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Implementing Your Business Ideas: From Risk Identification to SWOT Analysis

Coventry University via FutureLearn

Overview

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Do you want to launch a business? Have you got an idea for a new startup that you believe has huge potential? This course will help you transform it from idea to fledgling venture.

You’ll have a chance to learn how to critically analyse your potential markets – and evaluate the feasibility of your idea – by gaining insight into a number of business management tools.

Learn how to grow your business

You’ll complete the course with the knowledge of how to successfully launch your business idea, from critical implementation factors to awareness of demand and competition.

The course explores what makes a good business opportunity and considers the differences between exploring and exploiting an opportunity.

You’ll also identify the risks you might face during the implementation process, and plan how you’ll mitigate them.

Finally, you’ll consider who you’ll need in your team to take your opportunity forward.

Use the Business Model Canvas and other strategic management tools

With the Business Model Canvas (BMC), you can quickly and easily define and communicate a business idea or concept. This one-page document will give you a thorough understanding of the fundamental elements of a business or product, allowing you to structure an idea in a coherent way.

You’ll also explore other strategic management tools used by visionaries, game changers and challengers.

Create a business strategy using SWOT analysis

The course will teach you how to carry out thorough research prior to launch. You’ll see how market research, competitor analysis and a SWOT analysis (identify strengths, weaknesses, opportunities, and threats related to business competition or project planning) can be used to help you evaluate your business opportunity or provide feedback on a proposal to a peer.

This ExpertTrack is designed for anyone interested in applying entrepreneurship principles to their daily lives.

It will be of particular interest to people in business development, recruitment and business management roles looking to take their career to the next level.

Taught by

Cherisse Hoyte

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