COMM 200 Lecture Notes - Lecture 15: Business Plan, Market Risk, Market Segmentation
27 Nov 2017
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Document Summary
The ability to assess the financial and market risk associated with a business venture is critical to the evaluation process. A key to this assessment approach lies in the search and identification of fatal flaws which could potentially derail a venture in its early stages. Fatal flaws inclue inadequate pricing models, undercapitalization, weak management competencies, insufficient marketing research initiatives, poor understanding of industry configuration and market segmentation or the absence of a well-focused execution strategy. Existing business (business venture defining new market space) By planning, organizations create a definitive path as to how to navigate through the through risk and uncertainty and define how to respond to the critical issues. New venture assessment focuses first on the development of the business plan which describes the business, assesses the opportunity, defines the strategy, details management expertise and operational/marketing based tactics, provides financial validation and explains why you will succeed. Review the market, your competition and market position.
