Innovation and Entrepreneurship

Level 6

Learning outcome 1: Evaluate the main theoretical principles which underpin the study of Entrepreneurship and Innovation.

Learning outcome 2: Critically analyse the linkages between innovation and entrepreneurship within a variety of profit and not of profit organisations.

Learning outcome 3: Critically evaluate the variety of entrepreneurial processes relating to new business creation, within larger firms (intra-preneurship), control procedures and exit strategies.

Learning outcome 4: Evaluate the concept of entrepreneurial strategy.

Learning outcome 5: Analyse the relationship between Entrepreneurship and the wider environment, including government policy.

Task/assessment brief:

A feasibility study is the preliminary stage of any business plan. It is steered in order to factually identify the strengths and weaknesses of a proposed project or an existing business. It helps to identify and assess the opportunities and threats present in the natural environment, the resources required for the project, and the prospects for success.

Feasibility studies help project managers determine the viability of a project or business venture by identifying the factors that can lead to its success. The study also shows the potential return on investment and any risks to the venture's success.

Aligning with the strategic objectives of Vision 2040, students are required to identify a novel idea and develop a feasibility report for the identified business with an initial investment not exceeding 150,000 OMR. The business idea should be selected from any of the following industry

• Tourism Sector
• Logistics and Transport
• Health Care
• Renewable Energy and Sustainability

Prepare a 2000 words Feasibility report of a new and innovative business idea that can be developed in the local Oman market.

Introduce the business idea with the specific objectives of the business. (200 words Introduction; 100 words objectives)

Evaluate the project on Market feasibility criteria such as Potential market, potential customer, existing competition, etc. (300 words)

Evaluate the project on financial feasibility criteria such as estimation of capital, costs, revenue, etc. (300 words)

Evaluate the project on operational/technical feasibility criteria such as product features, plant capacity machinery requirement, and supply of materials, etc. (300 words)

Evaluate the project on organisational feasibility criteria such as organisational structure, manpower estimations, authorities, responsibilities, etc. (300 words)

Identify the skills and knowledge learned from the task with reflection on the use and application of these skills and knowledge. (250 words)

Summary of the feasibility findings based on market, financial, technical, and organisational feasibility.