Chapter Name: Evaluate new venture ideas/opportunities based on research findings
Description:Synthesizes research to make informed decisions.
Purpuse:To select the most promising business opportunities.
Rational:Evidence-based evaluation leads to better outcomes.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Evaluate new venture ideas/opportunities based on research findings
Learners are expected to draw conclusions from their research and make informed decisions about the viability of a business idea or opportunity.
Assessment Questions
Assessment 1 : Criteria are established for evaluating the success of a new venture.
Learners must identify and define the criteria that will be used to measure the success of their new venture.
Assessment 2 : A preliminary evaluation of the proposed new venture is produced in the form of a written report, using the identified criteria
Learners will conduct a preliminary evaluation of a proposed new venture idea or opportunity. This will involve applying relevant business evaluation frameworks (e.g., SWOT, PESTLE, market and competitor analysis, feasibility studies) based on secondary and/or primary research findings. Learners are expected to identify, analyze, and synthesize data to make informed judgments about the potential of the venture. This evaluation will be presented in a structured written report.