Identify a business in which you are interested in creating and write a brief business
concept proposal. In any business arena, it is important that you can communicate your ideas
effectively and provide sources to add to your credibility. This proposal will serve as a guide or
blueprint for managing the entire business. Additionally, a business concept proposal is
important for seeking financing opportunities as it allows banks and other potential
lenders/investors to assess and determine the operational capability of a business operation. A
well-crafted and researched business concept proposal is expected to provide detailed
information about the business as well as its projections for achieving and sustaining
competitiveness (competitive advantage in a local or global marketplace). In writing a business
concept proposal, you are expected to demonstrate originality, creativity, and knowledge of
related literature on your selected business. Finally, a good business concept proposal helps to
evaluate or assess the feasibility of a business idea in an objective and strategic manner.