Develop a 3-page “story” and narrative regarding the OAP. During this session, the student team should pick an idea and use the time in class to determine whether or not their idea is a true opportunity that can be turned into a scalable enterprise. You will make a presentation to your peers and develop a corresponding written report on your analysis and learning from contacting users, customers, and partners.
We recommend five basic steps in the process of analyzing an opportunity:
- Identify potential opportunities. Combine your own personal experiences and creativity with external forecasts and trend analysis. How is the world-changing with respect to new technologies? What is the impact of globalization on current solutions? What new requirements will those changes produce? Recent media articles on trends are often a good place to start.
- Define your purpose and objectives. Identify your most promising opportunity, being careful to discriminate between an interesting technological idea and a viable market opportunity. Prepare an outline that will help you to determine what types of data and information you need to demonstrate the attractiveness of your chosen opportunity.