Professional Documents
Culture Documents
Note: All fields can be expanded to provide additional space to respond to the questions. A
copy of this template, along with each of the assessment tools, is also available in PDF
format at the authors Web site at www.prenhall.com/entrepreneurship.
Introduction
A. Name of the proposed business
Micro GPS Device
B. Name of the founder (or founders)
Dr. Kamonwan
C. One paragraph summary of the business
Micro GPS device will provide customers a notice on their phone every time they
forget where they put their stuff. This technology device is a small device that
customer can attach it on his or her belonging and connect it to customers
smartphone. The GPS device will be sold through the small electronic store.
Assessment Tools
Concept Statement Test
Write a concept statement for your product/service idea. Show the concept statement
to 5 to 10 people. Select people who will give you informed and candid feedback.
Attached a blank sheet to the concept statement, and a1sk the people who read the
statement to (1) tell you three things they like about your product/service idea, (2)
provide three suggestions for making it better, (3) tell you whether they think the
product or service idea is feasible (or will be successful), and (4) share any additional
comments or suggestions.
Summarize the information you obtain from the concept statement into the following
three categories:
Conclusion (expand fields and report findings, in discussion form, for each area)
B. Product/service demand
With this product our company did a service demand by giving a customer Buying
Intentions Surveys. The survey is consist of the description of the product. As a
result, there only one people who definitely would buy our product and up to 8
people who might or might not buy.
C. Product/service feasibility (circle the correct response)
Not Feasible Unsure Feasible
D. Suggestions for improving product/service feasibility.
Be more specific on the purpose of the product. For example, how does it use.
Assessment Tools
Industry Attractiveness
To the extent possible, assess the industry at the five-digit NAICS code level your
potential business will be entering. Use a broader industry category (less NCICS
digits) if appropriate (http://www.census.gov/epcd/www/naicstab.htm).
Assess the attractiveness of the industry the potential business plans to enter on each
of the following dimensions.
Conclusion (expand fields and report findings, in discussion form, for each area)
A. Industry attractiveness
Technology industry is stay in a middle age. However, in technology industry there
are a lot of company that continually create a new innovation all the time including
with some technology that enter the industry for a long time such as phone. The
industry in nowadays is gradually growing rather than dramatical growth or shrink.
Assessment Tools
Management Prowess
Use the following table to candidly and objectively rate the prowess of the founder
or group of founders who will be starting the proposed venture.
Resource Sufficiency
The focus in this section is on nonfinancial resources. Use the following table to rate
your resource sufficiency in each category.
The list of resources is not meant to be exhaustive. A list of the 6 to 12 most critical
nonfinancial resources for your proposed business is sufficient.
An explanation of the rating system used in the first portion of the table is as follows:
1 Available
2 Likely to be available: will probably be available and will be within my budget
3 Unlikely to be available: will probably be hard to find or gain access to, and
may exceed my budget
4 Unavailable
5 NA: not applicable for my business
Conclusion (expand fields and report findings, in discussion form, for each area)
A. Management prowess
Our team management has very high passion on our product. We want it to be
successful in the future. In addition, our company has had experience in the
technology field before so it wont be very hard for us to create a new product. We
also have many graduate student from Chulalongkorn university work on product
developing.
B. Resource sufficiency
Our company has all needed resource include office space and lab space for
developing the product. We also have a contract with manufacturers who will help
us to build the product. Moreover, our product is supported by local people and
government to help Alzheimer people be more comfortable with their life. In
addition, in the future, we plan to be a partnership with smartphone market.
C. Organizational feasibility (circle the correct response)
Not Feasible Unsure Feasible
D. Suggestions for improving organizational feasibility
Assessment Tools
Total Start-Up Cash Needed
The startup costs (which include capital investments and operating expenses) should
include all the costs necessary for the business to make its first sale. New firms
typically need money for a host of purposes, including the hiring of personnel, office
or manufacturing space, equipment, training, research and development, marketing,
and the initial product rollout.
At the feasibility analysis stage, it is not necessary for the number to be exact.
However, the number should be fairly accurate to give an entrepreneur an idea of the
dollar amount that will be needed to launch the firm. After the approximate dollar
amount is known, the entrepreneur should determine specifically where the money
will come from to cover the startup costs.
The total startup cash needed can be estimate using the following table.
Total Startup Cash Needed (to Make First Sale)
Property 30,000
Vehicles -
Annual Sales
Estimate of Year 2 Sales _13,200,000 B_ selling GPS tracking device for 550B
Summary: How proposed annual sales, on 2000 device per month
average, compares to similar firms (circle one) 550B x 2000 = 1,100,000 B/month
Below Average Average Above Average (1,100,000 B/month) x 12 month =
13,200,000 B/year
Net Income
Estimate of Proposed Ventures Explanation of How the Estimate
Net IncomeYear 1 was Computed
Estimate of Year 2 Net Income _ 5,544,000 B__ cost to make 1 device = 319 B
Summary: How proposed net income, on Profit per device 550 - 319 = 231 B
average, compares to similar firms (circle one) 231 x 24,000 = 5,544,000 B
Below Average Average Above Average
According to customer Buying Intentions Surveys there only one people who
definitely would buy our product and up to 8 people who might or might not buy. And
due to Industry Attractiveness research, we found that our company is in technology
industry which is a very big industry and it continually growth in every year. Moreover,
there are a lot of competitor in the target market so, it may hard for us to push a new
company to stay in target market. However, our company has all necessary resource such
as working space include with skillful members. Besides, the startup cash needed for our
company is at 7,890,100 Baht. And as we estimate the annual sale, we can get our
original capital back when we sell for two years. As a result, our business idea is feasible.