Innovative Business Idea Research Paper
YOUR INDIVIDUAL RESEARCH PAPER Driven by your own research, analysis, X170 instruction, and excellent writing, please plan, draft, and submit a 5-7 page individual research paper pitching your own innovative business idea that meets a need in today’s marketplace OR an innovative idea you find in a current Kickstarter project online. Your paper should include clear and concise writing, draw from at least ten varied, credible, and recent sources pulled primarily from scholarly online databases (that you cite in APA style), include relevant tables, charts, and/or graphs you find online revealing key data you also explain in the paper, benefit from thorough proofreading, and be formatted in single-spaced paragraphs with double spaces between paragraphs in 12-point font. Your intended readers for this paper are potential investors who might offer financial support to make your innovative idea a reality: write the paper with them in mind as you use a persuasive tone that explains and sells this innovative idea.
IN 5-7 PAGES, EXPLAIN AND PITCH YOUR BUSINESS INNOVATION IDEA Let the questions below guide your paper: explain a project you like that you believe offers good market potential. Remember, you can select your OWN business idea OR a Kickstarter project.
1) Problem/Opportunity: What is the innovative idea? Explain it clearly. What need does this innovative idea seek to fill for its target market? How is it different from similar products/services already on the market? How does this difference overcome its late market entry?
2) Marketing: What are the most relevant customer segments that will find this idea attractive if it goes to market? How will the idea create value for these customers? Who are this innovative idea’s most threatening competitors in the marketplace? What evidence reveals this threat most convincingly? What benefits will your innovative idea offer customers that existing products/services do not?
3) Strategy/Management: What wider social, cultural, economic, technological, regulatory, or natural trends will most influence the eventual success or possible failure of this idea on the open market? Will the market for this idea grow over time? What evidence supports your claims about the current and future potential of this idea in the marketplace? What are the key management/human resource concerns for this business idea initially and during future growth phases?
3) Operations: What are the key activities and resources required for this business? Can you identify the bottleneck in a key process for this business? How would you improve the bottleneck if you need to increase capacity?
4) Finance: Business initiatives typically seek to earn profits as they bring value to their communities. What initial investment might be needed to develop and implement this idea? What ongoing (fixed + variable) expense categories should investors expect when the idea launches? How much revenue might an investor expect it to generate in one year? When will the business generate positive cash flow—in one year or longer? When could investors (or owners) expect a return on their investment?
My word count is going to be less than 5 pages single spaced because of the charts and graphs that will need to be added to this paper. If you type 1500-1600 words plus adding any pictures and graphs that you find to make it 5-7 pages that would be fine. If you have any questions let me know. I am a freshman so I don’t need it to sound too sophisticated.
