Task
With your team of no more than five members prepare a full Opportunity Assessment and Feasibility Report that outlines the potential of a technology or business concept of your team’s choice to form a new venture. IMPORTANT: This is not a business plan but a comprehensive analysis of a business idea/concept that recommends whether the idea provides an arguable business opportunity before proceeding with full business planning and business start up activity
Potential Technology :Home automation technology
My part in the report
Methodology:
discussion on method of analysis for feasibility study
Return on Investment (ROI) analysis for comparing overall profitability
ROI = Estimated lifetime benefits – Estimated lifetime costs Estimated lifetime costs or
ROI = Net Present value / Estimated lifetime costs
SWOT Analysis
- STRENGTHS WEAKNESS MAINTAINING THESE STREGTHS OVERCOMING THESE WEAKNESS
What can do for maintain these strengths?
What should I do to overcome these weaknesses?
- OPPORTUNITIES THREATS TAKING ADVANTAGE OF THESE OPPORTUNITIES OVERCOMING THREATS
What can I do to take the advantage of these opportunities?
What can i do to overcome these threats?
Overview of alternatives
- Possible alternatives
- “Sticking with the current system” should always be studied as one alternative
- Different business processes for solving the problems
- Different levels/types of computerization for the solutions
- Advantages and disadvantages of the alternatives
- The major possible alternatives should be discussed and compared using clearly defined criteria.
