METHODOLOGY ASSESSMENT 8 - Venture Creation: The Path to Viability - Introduction and Economic Feasibility

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Ideally, when you begin to work on the Proof of Concept stage of venture development, you are just entering the ____________________ stage of organizational development for the venture.

The Proof of Concept stage of venture development involves creating a/an __________________________________ for your business or venture.

Creating a working prototype can help you move from the Seed stage to the ________________ stage in the development of your venture.

The goal during the Idea stage of venture development is to _______________________ your idea or business opportunity, and to show the potential for scalability of your product or service for a large enough target audience.

During the Seed stage of venture development you will follow a/an ________________ process to develop and prove your concept. In all likelihood, you will need to adjust your idea, product/solution, and business model multiple times based on the results of repeated pilots and assessments during this stage.

Early in the Seed stage you should plan for how to get to the Start-up stage of your business or venture. You should define a clear direction from Seed stage to Start-up stage, a journey that typically takes a minimum of _____ year(s)

In your business model, you should address not only your own business's or venture's value chain but also the value chain for your broader _________________ (energy, retail, manufacturing, agriculture, or travel and tourism, for example).

Suppose your venture is to develop a food distribution process for a certain region. When you work on your business model, which of these are ecosystem variables you should address?

Your ecosystem will not become vibrant and work for you unless you ______________ it, which allows it to grow so you can leverage it to support your business model.

A/an _______________ is a collection of linked industries, each of which consists of several companies and other organizations that are in the same geographic area, are linked by certain commonalities, and may complement one another in various ways.

An industry cluster can include not only companies, but also _______________________________________________________.

Industry clusters relevant to your venture are an important part of the _____________________ to be identified in your business model.

You do not need to do a full environmental analysis for your business model, but you do need to address some high-level questions related to key environment variables.

When describing environment variables in your business model, sometimes gaining an understanding of the history of a specific environment (for example, the political or cultural or social environment) can help you see potential _____________________________ that may benefit your venture.

One of the best ways to address geographic variables (international, regional, national, and local levels) is to identify connections between ____________________________________________ and your venture at different geographic levels.

Knowing the geographic location of the elements in your business model will affect ______________________________________________.

What is the purpose of the concept document for a venture?

The concept document for a venture should be ______________________ pages in length.

What does the "executive summary" summarize when you are working through early stage development activities?

The concept document is also known as a business ___________.

The concept document serves as key input to what document?

The concept document explains the logic of your business model, which is the logical basis of your ________________.

Concept documents and executive summaries are typically released publicly, with the exception that rarely you may require people to sign a/an ____________________________________________ to review the concept document if you think it may be easy to replicate.

After you produce your business model, concept document, and executive summary, you will not need to go back and make updates to them.

Which of these documents provides the least detailed view of the logic that explains how your venture will create value?

To create your concept document, you pull all the components you identified at a high level from your __________________________ and describe them in more detail.

The purpose of the _______________________ in early stage development is to show detailed effects of your venture, financially and in other ways, both for now and projected several years into the future.