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THE ONTARIO CURRICULUM, GRADES 11 AND 12: BUSINESS STUDIES
Evaluating an Idea or Opportunity
for a Venture
By the end of this course, students will:
– use methods of marketing research (e.g., primary and secondary) to determine whether demand exists for their proposed good or service (e.g., conduct a survey, record personal observation);
– use appropriate sources (e.g., local school board, local chamber of commerce, Statis- tics Canada, city hall) to identify the cha- racteristics (e.g., demographic, geographic, socio-economic) of potential target mar- kets for their proposed good or service;
– identify and assess the potential competi- tion for their proposed good or service (e.g., use SWOT analysis, PEST analysis, Porter’s five forces model);
– identify the services required for the pro- posed venture (e.g., accounting, legal, con- sulting) and assess their potential impact on the venture;
– evaluate the opportunity or idea for their proposed venture to determine its viability (e.g., availability of start-up capital, size of target market, technological feasibility, suitability for their personal skills and interests).
