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Implementation of New Business Ideas Lesson Plan 4 - Background Research
Using a feasibility report and working in groups, students role play advisors for a potential investment opportunity.
Connect the Learning
Recap on the previous lesson which looked at business plans.
The Big Picture
This lesson looks further into prior preparation before launching a business.
By the end of this session, students will understand the importance of carrying out a feasibility study and research into the market about, and issues related to, a new product.
Display accompanying PowerPoint – first slide. Discuss the types of research that are needed before they start to move on with their ideas.
Display the last slide that displays the scenario. A friend asks you to advise whether he should borrow (£20,000) to become a partner in a new business producing a new MP3 player. How will you advise him?
Students read through the ‘Case study - Feasibility report.’
Split the class into groups of four or five. Each group is a separate business advice unit. First, each group has to work together to decide what their attitude is to an investment in the new venture.