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ASSIGNMENT INTR
ASSIGNMENT INSTRUCTIONS:
One of the six pitfalls when selecting new ventures is lack of venture uniqueness. The potential investor that George is seeking has referred to his operation as a “me too pizzeria” and is predicting his demise. Pizza is sold through chain stores (Pizza Hut, Papa John’s, Little Cesar’s etc.) small independent shops and some grocery stores. It is a proven product and does not come with a very high sticker price. Is there any truth to the potential investor’s comment? Is the lack of uniqueness going to hurt George’s chances of success?
Uniqueness is not the only factor that needs to be considered when evaluating the feasibility of a new venture. Using the feasibility criteria approach analyze George’s proposed new venture. Given that there is very limited information presented, your analysis may consist of the questions that need to be answered to make a determination of the ventures success.
In addition to the uniqueness feature, what other critical factors is George overlooking? Identify and describe three, and give your recommendations for what to do about them.
You are strongly encouraged to perform additional research to supplement your analysis (above and beyond the assignment details). Using the course materials as references will be considered additional research.
Your paper should be 12 font, Times New Roman, double spaced. To cite your sources please use APA formatting. The paper should be a minimum of 3 pages (not including cover sheet, table of contents and reference page-if all provided). This assignment is due at the end of Week 4. Any submission past the due date will receive an automatic 15% deduction.
HOW TO WORK ON THIS ASSIGNMENT (EXAMPLE ESSAY / DRAFT)
Introduction: The food industry has always been a competitive market, with various businesses offering similar products and services. One of the biggest challenges for new ventures is the lack of uniqueness, and the potential investor that George is seeking has referred to his operation as a “me too pizzeria”. In this essay, we will analyze the feasibility of George’s proposed new pizza venture by using the feasibility criteria approach and evaluating the potential challenges that come with lack of uniqueness.
Body: First, we will evaluate the truth behind the potential investor’s comment and examine the impact of the lack of uniqueness on George’s chances of success. To determine the feasibility of the new venture, we will use the feasibility criteria approach and analyze the various aspects of the business, including the market, the product, the resources, the technology, and the management.
Next, we will identify and describe three critical factors that George may be overlooking in his new venture. These factors could include the competition, the target market, and the marketing strategy. For each of these factors, we will provide recommendations on what George can do to overcome the challenges and increase his chances of success.
Conclusion: In conclusion, the lack of uniqueness is just one of the many challenges that come with starting a new venture. By using the feasibility criteria approach, we can evaluate the potential challenges and identify the critical factors that need to be addressed. With careful research and planning, George can increase his chances of success and overcome the challenges of starting a new pizza venture.
Note: This is just a draft, and the final paper should be more comprehensive, with additional research, references, and in-depth analysis of the challenges and recommendations.
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