Thrive 1.0 - Interview
Project Title: "Business Expansion Strategy"
“Business Expansion Strategy” is a comprehensive business development project designed to evaluate your skills in identifying growth opportunities and formulating strategies for business expansion. In this project, you will have 10 hours to analyze a business scenario, develop a strategic plan, and present recommendations for expanding the business. This project serves as a practical demonstration of your business development expertise, making it a valuable addition to your portfolio.
You will be tasked with formulating a business expansion strategy for a hypothetical or real business. The project should include the following key elements:
Business Analysis: Conduct a thorough analysis of the current business situation, including market conditions, competition, strengths, weaknesses, opportunities, and threats (SWOT analysis).
Market Research: Research potential markets or customer segments for business expansion. Identify target demographics, preferences, and needs.
Strategic Planning: Develop a comprehensive business expansion plan that outlines goals, objectives, strategies, and tactics for growth.
Financial Projections: Create financial projections, including revenue forecasts, budgeting, and ROI analysis for the proposed expansion.
Risk Assessment: Identify potential risks and challenges associated with the expansion plan and develop risk mitigation strategies.
Implementation Plan: Outline a step-by-step implementation plan, including timelines, responsibilities, and key performance indicators (KPIs).
Presentation: Prepare a compelling presentation that highlights the expansion strategy, benefits, and potential outcomes.
Utilize business analysis tools and methodologies relevant to the task.
Compile all project files, including the business expansion plan, financial projections, and presentation materials.
Your project will be evaluated based on the following criteria:
Market Analysis: The depth and accuracy of your market analysis, including growth opportunities and market trends.
Strategic Planning: The clarity and feasibility of your strategic plan, including initiatives, goals, and timelines.
Financial Projections: The accuracy and relevance of your financial projections in assessing the impact of the expansion.
Risk Assessment: The identification of potential risks and the effectiveness of proposed mitigation strategies.
Presentation: The quality of your presentation in effectively communicating the strategic growth blueprint to stakeholders.
Compile all project files into a single ZIP file, including links to any online tools or resources you may use. Then, upload the ZIP file through the submission form provided on the internship page. Ensure that your business expansion strategy is well-documented and reflects your expertise in business development.
This “Business Expansion Strategy” project allows you to showcase your ability to identify growth opportunities, develop strategic plans, and present recommendations for business expansion. Enjoy the experience of formulating a comprehensive business development plan for your portfolio.