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CHP 3 BUSINESS CONCEPT DEVELOPMENT PROCESS - Coggle Diagram
CHP 3 BUSINESS CONCEPT DEVELOPMENT PROCESS
idea assessment and business development process
explore & assess ideas
refine & assess ideas
go/no-go decision
prepare & implement business plan
business operation
more formal & detailed
less formal & detailed
5 steps
step 1 initial idea exploration, identification and assessment
step 2 idea/concept and scenario/model deliberation and assessment
step 3 go/no-go decision
step 4 business plan preparation and implementation
step 5 business operation
step 1
Form a project committee
Formulate general business idea(s) or concept(s)
Identify alternative business models or scenarios for the idea(s)
step 2
Further refine the business scenarios/models
Conduct a feasibility study
Analyze the feasibility study
step 3
Decide that the project is viable and move forward with it.
Decide to perform more study and/or analyze additional alternatives.
Decide that the project is not viable and abandon it.