Reference no: EM131136350

Answer the given Questions.

BUSINESS CONCEPT FEEDBACK

1.1 Company Background and History

Question: What does your company do? Give a brief background or history of its origin.

1.1.1 When will your company be launched?
 
1.1.2 In which city will it be located?

1.1.3 What is the legal structure of your company? (sole proprietorship, a partnership, or a corporation)
  
1.1.4 If incorporated, who are the shareholders of your company and what percentage share do they have? If a partnership, will you have a partnership agreement?

1.1.5 What does your company sell or offer?

1.1.6 What permits or licences do you require for your company to operate?

1.2 Locations

1.2.1 What is the site?

1.2.2 How does the location suit your business needs?

1.2.3 Does your location and facility accommodate growth?

1.3 Facilities

1.3.1 What major equipment will your company require in order to operate?

1.3.2 How is this equipment useful to you?

1.3.3 Which assets will you own, rent or lease and why?

2.1 Nature of the Industry

Describe the industry that you will be operating in.

Discuss the overall size of the industry.

2.1.1 Do you see any trends in the industry? Trends may include changes in market growth potential, consumer preference, product supply and demand, production practices and technology, and regulations. What are the possible implications of these trends?

2.1.2 Who are the current major competitors? List your top 3 and their respective locations in order.

2.1.3 How different is each competitors' product from the other?

2.1.4 How well do competitors satisfy customer needs? Are there any needs that currently remain unsatisfied? If so, what kind of importance do customers seem to place on those needs?

2.1.5 What are the strengths and weaknesses of the competitors? Consider strengths and weaknesses in aspects such as product offering, customer loyalty, vision, marketing capability, partnerships, distribution capability, price, technology, reputation, location, financial stability, experience, quality, customer service and other related areas.
 
2.2 Supplier

2.2.1 If the product requires materials to produce, how do competitors generally source their materials? Do they purchase from one main supplier or many suppliers? Are there many suppliers available? How is the quality of suppliers and how reliable are they?
 
2.2.2 What substitutes are available for your product?

2.2.3 How easy is it for a consumer to switch from the product in your market to a substitute?

2.2.4 How costly is it to enter the market? Are there requirements such as costly equipment, personnel with specialized knowledge, etc?

2.2.5 What other aspects of the industry make starting up difficult? How do you think competitors will respond to your entry into their market?

3.1 SWOT Analysis (note- out of order)

3.1.1 What are your business objectives?

3.1.2 What are your company's strengths?

3.1.3 What are your company's weaknesses?

3.1.4 What are your company's opportunities?

3.1.5 What are the threats to your company and to achieving your business objectives?