ABD 703 Creativity, Innovation and New Venture Creation
  • Question / Requirement

National Diploma in Business and Enterprise Management Level 7


Abacus Institute of Shades


The purpose of this cour

potential to grow and create strate creative potential

use of this course is to develop the ability to recognise and evaluate market ties, and create innovative and viable business ideas or concepts that have

grow and create strategic value, through the exploration of one’s own

You will be assessed in this performance in producing a feasibility stu

be assessed in this unit standard against on the basis of demonstrated

mance in producing a feasibility study report for an existing business or a usiness idea or concept relevant to your own interests or goals.

Note: Your analyses, facts and informa

Our analyses, facts and information are produced and presented in the form isibility study to inform decision-making regarding the viability of the venture.

(ER 6.1)


COVER PAGE Use an appropriate ‘Cover Page’ provided by your course tutor/s.

EXECUTIVE SUMMARY Provide an ‘Executive Summary’ for your report, clearly demonstrating the background for this report, key analytical issues, strategic choices to be

adopted, key recommendations highlighting a summary of the report. TABLE OF CONTENTS Use an appropriate table of contents, which should include all your headings and subheadings along with table/s or figure/s to be titled that are already in the report. An automatic contents page can be generated when heading styles are used in MSWord.

Commented [MR1

1.0 Business introduction/background

Write an introduction for the existing business/or the business ideal or concept you have chosen to investigate in your report.

2.0 Market need/opportunity

Identify a market need or opportunity by analysing the current market situation based on the following dimensions:

customer wants, needs and preferences competition market growth and profitability potential other relevant (if any)

National Diploma in Business and Enterprise Management Level 7

Abacus Institute of Studies


3.0 Idea generation

In light of above analysis, provide at least 2 (TWO) creative ideas capable on addressing the identified need or opportunity. Remember, these creative ideas can be in any of the following forms:

product, or service, or process, or concept, or combination of all above, or other suitable

4.0 Idea evaluation and selection

(ER 1.1)


Analyse and evaluate the above creative ideas for their potential to be developed as opportunities for value creation.

(ER 1.2)

4.2 From the above analysis and evaluation you conducted in Q4.1, select and justify the idea that you recommend to be adopted as a potential venture.

(ER 1.3) 5.0 Market feasibility


Under the following headings, analyse the above selected idea for its type of innovation:

• incremental innovation • disruptive innovation, • breakthrough innovation • sustaining innovation, • other


In light of the above, discuss degree and scope of innovation and in terms of the innovation life cycle.

(ER 2.1)


Under the following headings, analyse and assess the selected idea for its market potential, scope and viability for value creation.

• target market attractiveness and profit potential • point-of-difference and consumer value addition

likely consumer adoption • other

(ER 2.2)

6.0 Organisational feasibility

National Diploma in Business and Enterprise Management Level 7

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