BUSM 2306: The Entrepreneurial Process

Group Research Report

Information Sheet and Marking Criteria
Each group will need to submit a hard copy of your report to the designated SIM
assignment drop box by no later than 7:00 pm local time on the due date of
submission (week 9). You should also submit a soft copy of your report to the link at
myRMIT by no later than 7:00 pm local time. Your local lecturer will confirm the
exact due date of submission.
The report must be either spiral bound or securely stapled with the standard RMIT
School of Management cover sheet attached (available on-line).
Length:
appendices)

4000-5000 Words (excluding prefatory section, references and

Total Value: 40%

Report Due: In week 9 (Date to be confirmed after consultation with SIM staff after
session 3)
Purpose:

The purpose of this assignment is to

1. Gain knowledge of specific issues related to feasibility analysis and

entrepreneurship
2. Develop research skills
3. Develop skills in critical thinking and analysis
4. Develop skills in writing research reports
Feasibility analysis assignment
The purpose of the Feasibility Analysis is to gain insights into the viability of a
business idea and to make sure that you are on the right track. Two basic questions
need to be answered with the analysis: 1) Is there sufficient demand for the product or
service? 2) Can the product or service be provided on a profitable basis; or if the
product or service is aimed at creating social good, can it be offered on a sustainable
basis?
*Please note that in order for you to receive a good grade, you will need to refer
to theory and trusted information to support your proposed business idea
throughout your assignment. Excuses such as I know there is demand for my
product/service because I have worked in this industry, is not acceptable.
Failure to reference ideas/theory will result in a lower grade*
In a team of 5 students, you are required to prepare a written feasibility analysis (20
pages on an average excluding references, Times New Roman font, Size 12, 1.5
spacing). In the analysis, you should address at least the following issues:
1. The Business Idea
Description of your business: What problem are you solving or what opportunity are
you realizing?

Product/service description: Describe the benefits of your product(s)/service(s).

Explain the service/product design. You are encouraged to include a prototype (for a
product) or a service blueprint (for a service).
Description of the entrepreneur/s and the venture team: Evaluate whether you and
your management team possess the characteristics required to make the proposed
business successful.
2. The Industry and Market
Current industry: Describe the industry as specifically as you can. There are some
excellent sources in the RMIT library that can help you determine the size of the
industry, average sales and profitability for the industry in a number of Asia Pacific
countries. Please also refer to Statistics Singapore, Data Storage Industry, Asia
Monitor, Business Monitor Singapore etc. and other reports available via the library
database and industry associations.
Market potential for this industry: Is the industry in a period of decline, stability or
growth? What were the trends in the past 5 years? What is the market demand going
to be like in the next 1-4 years? Talk to people in industry as well as potential
customers for their ideas about where the industry might be headed. Consider how
technology or the global economy might affect the market potential for the business.
Research the demographic, economic, natural, technological, political and cultural
trends in the industry (This may be presented in table format).
Competitors (Direct): Competitors in the same innovation field, the same or
substitutable categories, e.g. other bike manufacturers. What are their distinct
advantages and disadvantages?
Competitors (Benefit): Competitors who are using a different method (product or
service) to satisfy the same need for the same end users/consumers, e.g. other means
of transport and/or exercise which compete with bikes (these are also considered to be
indirect competitors which might be selling substitutes for your products/services).
Target market/customers: Who are your customers? Are they businesses or endconsumers? What are their preferences, values, attitudes that relate to your business?
How will you find out what your customers think or intend to buy? How can you find
out what problems they have, what they need, or what they want that they dont know
yet! If you have more than one target market, do this for each market segment. It is
important to note the different benefits and limitations for each customer group.
Penetrating the market: How will you reach your target customers? What forms of
distribution or selling will you use? How will your potential customers become aware
of your business?
Stakeholder analysis: Who are the key stakeholders in the business?
3. Business model analysis
Revenue sources: How many different revenue streams will the business model
generate? What is the source of each revenue stream (sales, service fees, advertising,
subscription)? What is the relative size and importance of each revenue stream? How
quickly is each revenue stream likely to grow?
Cost drivers: What cost drivers have the greatest impact on the cost structure? Are
the costs fixed, semi-variable, variable or non-recurring? What is their relative size
and importance? Will the cost drivers change over time?

Resource requirements/mapping: What resources (e.g., human, physical, financial)

are needed? Where will you source it from? How much will it cost?
Investment size: How much cash is required to launch the business model? What are
the timings of these cash needs?
Critical success factors: Which elements of the companys business model are most
important to achieving profit goal? Which of these elements are most difficult to
execute? Will they change over time?
4. Future action plan
Sources of start-up capital: Where can you obtain the money you need to start the
business? Consider all sources available to you, such as personal savings, family and
friends, bank loans, investors etc.
Further information needed: What are you uncertain about? Whom could you ask?
Where can you find this information?
Support needed: List the individuals or groups you could consult for advice.
Consider developing an advisory board consisting of people with experience in your
industry and professionals from other industries whom might be expert marketers, for
example. Do you have an attorney, accountant, website designer etc. who could help
you when needed? Make a list of all the supporting actors your business may need in
the future. Please understand that completing this kind of an assignment with your
team will take plenty of time, and you have to find this time outside of the classroom.
I suggest you start working on the various parts of the analysis as soon as the teams
are formed. If you run into problems on the way please do not hesitate to ask for help.
However, do not expect this help to be available the last day before the assignment
deadline.
Please remember that as you write the Feasibility Analysis, that the whole purpose for
this document is to assist you in assessing whether or not to move on with your
business concept. If at the end of a rigorous feasibility analysis it looks as if your idea
is not feasible that is acceptable. Like most entrepreneurs, you have tons of ideas
and the nature of the Feasibility Analysis is to ensure that you embark on your path to
realize tremendous success. If a few ventures do not pass the test, then this is fine. We
all have options and we must be very careful not to fall in love with the first, or
second, idea that pops into our heads. The primary purpose, therefore, of the
Feasibility Analysis is to act as filter or screening device.
Important:

Each group must attach their interview schedules used for collecting data, and
the contact details of the entrepreneurs with their reports
Your report must be typed and double spaced with a font size of no smaller
than 12 points Times New Roman or 10 point Arial for clarity.
Sources of information must be consistently and comprehensively referenced
throughout the report.

Group Size
The standard group size should be 5 students. Only in exceptional
circumstance, 6 members will be allowed in a group, subject to the approval of
your local lecturer.

Report Structure
Essentially your report will contain three sections: (1) Prefatory, (2) text, and (3)
supplemental.
In general, following points are to be noted in preparing your report:
Prefatory Section
1. This states information that identifies and introduces the report to the reader. It
tells the reader what to expect. Five common parts of the prefatory section are:

Title Page
Acknowledgement
Executive Summary
Table of Contents
List of Figures and Tables

Body/Text
1. The body of the report presents a logical argument that supports the main theme or
proposition. The body must be consistent with what you have said you are going
to do in the introduction. Usually the body of the report can be organized in
various chapters as below:
Introduction, Objectives, Scope, Limitations of the report
Research Methods
The Business Idea
The Industry and Market
The Business Model
Conclusions
Future Action Plans
2. Within each chapter, you can have main headings and sub-headings that should be
numbered accordingly. Each paragraph should have a topic sentence, and the
points you are making should reflect that topic sentence.
3. In presenting your results, you need to refer to theory and supporting primary
and/or secondary data to explain your argument.
4. Remember that you are trying to present a logical, cohesive and clear analysis of
the key issues that you have investigated in assessing viability of your business
idea.
5. DO NOT TRY TO WRITE EVERYTHING THAT YOU KNOW ABOUT THE
TOPIC IN THE HOPE THAT SOMETHING WILL BE GOOD.
6. A conclusion is not just a list of the key points you have made. You need to draw
together your key points to demonstrate that you have supported your position or
proven your assumption(s).

7. The conclusion and future action plans need to be consistent with the analysis of
the report.
Supplemental
This section contains additional information that the reader finds useful. The
supplemental section of your report must contain the followings:

References which is a formal listing of the sources cited in the feasibility

analysis report that may include books, journal articles, and other statistical
and industry reports.
Appendices that contain related and supportive items such as, contact details
of the key informants, photographs, sample brochures etc.

General points about the report

1. You can use headings, but use them sparingly. Headings only add value if they
assist the reader in following the logical argument.
2. Poor spelling and grammar detracts from your ability to build an argument.
CHECK BOTH GRAMMAR AND SPELLING THOUROUGHLY.
For more details about the report structure, see page 59-61 of Chapter 3 from your
prescribed text as below:
McMurray, A., Wayne, R. and Scott, D. (2004), Research: a commonsense
approach R. Pace and Don
Academic Integrity
You are responsible for ensuring that your written report correctly acknowledges all
sources used. Information on citing references is available in the Learning Lab at
https://www.dlsweb.rmit.edu.au/lsu/. Compliance with these guidelines encourages
good academic practice and minimises the risk of plagiarism and the penalties which
may follow from the detection of plagiarism.
Turnitin Software
It is suggested that you use turnitin software to check that your work meets RMITs
standards of academic integrity. Turnitin instructions are available at
http://mams.rmit.edu.au/zdrig5rjsxnqz.pdf. Turnitin can be accessed through
myRMIT. Turnitin will check your assignment for originality and will generate a
report indicating areas in which the content overlaps with other academic papers and
student assignments. Do not include the cover sheet or references when you submit
the assignment to Turnitin as they will distort the report. By inspecting the report you
should be able to determine whether your report would be acceptable as
predominantly your own work. Please take care to allow time to submit your report to
Turnitin so that you have time to review your work before submitting the report by the
due date prescribed.

Hard copy submission

You are required to submit a hard copy of your group report by 7 pm to the SIM
assignment box on the due date set in week 9. A signed assignment cover sheet must
be attached to each report. The due date will be confirmed by SIM staff and your local
lecturer after session 3. Any late assignment, unless granted an extension by the
course coordinator (see below regarding extensions), will be penalised at 10% of the
assessment weighting for each day after the due date. No assignment will be accepted
more than seven calendar days late without Special Consideration (see below).

Soft copy submission

You must also submit a soft copy of your final report through the assignment link in
myRMIT by no later than 7 pm local time on the due date in week 9.

BUSM 2306 Feasibility Analysis Marking Guide

Value 40%
Students: __________________________________________________________________
Class: _________________________
Not at all
(0%)

Criteria

Date: __________________________
A little
(1-49%)

Adequate
(50-59%)

Good
(60-69%)

Very Good
(70-79%)

Exceptional
(80-100%)

The Business Idea: 10%

Description of your business
Product/service description
Description of the entrepreneur and
the venture team)
The industry and market: 40%
Current industry
Market potential for this industry
Competitor analysis
Target market description
Market penetration
Stakeholder analysis
Business model analysis: 25%
Revenue sources
Cost drivers
Resource requirements/mapping
Investment size
Critical success factors
Future action plan: 10%
Sources of start-up capital
Further information needed
Support needed
Executive Summary: 5%
Report Itself: 10%
Use of business report format
Clarity of expression
Spelling, grammar, syntax
Evidence of wider reading
Appropriate number of references
Correct use of referencing
* Note 1: Although this section is technically worth only 10%, students who do not use references
correctly (they must be cited throughout the body of the report), or who are unable to
express their points with any clarity, risk receiving a mark of zero for the whole
assignment.