UOBUSS 2086- Entrepreneurship for Social and Market Impact Assessment Answer

 The company's unique value proposition is that it provides user-friendly, cost-effective accounting software that is tailored to the needs of small and medium-sized enterprises.

Customer Segments

Small and medium-sized firms in a range of sectors are the business's target market. The program is especially beneficial for businesses with no funding or accounting experience.

Channels

The company will leverage social media advertising, digital marketing, and joint ventures with bookkeeping and accounting organizations to reach its consumers.

Revenue Streams

A subscription-based model, where consumers pay a monthly or yearly charge for access to the software, is the company's main income stream.

Cost Structure

Software development costs, marketing, and advertising expenditures, customer support charges, and administrative overhead are all part of the company's cost structure.

Major Partners

Accounting and bookkeeping companies who can recommend their clients to the software, as well as technology partners that can assist with software development and maintenance, are among the company's major partners.

Key activities

Software development, marketing, advertising, client acquisition and retention, and customer support are among the business's core tasks.

Feasibility Study

The objective of this feasibility study is to conduct an analysis of the process of opportunity screening for possible investments and to establish whether or not the screening process is capable of being enhanced or improved (Hills & Morris, 2018). The process of making investment decisions as a whole includes this step as an essential component, and the degree to which it is optimized can have a material bearing on the level of success achieved by the investments. This feasibility study will offer an overview of the process of opportunity screening, including its components as well as potential areas for improvement. After that, it will investigate the possible advantages and costs of applying modifications to the process, in addition to the risks that are connected with such changes.

Overview of the Opportunity Screening process

The opportunity screening process consists of several processes that are utilized to examine possible investments and determine whether or not it is worthwhile to pursue them. It is an essential component of the process of deciding how to invest money, and it contributes to ensuring that investment decisions are made in the most lucrative and time-effective way possible.

Steps

Step 1: Evaluating the Potential Benefits of the Opportunity

To begin the process of screening possible opportunities, the first step is to locate and assess the potential opportunities. This entails conducting research on the market, accumulating input from customers, and gaining a grasp of the competition environment. In addition to that, it entails evaluating the possible risks that are connected with the opportunity from a technical, financial, and organizational standpoint (Pigosso et al., 2018). Evaluating any potential legal or regulatory difficulties, as well as any potential risks and benefits that are involved with the opportunity, is another part of this process.

The prospective demand for the goods or services, the competitive environment, and any potential legal or regulatory difficulties should all be taken into consideration during the market study. In the technical analysis, the technological capabilities, the availability of resources, and any potential technical hazards should all be evaluated. The estimated expenses, profitability, cash flow, and return on investment should all be discussed in the context of the financial analysis. In the last step of the organizational analysis, an evaluation of the accessible resources, the existing organizational structure, and any prospective organizational dangers should be carried out. It is essential to give careful consideration to the opportunity's possible drawbacks in addition to its advantages. This involves analyzing the markets or industry's potential for development, as well as its potential for being disrupted, as well as any possible hazards that may be linked with it. In addition to this, any potential problems with the law or regulations have to be taken into mind.

Step 2: Market Analysis

A market study requires researching the possible consumer base, becoming familiar with the competitive environment, and determining the potential demand for the product or service in question. Moreover, any potential problems concerning a market structure are identified. The study also involves an analysis of the current state of the competition and the collection of feedback from customers. This, therefore, includes investigating the size of the market, the dynamics of the market, and any prospective trends or changes in the market. In addition, the study has to analyze the potential legal and regulatory challenges that may have an impact on the opportunity.

Step 3: Evaluation of the project capability

The evaluation of whether or not the possibility can be technically realized is the third and last phase in the screening process (Dent et al., 2019). This involves determining if the required resources and technological capabilities are available, as well as determining whether or not such resources are now available. During this stage of the process, any potential technological problems are taken into consideration.

Evaluating the resources and capabilities necessary to produce and deliver the product or service is an important part of the technical study, which includes this evaluation. This involves examining the potential technical risks, such as concerns with compatibility and scalability, along with any potential security vulnerabilities that may arise. In addition to this, the analysis needs to take into account any potential problems with the law or regulations that need to be taken into account (Hills & Morris, 2018).

Step 4: Conduct a financial feasibility

The viability of the opportunity in terms of finances is analyzed in the fourth phase of the opportunity screening process. This comprises calculating the expected expenses that are connected to the opportunity, evaluating the possibility for profit, and evaluating the potential for cash flow. In addition to that, it ought to entail analyzing the possible returns on investment as well as the possible dangers connected to the financial component of the opportunity. Estimating the probable costs involved in producing and delivering the product or service is an important component of the financial analysis that should be performed. In addition to that, the study takes into account the potential for profitability as well as the potential for cash flow. The study also involves determining the possible rate of return on investment, in addition to determining whether or not there are any possible dangers connected to the financial component of the opportunity.

Conclusion

To sum up, a thorough description of the procedure for opportunity screening for possible investments has been given in this feasibility study. It has outlined the four essential elements of the procedure: assessing the opportunity's potential advantages, completing a market analysis, assessing the project's capacity, and performing a financial feasibility study. Each of these processes has been carefully examined and explained, with an emphasis on the advantages and disadvantages that may be related to each step.

Additionally, the study has looked at the risks associated with implementing such changes to the process as well as their possible benefits and costs. This has been done to see if there is room for improvement in the opportunity screening procedure. This investigation has led to the conclusion that opportunity screening is a crucial step in the decision-making process for investments as a whole and that improving its performance may have a big influence on how successful the investments are. To ensure that the opportunity screening process is as efficient as possible, it is advised that efforts be made to identify potential areas for improvement and make the appropriate adjustments.

References

Ardila, D., Kiraly, A. P., Bharadwaj, S., Choi, B., Reicher, J. J., Peng, L., ... & Shetty, S. (2019). End-to-end lung cancer screening with three-dimensional deep learning on low-dose chest computed tomography. Nature Medicine, 25(6), 954-961.

Dent, E., Martin, F. C., Bergman, H., Woo, J., Romero-Ortuno, R., & Walston, J. D. (2019). Management of frailty: opportunities, challenges, and future directions. The Lancet, 394(10206), 1376-1386.

Hills, G. E., & Morris, M. H. (2018). Entrepreneurship education: a conceptual model and review. In Educating entrepreneurs for wealth creation (pp. 38-53). Routledge.

Pigosso, D. C., Schmiegelow, A., & Andersen, M. M. (2018). Measuring the readiness of SMEs for eco-innovation and industrial symbiosis: development of a screening tool. Sustainability, 10(8), 2861.

Rachapaettayakom, P., Wiriyapinit, M., Cooharojananone, N., Tanthanongsakkun, S., & Charoenruk, N. (2020). The need for financial knowledge acquisition tools and technology by small business entrepreneurs. Journal of Innovation and Entrepreneurship, 9, 1-28.

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