Assignment 1: Forming an Innovative Business

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Go to the Wall Street Journal’s Website and read “And the Most Innovative Entrepreneur Is...”, located at http://online.wsj.com/article/SB10001424052970203716204577013501641346794.html. After reading the article, conceive an innovative idea for a new product or service. Imagine that you are going to start a business that offers that product or service.

 

Write a six to eight (6-8) page paper in which you:

1.     Briefly describe your innovative idea.

2.     Determine the business structure that would be the best choice for your venture. Support your decision.

3.     Create an outline of the stages in the entrepreneurial process that you would need to follow when starting this business. Determine the resources and tools you would need to be successful at each stage.

4.     Determine the market for your innovative idea. Include details on regarding your potential customers, the predicted size of the market, and the competitors that already exist in the marketplace.

  1. Create an action plan that describes how you would overcome any foreseen barriers to your venture’s success.
  2. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

 

Your assignment must follow these formatting requirements:

 

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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