Business Idea – describe briefly clearly succinctly. Use influencing points from

Question

Business Idea – describe briefly clearly succinctly. Use influencing points from the Text for and Executive Summary style description of the business /business idea/ product idea/ service idea.

SWOT – correctly classify internal from external forces. Here again the graded samples area plus the video’s provided will help demonstrate the level of performance. Must have 5 elements in each S,W,O &T for each O & T - a source cited for each O & T must be provided.

Target – Using the Graded Samples –Provide 3 demographics, 3 psychographics (how the customer thinks/values), and 3 behavioral traits (what the target does/ how they behave). There are both Business to Consumer and Business to Business graded samples provided the first day of the course.

Competition – list three (3) top competitors- there are no circumstances that exist where “no competitors” can be a correct answer to this request. There are at least 3 direct competitors or 3 indirect competitors. “No or Little” competition will have an automatic 10% reduction in grade. Provide/support reasons for each the competitors selected.

Explanation / Answer

Executive summary: My business idea is to provide creative and activity based mathematics classes for children in the age group 3 years to 10 years. Children usually dislike mathematics as a subject due to many formulas associated with this subject. The topics tend to be boring and hence students lose interest.

My business plan is to create content which will help children understand mathematical concepts by doing practical activities, without using any formula. Concepts like permutation and combination, venn diagrams, algebra, sequencing, geometry, multiplication, time and distance etc. are taught at a conceptual level.

Centers will be opened in different residentail areas. We will target cities with population more than 5 million people. Fees will be charged for the entire year at the beginning of the course.

SWOT:

Strengths - (i) strong leadership: I, founder of the company, have 30 years of experience in the field of education and teaching. (ii) committed funding from angel investors (iii) easy availability of target customers (iv) low investment on physical resources (v) strong cash flow cycle

Weaknesses - (i) the content may become irrelevant quickly (ii) high investment for staff training (iii) complexity involved in tie up with schools (iv) obtaining trademarks and copyrights is costly and time consuming process (v) limited scalability

Opportunities - (i) the idea can be gradually extended to different subjects, thus enlarging the market (ii) new technology can become an enabler and also lower costs (iii) not much dependence on external vendors as partners reduces the external risks (iv) the business model is recession proof as people do not cut down on education expenditure during economic downtturn (v) favorable demographics related to the age of target consumers

Threats - (i) new technologies and concepts may make the course content irrelevant (ii) low barriers to entry may increase competition (iii) time delays due to change in regulations (iv) emergence of substitute courses like abacus and mental maths (v) shortage of skilled manpower

Target - 3 demographics - age group 3 to 10 years, economic status - upper middle class and lower middle class, sex - both males and females.

3 psychographics - succeeder: should be goal oriented. explorer: have the energy to try new things. reformer: freedom from restriction and importance is paid to personal growth.

3 behavioral traits - creative thinking: would like to learn new methods and likes creativity. adaptable: will adjust quickly to new routines. ambitious: dedication to do the best and achieve the maximum.

3 direct competition - (i) schools themselves as schools can include such courses as part of their curriculum. (ii) coaching classes as they also can include such courses as part of their teaching methodology (iii) other such educational content creaters

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