Wickams Window

Table of Contents

1. Evaluate the potential of your group’s business opportunity…………….. 3

1.1 Identifying the window……………………………………………………3 - 5

1.2 Locating the window………………………………………………………5 - 7

1.3 Measuring the window…………………………………………………….7 - 11

1.4 Business Initiation……………………………………………………….11 - 12

1.5 Financial capital…………………………………………………………12 - 13

1.6 Closing window………………………………………………………… 13 - 15

2. Evaluate your group’s entrepreneurial competences, skills and attributes.15-20

3. Module Evaluation…………………………………………………………….20 - 22

References…………………………………………………………………………22

Appendix………………………………………………………………………...23 - 29

1. Evaluate the potential of your group’s business opportunity

1.1 Identifying the window

A business is successful depending on creating, developing and sustaining a competitive advantage in the market, as a group we decided we need a unique and valuable product to take to the market place. As a group we put forward various business ideas these ranged from websites to mobile phone apps we decided upon flexible water bottles by using the marketing tool SWOT, this is a structured planning implement used to analyse the Strengths, Weakness, Opportunities and Threats of a product, it will identify the internal and external factors that will affect the success of the chosen product. Strengths are elements that will give an advantage to the business, Weaknesses is identified as anything that will put the business at a disadvantage, opportunities is recognized as elements of the product that can advantage the business, Threats are elements in the environment that can harm the business. By identifying all these elements that can impact the business we can make an educated and informed decision on product choice to achieve our business objective. 

Our initial business idea we discussed was a ‘University of Liverpool Accommodation’ app, this would be an app free to download to...