New Venture Research 114596 - Ubuntu Business

You should analyze the viability of your business ideas in order to decide whether they are feasible opportunities for you to pursue. It is important for you to realize that you should thoroughly research and understand your ideas and the environment in which they operate. What may seem like a ‘brilliant and unique opportunity’ may turn into an absolute nightmare if you have not fully understood what the idea involves.

You will learn how to choose the best business start up, as well as how to choose the most viable business idea. You will also learn how to minimize risk in your chosen business environment.

Course Content

Expand All

About this course 5 Topics

Expand

Lesson Content

0% Complete 0/5 Steps

Purpose of this Unit Standard

Learner Responsibilities

Activity Instructions

Learner Support

Identify and assess own business ideas for a new venture 4 Topics | 2 Quizzes

Expand

Lesson Content

0% Complete 0/4 Steps

AC1 – An own business is discussed in terms of its advantages and disadvantages for the owner, the labour market and the business sector

AC2 – Sources and methods of access to general and commercial business information are identified for proposed business venture

AC3 – Reasons for selecting or rejecting a particular new venture idea/opportunity are explained with examples

AC4 – Essential features of the new venture are identified in terms of market share, sales volume, asset value and extent of independence from outside control

Self-Evaluation

Analyse the viability of a selected idea against specific screening variables 4 Topics | 2 Quizzes

Expand

Lesson Content

0% Complete 0/4 Steps

AC1 – The aptitude, interests and values of the potential owner are screened for suitability to the new venture

AC2 – The market conditions are assessed to determine the viability of the new venture

AC3 – An assessment is made of the competition the new venture is up against

AC4 – The access to relevant technology and other resources needed for the new venture is analysed to aid a decision on the viability of the new venture

Self-Evaluation

Research the potential of a particular idea as a new venture 5 Topics | 2 Quizzes

Expand

Lesson Content

0% Complete 0/5 Steps

AC1 – A personal profile of an entrepreneur is matched to the type of work, product or service that has potential as a new venture to ensure compatibility

AC2 – Training needs to ensure success of the new venture are identified for all persons involved in the venture

AC3 – Market research is conducted including analysis of demand for the product/service and competitor analysis

AC4 – The most suitable location of the new venture is investigated to aid a decision on the location of the new venture

AC5 – Constraints on trade and applicable by-laws are investigated to ensure that there are no legal obstacles to the establishment of the new venture

Self-Evaluation

Analyse a range of risks associated with a new venture 5 Topics | 2 Quizzes

Expand

Lesson Content

0% Complete 0/5 Steps

AC1 – The concept of risk management is explained with examples

AC2 – The potential risks and factors that may threaten the new venture are identified and analysed with a view to eliminating and/or minimising them

AC3 – The risks associated with being an employer are explained

AC4 – The possible measures to reduce risk are explained with examples from a real or simulated new venture

AC5 – The insurance and security needs associated to risks in the new venture are investigated

Self-Evaluation

Evaluate new venture ideas based on research findings 2 Topics | 2 Quizzes

Expand

Lesson Content

0% Complete 0/2 Steps

AC1 – Criteria are established for evaluating the success of a new venture

AC2 – A preliminary evaluation of the proposed new venture is produced in the form of a written report, using the identified criteria

Self-Evaluation