BUS203: Entrepreneurship Report on Laser Keyboard Development

This report presents an analysis of the development of a laser keyboard, addressing various aspects of entrepreneurship. It begins with an introduction highlighting the product's innovative nature and the use of brainstorming in its conceptualization. The report then delves into problem and needs analysis, emphasizing the product's potential to solve existing inefficiencies and its market viability. Customer analysis is conducted to assess potential demand and address associated risks. Further, the report examines the competitive landscape and the product's life cycle stage. Internal capabilities, including the importance of technical and marketing expertise, are also discussed. The report concludes with an assessment of the product's unique selling points, scalability, and potential financial considerations, referencing relevant academic sources.

MANAGEMENT

Introduction
 The assignment focuses on the
development of a product that needs
innovation
 The focus is on the development of a
laser keyboard
 The innovative idea was developed by
using brainstorming
 The product can convert any surface into
a keyboard

Problem and needs analysis
 Problem is with the inflexibility of
continuing with urgent work
 The problem affects the business men
 The cost can be expensive but can be
mitigated by developing it as a mobile
application
 It is an emerging need in the market

Customer analysis
 Customers may want to pay a heavy
amount for purchasing the product
 The benefit is that it can be used at any
time and place
 The risk is that it can be costly and
require enough charging capacity
 The characteristic that can appeal to the
customers includes its weight and
frequency of use

Market analysis
 Challenges in the form of competitors
and brand name
 Competitors can be Apple or Samsung
 The product life cycle is at the growth
stage
 The market size is low due to the
emerging popularity
 The potential is high due to the new
concept associated with keyboard

Internal capabilities
 The internal capabilities need to the
strength possessed by the developers
 Every aspect required for the
development of the laser keyboard need
to be taken
 Technical expertise personnel can help in
the development of the product
 Marketing personnel can help in the
promotion of the product

Commercial viability
 Unique selling point is the mobility of the
product
 Flexibility need to be taken into account
 The product can be scaled based on the
responses of the product
 The maximum cash outflow can be while
developing chips for connecting with the
Bluetooth devices

Reference
 Card, D., Kluve, J. and Weber, A., 2017.
What works? A meta analysis of recent
active labor market program
evaluations. Journal of the European
Economic Association, 16(3), pp.894-
931.
 Kassem, M. and Succar, B., 2017. Macro
BIM adoption: Comparative market
analysis. Automation in Construction, 81,
pp.286-299.