REQUIRED: This final project is team work, and it requires each team to submit ONE (double-spaced) business plan, which is no more than 10 pages in length (including executive summary, main text, and references, but you can include other information as your appendices), on the UM Learn. No late submission will be accepted.
FORMAT: There is no required format. Present your analysis in the format you think will best communicate them.
However, the business plan should start with a two-page (double-spaced) executive summary covering your proposed business idea, how you validate your ideas, and your final decision. (20%)
In the rest of your business plan, you should clearly describe
• Problem and solution (10%)
• Competitor analysis and differentiation (15%)
• Customer profile and market size (15%)
• Revenue model and pricing strategies (10%)
• Basic financials (10%)
The rest 15% is for writing and presentation, and 5% for the creativity platform.
Grading Rubrics
Two-page (double-spaced) executive summary (20%)
Covering your proposed business idea, how you validate your ideas, and your final decision.
o Describe the major actions to test your business idea (e.g., interview, survey, prototype): plans including actions which have been taken receive higher marks (up to 10%).
o Describe your future milestones by using time frame (i.e. action plans)
o Final decision: go or no go or need further test (what kinds of test do they need)
The problem/need and solution (10%)
• Clearly and convincingly describe the problem/need (with relevant backup data to show the importance of the problem/need)
• Clearly describe the solutions (specific, creative and unique solutions that have a great potential in the market)
Competitor analysis and differentiation (15%)
• Describe your main competitors that can have a large influence on your business
• Describe the benefits and features that they offer with their products/services
• Differentiate your solution from the competition and demonstrate why your solution is better than that of the competitors (with specific examples and data to support your claim)
Customer profile and market size (15%)
• Describe your target customer (description of their characteristics)
• Demonstrate the size of your target market (with specific data to back up your arguments)
Revenue model and pricing strategies (10%)
• Describe your revenue model (with convincing arguments to justify your choice)
• Describe how you intend to price your product/service (with convincing arguments to justify your decision)
Basic financials (10%)
• Highlight the key drivers of revenue and expenses
• Provide simple pro forma income statement (up to 3 years)
Writing and presentation (15%)
Need to include references (deduct 4% if there is no reference)
The creativity platform (5%)
Guideline for the creativity platform to be included in the short business plan
Step 1: A video that explains how to work with the platform is on https://www.youtube.com/watch?v=HJKDYH1bWek.
Step 2. Follow the PDF file entitled “Welcome to Omnivati - U of Manitoba Students.pdf” to create your account and a subscription for Omnivati.
For any issues/problems, please contact support@omnivati.com.
Note that we provide an FAQ in our website as well: https://omnivati.com/faq/
Please note that Omnivati is currently only optimised for PC/laptop and not for mobile devices.
Please feel free to contact me with any questions, but again, if experiencing any issues/difficulties, please contact Support instead.
Step 3. Use Omnivati to create your own project. In the submission of your written report of the short business plan, please include the following in your appendix: 1) the report generated by the platform, 2) the matrix itself.
The platform part (5%)
Major points as grading rubrics for the platform part in the short business plan:
Include 1) the report generated by the platform, 2) the matrix itself.
Are the components correct (i.e., are they real components and not variables);
Same for the variables. The purpose is to avoid confusion between components and variables;
Are the components and variables classified accurately for external and internal?
Is the identification of current independency correct? (that can be done for each matrix element that was treated by the students)
Is the new dependency correct (i.e. is it a dependency?)
Missing benefits for the defined dependency
Missing issues (problems)
Quality of the selected idea (or ideas)
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