Entrepreneurial Discovery Report

Once you have cleared your business/entrepreneur(s) with the Instructor, start your research to get a better understanding of both.  Focus should be in the following areas:

Entrepreneur(s): Personal, professional and academic background; entrepreneurial characteristics; previous successes and failures; sources of initial startup money; any key support people.
Business: Overview of products and services offered; the past, present and future of the company and industry; their target market; marketing and pricing strategies; top brand and product line competitors.

Students must use, cite and reference (APA Style) no fewer than five trustworthy sources in their written report.
 

Each student must detail their findings on their business and entrepreneur(s) with a written report.  There are no requirements as to format or page length, but each report include reference to each of the following highlighted topics:
 
The Entrepreneur & Business Idea
Define the entrepreneur(s) that founded the business, their professional background that led them to entrepreneurship, and their journey in creating/developing their product(s) and/or service(s).

Characteristics and/or misconceptions of an entrepreneur (Ch. 3)
Drucker’s Sources of Innovation

 
Market Economics & Future of the Industry
Explain the current market economics for the industry in which the business operates in addition to the industry’s projected life cycle.  Make reference to specific tactics used by the entrepreneur(s) to initially break in to the market as well as current strategies being used by the company to stay relevant as the industry changes.

Drucker’s Entrepreneur Strategies for the Market
Life cycle of the industry

 
Competition
Describe the company’s closest competitors within the industry, as well as possible product-line competitors.  What separates them from their competition?

Reference specific product-line and brand competitors
Competitive differentiation

 
Target Market
Characterize the company’s typical customer, suggest why they target such consumers, and why (or why not) their target customer varies from industry competitors.

Target market/segment
Market positioning in relation to competitors

 
Conclusion
In summation of findings, predict the future success of the business and its industry as a whole.  Describe societal trends, technological advances, and economic shifts that will create product/service modification, lead to expansion, or threaten the industry.

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