Determine how an organization gains a competitive advantage
Determine organizational risk and growth opportunities in order to develop a strategic plan
Defend business decisions in support of an organization’s strategic plan
Scenario
It’s the moment of truth: your opportunity to demonstrate why your new product or service is worth funding. You have done the research and know that the funding you seek can be a game changer for the company. Not only will it produce revenue and profitability, but more importantly, it will strategically set the company apart from its competition.
In preparation, you have created a checklist for yourself to use in compiling information that includes research, feasibility of the idea via the BMC, scope of project (timeline included), project risk mitigation, DEI, CSR, and 24-month pro forma.
You know that anything can happen in a funding pitch. With this in mind, you are prepared to answer questions that encompass all aspects of the project.
Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed:
Value proposition: Describe the company’s current value proposition in the market.
Describe the selected company’s main product or service.
Discuss the company’s overall strategic plan.
Competitive advantage: Describe the competitive advantage the company will gain by funding the project.
Describe how you discovered an opportunity to do something better than your competitors.
Determine how the new product or service shifts the value proposition of the company.
Risks and opportunities: Establish the risks and growth opportunities of the company.
Determine if the new product or service could disrupt the current industry.
Identify the risks associated with the development of this new product or service.
Growth opportunities: Describe the areas of potential growth for the company.
Identify the growth opportunities within the company.
Explain how the competitive advantage allows for growth.
Distinguish as a new product or innovation: Distinguish the new product/service as an innovation or improvement on an existing product/service.
