See instruction attached. Please advise if you understand what is being asked in your response

See instruction attached. Please advise if you understand what is being asked in your response
BUSINESS FEASIBILITY WORKSHEETS Instructions Please use the business idea from DQ1(see attached) You are therefore charged with answering the following questions and completing the tables. Point to note, not all aspects of the table may apply to your business entity, so note “N/A” if it does not apply. STEP 1: INDUSTRY CONSIDERATIONS Describe product/service: Description of product/service (what it is, where it will be sold) Description of how product/service will be produced Identify licenses, permits, certifications, bonding or other requirements to operate Description of suppliers Cost to produce product/service Price of product/service Industry standards for COGS, fixed expenses, break-even point, and net profit PBO’s projected COGS, fixed expenses, break-even point and net profit Describe customer: What customer need is product/service meeting How any potential customers in service area? Same or different people than those going to competitor Who are they (describe on next page) Market Positioning Worksheet Customer demographics or identifiers Primary customer Secondary customer(s) Location of the customers (e.g., city, county, particular part of town, cyberspace) Age range Male or female? Income level (e.g., low, middle, high) Educational level Career type (“white collar,” “blue collar” Marital status Has children? Pet owner? Hobbies/interests Religious/political traits Market Positioning Worksheet Customer demographics or identifiers Primary customer Secondary customer(s) Do potential customers know that they have a need for this product/service Do potential customers need your product/service but not know it? Marketing for Business to Business (B2B) Companies Type of business to supply Specific businesses to supply Size of business revenue Number of employees Location(s) Other descriptors 3. Describe competition: How many competitors are there? What are their strengths? What are their weaknesses? How is PBO’s product/service different from competition? How much of the target market is served by competitor? What portion of market remains open? Describe financial considerations: Sales projections Critical factors to reach sale projections Potential financial resources for supporting business start-up STEP 2: PROSPECTIVE BUSINESS OWNER CONSIDERATIONS (PBO) Does this business idea match dreams/goals of PBO? Is PBO really interested in owning this business? How much time can PBO invest in operating the business? What tasks are necessary to produce product/service? Does PBO have, or can they acquire, skills to perform the production and management parts of the business they wish to perform? Do PBO have, or can they afford, the necessary business and personal supports? How much money can PBO access/invest? How will this business affect the PBO’s family? Please see the rubric that will be used to grade the above assignment. 3
See instruction attached. Please advise if you understand what is being asked in your response
QUESTION D.Q. #1 Let us start thinking like Entrepreneurs. The landscape of Jamaica is changing because of greater emphasis being placed on the establishment of local businesses. As such, the government has created different funding opportunities to stimulate the growth of small and medium-size businesses. The aim of this is to stimulate economic growth and job creation. As an aspiring entrepreneur, investigate the current business landscape in Jamaica and identify one need that is either not being fulfilled or is partially being fulfilled and explain how you would create a business entity to satisfy this. In your response, clearly develop the following: 1.      The need that you have identified. 2.      The type of business and industry that this entity would fall into. 3.      How will this business satisfy such a need? 4.      What are the impacts (gains) that this firm will have on the identified need? RESPONSE D.Q. #1: Agriculture is one of the business ideas that will help the economy to grow in Jamaica. The significant problem that Jamaica has been going through as a country is the stock exchange. This will allow the nation to satisfy itself internally and export some of the excess food to other countries on the continent, making its economy expand quickly (Campbell, 2021). I want to start as an entrepreneur by farming coffee and tea and selling them across the country. Coffee and tea are something that is mainly imported in Jamaica. I can use this chance to capture a lot of customers countrywide and enlargen my supply. This type of business and entity would fall into the agriculture sector. Agriculture is one of the significant sources of revenue for the country (Campbell, 2021). This is after tourism. Farming is not something that Jamaican citizens mainly practice. Identifying this gap and taking full advantage of this type of idea may expand the business and make it an international company. This business will satisfy such a need by making it possible for the residents to buy locally manufactured tea and coffee since research shows that most people living in Jamaica love drinking coffee. This company’s gains are that most people will promote the locally sold tea and coffee since I will be selling the at a much lower price than those imported from different places in the world (Campbell, 2021). The products will also be readily available, and the company will make sure that the product is always in good circulation and the supply chain will always be balanced. The products will never run out of supply, so that people will always count it as a reliable product. Reference. Campbell, D. (2021). Environmental change and the livelihood resilience of coffee farmers in Jamaica: A case study of the Cedar Valley farming region. Journal of Rural Studies, 81, 220-234.