tell them about some kind of problem that needed solving. Once you’ve identified a problem, brainstorm a handful of potential solutions. Then, you can test the different solution options with potential customers by asking whether they would purchase each specific solution given a set price point. From there, it’s just a matter of finding out which solution works best for the customer and the business.
Assignment Activity 7: Defend the business proposal in front of a panel of judges or Evaluate the reason attributable to failure of the business proposal
There are a few key points that need to be discussed in order for me to make a decision about whether or not this business proposal is worth investing. The first and most important thing is determining the timeline and scope of the project. The more information we have, the better we can determine feasibility and level of commitment.
Second, we need to know who your customer base would be. This includes demographic data about how many people you plan on targeting as well as what your customer’s pain points or want/need might be that your product fulfills. Finally, it’s important for us to discuss any partnerships you might already have prior to discussing things like branding and intellectual property because those discussions will inherently affect the way clients receive the brand once launched.
These points frame the conversation about what your business will do, and while a little information might be better than none at all, I need to have a lot of context in order to make an informed decision.
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