Developing a Business Concept.

$1.$ Submit a business idea using the following format:

$1.$ Background of the Idea: Briefly and concisely explain the history of how the idea came about and how the business you propose can help society.

$2.$ Description of the Idea: Present a summary of the business idea. Describe in detail the proposal and the reasons why it is considered to be truly successful. Particularly, the innovation contained in the idea must be highlighted, as well as the attributes of the goods or services that differentiate them from possible competition.

$3.$ Market Segment:

$1.$ Explain the current conditions of the industry or sector in which the venture will be developed, background and future trends that can be foreseen. The importance of the industry or sector at a national and$/$or local level must be highlighted.

$2.$ Analyze the rivalry between competitors. Regarding the market, determine who the recipients of the product would be $($final consumers, companies, public administration or other types of organizations$).$

$3.$ Estimate the size of the potential market based on the possibilities of accessing the local or international market.

$4.$ Competition:

$1.$ Identify who your direct and indirect competitors are.

$2.$ Describe the essential characteristics of the competitors.

$5.$ Business Strategies: Briefly explain decisions related to the product and$/$or service such as the brand to use, packaging, among others; estimated prices; distribution and communication design.

$6.$ Development Plan

$1.$ You must present a table in the document where you present the action plan to be developed and what actions you will take.

Stage Action to Take Observations

Identification of the business opportunity

Market research and search for technical information to implement the project

Product development $($analysis of technological alternatives, design, budget, prototypes, and tests

Establish parameters of type by stage

Contacts to materialize the plan. $($Investors and$/$or organizations

$8.$ Product and$/$or Service Launch Time: According to your analysis, indicate which factors must be taken into account to define the correct moment to launch the business.

$9.$ Financial Aspects: Present an estimate of the investment necessary for the development of the business. Please include a table that includes budget, cost estimates and sales.

$10.$ Business Impact: Describe what the economic and social consequences will be that may arise as a result of the success of the business to be presented. Detail benefits for consumers, for the environment