Exam (elaborations) Information Technology (BBENA1A)
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Course
Information Technology (BBENA1A)
Institution
Vaal University Of Technology (VUT)
An entrepreneurship memo is a document that summarizes the main aspects of a business plan, such as the product or service, the target market, the competitive advantage, and the financial projections. It is usually written for potential investors, partners, or customers who want to get a quick over...
DATE : 19/08/2023
DURATION : 2 hours
EXAMINERS : DR. S GOVUZELA, DR. F VENTER, OT MATSHEKE, E
NKAMBULE, M MASHITJA, K MONAIS-MAGAKGALA
INTERNAL : DR. GM TLALE
MODERATOR
INSTRUCTIONS
ANSWER ALL QUESTIONS.
1
, Question 1
1.1 With the current situation that Luvuyo Rani and Silulo Ulutho Technologies are
confronted with, Identify, and apply the steps needed as far as the understanding of the
entrepreneurial process is concerned. (10)
Note to marker: As this is a discussion question any of the below points can be regarded as
sufficient as long as it is applicable towards the case study in question. Award 1 mark per
fact/argument up to a maximum of 10 marks.
Step 1: Idea generation (1)
In the above case the idea generation was not successful due to a lack of understanding who their
real customer market was as well as that the idea or concept for their product or service was not
even available or even existed in a particular market niche (1).
It may have been a brand-new concept meaning it should have been an opportunity within a
market that is willing to pay for that product or service so that it can form the basis of a
profitable and sustainable business to be able to grow. However, in the case of Luvuyo Rani and
Silulo Ulutho Technologies it was just the opposite. (1)
The idea or concept should have been conducted with the input from their respective customers,
technical people, and respective business associates first and should have been carefully screened
and evaluated before implemented. (1)
Step 2: Opportunity evaluation (1)
In the case of Luvuyo Rani and Silulo Ulutho Technologies the opportunity should have been
first scrutinized by the following questions to assess its sustainability for potential growth:
Is there a sufficient attractive market opportunity? (1)
Is the opportunity feasible from both a market perspective and technology perspective?
(1)
Is there sustainable completive advantage? (1)
Can the business owners/staff effectively capitalize on its opportunity? (1)
What is the risk/reward profile of this opportunity? (1)
2
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