In this project, you will demonstrate your mastery of the following competencies:
Determine how an organization gains a competitive advantage
Determine organizational risk and growth opportunities in order to develop a strategic plan
Defend business decisions in support of an organization’s strategic plan
It’s the moment of truth: your opportunity to demonstrate why your new product or service is worth funding. You have done the research and know that the funding you seek can be a game changer for the company. Not only will it produce revenue and profitability, but more importantly, it will strategically set the company apart from its competition.
You just have to convince senior management.
In preparation, you have created a checklist for yourself to use in compiling information that includes research, feasibility of the idea via the BMC, scope of project (timeline included), project risk mitigation, DEI, CSR, and 24-month pro forma.
You know that anything can happen in a funding pitch. With this in mind, you are prepared to answer questions that encompass all aspects of the project.
Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed:
Value proposition: Describe the company’s current value proposition in the market.
Describe the selected company’s main product or service.
Discuss the company’s overall strategic plan.
Guide On Rating System
Vote
Good afternoon senior management,
Thank you for giving me the opportunity to present a pitch for funding our new product or service. I believe that this venture has the potential to not only bring in substantial revenue and profitability, but also to strategically differentiate us from our competitors in the market.
To begin, let me highlight our company's current value proposition in the market. We have established ourselves as a leader in providing innovative solutions to our customers' needs. Our commitment to quality, reliability, and customer satisfaction has earned us a strong reputation and a loyal customer base. However, in order to maintain our competitive edge and continue growing in the ever-evolving market, we need to introduce a new product or service that addresses the changing needs and preferences of our target audience.
Now, let me introduce our main product or service. After extensive research and analysis, we have identified a gap in the market that our new offering can successfully fill. The product/service is designed to cater to the growing demand for sustainability and eco-friendly solutions. It incorporates advanced technologies, materials, and processes to provide our customers with a more environmentally conscious alternative. By offering this new product/service, we can not only meet the evolving expectations of our customers but also stay ahead of our competition.
This initiative aligns with our overall strategic plan, which focuses on long-term growth and sustainability. By investing in this new product/service, we are positioning ourselves as pioneers in the industry, leading the way in environmental responsibility. This strategic move will not only attract new customers who prioritize sustainability but also enhance our reputation and credibility in the market.
Now, allow me to address any potential concerns or risks associated with this project. We have conducted a comprehensive risk assessment and developed a detailed risk mitigation plan. This includes measures to address supply chain disruptions, regulatory challenges, and potential customer adoption hurdles. Our team of experts has also taken into consideration the dynamic nature of the market and conducted a thorough feasibility analysis via the Business Model Canvas (BMC). The results indicate strong market potential and a high probability of success.
In addition to addressing market trends and profitability, we have also placed a strong emphasis on diversity, equity, and inclusion (DEI) as well as corporate social responsibility (CSR) in our strategic plan. We believe that these values are integral to our company's success and long-term sustainability. We have implemented initiatives to promote diversity within our workforce, ensuring equal opportunities for all employees. Furthermore, our CSR efforts focus on giving back to the community and minimizing our environmental footprint, both of which are aligned with the mission and values of our customers.
Lastly, I would like to present the 24-month pro forma, which outlines the projected financial performance of this new product or service. The forecast demonstrates a positive return on investment, taking into account factors such as market demand, pricing, and cost analysis.
In conclusion, I firmly believe that the introduction of this new product/service will not only drive revenue and profitability but also position our company as a leader in sustainability and innovation. By seizing this opportunity, we can gain a competitive advantage in the market and further solidify our position as the go-to provider for our customers' needs. I am confident that with your support, this venture will be a game changer for our company.
Thank you for your time and consideration. I am eager to answer any questions you may have and provide additional details to further support our pitch for funding.
Sincerely,
[Your Name]
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