Step 1: Identify the issue(s) that management (or the people involved in the case) must address.
-Two students must present their business idea to a panel of potential investors.
-More specifically, the students must present an innovative idea and business model, identify potential markets and explain why their product would be successful in these markets, and they must sell themselves as entrepreneurs.
Step 2: Perform the appropriate analysis and evaluation.
-To get a good mark on this assignment, Ashley and Jessica must critically evaluate secondary research. To do this they must (1) evaluate resources, (2) develop effective search strategies, and (3) identify ...view middle of the document...
Step 3: Propose an action plan or set of recommendations, and be sure to support it with reasons and evidence.
-Ashley and Jessica should proceed with their idea of the Piercer, and follow the steps I outlined in Step 2. I recommend they proceed with the Piercer because they are developing a product that caters to the changing demographics in Canada. Specifically, the Canadian population is getting older, and the Piercer is likely to be particularly attractive to older people.
-That said, I don’t think they should limit themselves to this demographic. They should also consider other markets, like people with disabilities, especially people who can’t speak. Parents might also be interested in buying it for their children.
-Their product is also relatively inexpensive. So while it is unlikely that anyone will need to use the product, a customer can still feel safe without paying a lot of money.
-Lastly, because their product is relatively simple, it won’t take much money or time to produce. This also means they can get the product out to customers quickly to match...