Entrepreneurial Studies Opportunity Recognition Project:
Group Paper Overview:
The Opportunity Recognition assignment is a team assignment based upon the team’s industry of interest, which is Cryptocurrency&Blockchain. Each team will research a specific industry(Cryptocurrency&Blockchain) through PRIMARY and SECONDARY research and identify three specific opportunities within that industry. The goal is not to write a business plan, but rather focus the project on the one specific opportunity within the industry that is the best concept and explain why it will most likely succeed.
*This group paper should offer unique insight. Include information for explanatory/analytical purposes.
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Overall Structure of the Group Paper(with grading sheet):
OPPORTUNITY: The opening paragraph will show the opportunity (clearly written concept statement) that you believe has the greatest chance of success and why 30 – 50 ________
What is driving this opportunity? 30 – 50 ________
Address the following key issues:
a) Describe industry today, size, major players, benefits provided, and distribution channels
b) What changes have occurred in the industry over past five years
c) What are the changes in the industry expected in next five years
d) Describe the niche you are exploring and why. What are the differentiators?
e) Conclusion: unmet needs/pains; who has them; where can you make an impact 30 – 80 ________
VALUE CHAIN ANALYSIS: Trace the industry forward from its origin (raw materials) to its ultimate consumption and identify at least two separate channels of distribution. Identify the cost for each step per unit of the value chain. Prepare a graphic representation of your product/service value chain from raw material to consumer. Show a complete understanding of how this product/service flows from beginning to end user. 30 – 60 ________
What did you learn from analyzing the value chain and where the entrepreneurial opportunities exist. One page of diagrams to show the value chain and two distribution channels 30 – 60 ________
PATTERN of CHANGE: What is the ONE major change which is the greatest interest?
How will you capitalize on this ONE MAJOR CHANGE that is occurring in your industry? 30 – 60 ________ (Task Section)
WORKING CONCEPT GRID: Prepare a concept grid listing all of the alternative customers you are considering, the means by which you will reach each of your potential customers and the benefits you will transfer to them. 30 – 60 ________ (Task Section)
THREE CONCEPTS: Identify three concepts within your industry worthy of pursuit.
(One paragraph for each concept)
– What are the pains and unmet needs
– Feature/Benefits – what are 3-4 features/benefits of each concept
– Distribution – how will each concept reach your customer
– Revenue Model – how will you make money from each concept 30 – 80 ________
BEST CONCEPT: Select “best” concept and tell why it will succeed. 30 – 60 ________
Bibliography, PPT Presentation (3 per page), primary and secondary resources 30 – 40 ________
TOTAL SCORE: 300 – 600 _______
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Individual Task(My Task in this group project):
So for this Entrepreneur group project, you will do research on the Cryptocurrency&Blockchain industry and write the following TWO SECTIONS of the group paper:
PATTERN of CHANGE: What is the ONE major change which is the greatest interest? How will you capitalize on this ONE MAJOR CHANGE that is occurring in your industry(Crypto&Blockchain)?
WORKING CONCEPT GRID: Prepare a concept grid listing all of the alternative customers you are considering, the means by which you will reach each of your potential customers, and the benefits you will transfer to them.
*These two parts of the paper should offer unique insight. Include information for explanatory/analytical purposes.