Mid-Term Business Idea Creation Description

Mid-Term Business Idea Creation Description

For the mid-term you will need to come up with 2 different ideas from two different fields (Ex. Sports, Bio-Technology,Social Tech, etc.). Each idea must be 2-3 pages each and the paper can be double spaced with a max font of 12.

Here were some questions that were asked in previous semesters that you might also have:

Are there more specific instructions for the midterm?

Frame your ideas in a way consistent with the course structure.  You need to determine two areas that interest you (ie. technology, environment, sports, travel, etc.) and develop two opportunities that could help this field (i.e. a new device that works faster than other devices out there, a product that could be commercial viable that has a positive differentiation than other products out there, etc.) and prepare a two-three page essay on them.

What should be included in the explanation and justification for each opportunity?

Describe the product, how it will be created/developed, how it will benefit people, why people would want to use it instead of the product already out there.

Should we incorporate current events?

You may, but it is not required.

Should we use specific examples?

You may, but it is not required.

Do we need to follow a formal essay format of intro-body-conclusion?

Yes, the first part should be a quick description of the opportunity and your product/service. The second part should describe the product/service in detail and how it will benefit people, and the conclusion should be why people would want to use this product over products currently out there (if a replacement product and if a new technology/service/etc) and why you think the product/service will be successful.