Hands On Assignment # 1
Develop a new business idea that your group would like to pursue during this quarter. Keep your idea simple and elegant that certainly has an element of data collection to create value for the organization. Provide the following information in the form of a report after a through brainstorming and research.
(1) Assuming you have enough capital to run the business, provide a brief overview of the business idea, your approach to use technology for the successful operations of the business, identifying required resources and customer base for your product or service. Briefly discuss how you will create value (make money)? [10 points]
(2) Poter’s five force model of competition: Summarize (using a table demonstrating the ranks of the forces such as “low”, “medium” or “high” and the reasons behind your conclusion) the competitiveness and profitability of the business model you have developed. What would be your strategy to make for business profitable?
[8 points]
(3) Analyze the business process of a transaction for your business and identify the processes that require implementation of Information Systems. Use swim-lane business process diagram to explain the flow of information in the process. [10 points]
Prepare a word file with the name as: Group_XX_HOA1.docx. Your report should not be more than 5 pages (excluding the cover page) [double space with 11-point font]
NOTE: This is a group assignment. You need to submit one report per group.
First page: You should include your group name and the members of your group. Make up a creative name for your company to demonstrate your creativity. [2 points]
