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Assessment Task 1: Digital Business Idea Overview You are required to individua

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Assessment Task 1: Digital Business Idea
Overview
You are required to individually develop a business report for a digital
business.
The purpose of this assessment is to apply the concepts you have learnt in a
typical professional practice scenario. The assessment will help to develop
your capacity to ideate potential digital businesses and select the most
feasible one. This assessment sets the scene for the subsequent assessments in
the course in which you will form a team to create a business plan, and design
and implement the online presence for the digital business.
Learning Outcomes
The targeted Course Learning Outcomes (CLO) for this assessment are:
CLO1: Critically analyse
business problems and opportunities that can be addressed or capitalised
upon by using digital systems and recommend feasible solutions.
CLO4: Effectively
elucidate the value proposition and technical details of solutions to
non-technical business professionals.
Assessment details
As an individual, brainstorm 3 ideas at a high level to start a digital
business. Investigate the feasibility of each idea, determine which is the most
feasible, and write a business report about these ideas. The business report
should be comprehensive and include details of the businesses, the products or
services the businesses will sell, main competitors, and competitive
advantage.
You are required to submit the business report and present it to the class
in your scheduled workshop. The business report and the presentation should
primarily target potential investors for your digital business and should be
written and presented in a suitable professional language. Avoid using jargon
(whether business or technical terms) and ensure that specialised terms and
acronyms are explained if they are used.
Claims and justifications in the business report and presentation should be
substantiated with evidence through reference to existing reliable information
in reports and the Web. There are no specific number of references required.
You may use and adapt existing business report templates, however, the
following structure is recommended for the business report.
Introduction
Provide an introduction to the business report.
Digital business ideas
List at least 3 digital business ideas at a high level.
Include the business and revenue models, and the products or services the
business offers. The digital business idea must include the use of an
e-commerce website to generate income. Income generation cannot be primarily
based on advertising.
Your digital business ideas must have clear competitive advantages. This may
be because your competitors do not have a strong digital or online presence. If
your competitors do have a digital or online presence, your business must offer
a strong point of differentiation from its competitors. For example,
personalisation or customisation of products or an interesting/novel
combination of a product with a service.
Select and justify one of the digital business ideas to implement.
Digital business details
Provide the following details about the selected business to
implement:
Business name: A suitable
name for your business.
Business description: More
details about your business’ products or services.
Products/Services
List 2 categories of products or services the business will offer. Each
category should have at least 3 products or services.
Business model
Address the following components of your business model.
Value proposition
·
Why should customers
buy from your digital business?
Revenue model
·
How will your digital
business make money? Select and justify one of the major revenue models
Competitive
environment
·
Who are the main
competitors to your digital business? Ensure that you consider companies
selling similar products/services and substitute products/services.
·
List at least 3 main
competitors. Provide an analysis of each competitor. The analysis should
include a discussion of what the competitor does well in its offering and
where the competitor is deficient
Competitive
advantage
·
What special
advantage does your digital business have?
Provide at least 2
competitive advantages that your digital business has over its
competitors
You can ignore the following business model components for this assessment
(as you will address these when you form a team in the subsequent
assessment):
Market opportunity
Market strategy
Organisational
development
Management team
References
Include all references you have used in the writing of the business
report.
Appendix
Include appendices if necessary
The presentation should follow a similar structure, however, only the most
pertinent information should be presented. Where possible, visual presentation
of the information (e.g., diagrams and graphs) should be used. It is also
strongly recommended that you consult your tutor throughout the assignment (as
opposed to consulting your tutor only at the end). You can ask your tutor for
advice or feedback on your business report or presentation.
Assessment criteria
This assessment will measure your ability to:
Write an introduction
(1%)
Ideate potential digital
business, select and justify one for development (4%)
Develop a business
profile, including products/services (7%)
Identify competitors and
develop competitive advantages (9%)
Research and reference
(2%)
Present your ideas (4%)
Write coherently and
cohesively (3%)

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