Bus 604 Final Paper

Final Paper - Screening the Business Idea and Business Model

Your Name

BUS604 - New Business Venture Management

Dr. Scott Shaw

05/28/2013

Introduction

The purpose of this paper is to describe an original business idea through a screening inventory. There are various aspects that the paper focuses on. First, it describes the service or product, and then it refers to the value preposition (how the needs in this market will be met). Then it refers to the business model and the criteria which supports the selected model. It then refers to the market size and also the strategy for growth, as well as methods to achieve competitive advantage. Other aspects include the description of management, projections for growth, and financial requirements. The last part of the paper focuses on creating a summary by referring to ideas that further support the business model and its potential to develop into a viable venture.

Business Idea and Description

The original idea behind this business model refers to a product in the industry of the next generation of clothing. This industry is about to expand as technology gets implemented in all important areas of human life and human development. The specific product that is created is a jacket for the autumn, winter, and spring seasons which will have inner circuits through which a fluid is circulating. The wearer of the jacket has the ability to adjust the temperature of the fluid for the purpose of providing a comfortable experience. The temperature can be set between 18 to 25 degrees Celsius.

It is very important to be the first ones entering this new market, as the market will adjust to the new trends established by this company. Being the first ones will create a privilege regarding customer's position for the company and will put the company in a strong position as long as it takes the appropriate decisions and make the appropriate changes to the strategy. The company predicts that the consumers are...