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1. The identification, development and evaluation of business ideas 1.1 James is a very accomplished golfer and has many qualifications in product design. He currently works in the finance department but wants a career change. He is not sure what he wants to do and has asked you to assist. Explain to James how to go about identifying a feasible and viable business idea. (16 1.2 Describe the methods one can use to improve creativity, (6 1.3 Describe the theory related to generating business ideas from everyday activities. (7 129 2. The feasibility and viability of a business idea 2.1 You have an idea to start a business manufacturing and marketing sports clothes. Determine the feasibility of your business by using the four questions suggested in your textbook. Make use of the rating scale to indicate your choice. (5 2.2 Describe the theory on market segmentation and describe how you would select your target market? (8 2.3 Melinda intends selling snacks and soft drinks on a part- time basis at a university where there are 2400 students and the average annual income per student is RI 200. On average the students spend 20% of their income on snacks and soft drinks. Melinda is convinced that she will attract 5% of the market share. There is a cafeteria on campus and other competitors off campus. Show all the calculations in your assignment and interpret the final answer. (8 121 Total 150

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