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Implementing Your Business Ideas: From Risk Identification to SWOT Analysis

Do you have a new business idea or opportunity? Learn how to assess the viability of your idea to help make it a reality.

  • Duration

    2 weeks
  • Weekly study

    5 hours
  • 100% online

    How it works
  • Included in an ExpertTrack

    Course 3 of 5
  • Get full ExpertTrack access

    $39/monthFind out more

Do you want to launch a business? Have you got an idea for a new startup that you believe has huge potential? This course will help you transform it from idea to fledgling venture.

You’ll have a chance to learn how to critically analyse your potential markets – and evaluate the feasibility of your idea – by gaining insight into a number of business management tools.

Learn how to grow your business

You’ll complete the course with the knowledge of how to successfully launch your business idea, from critical implementation factors to awareness of demand and competition.

The course explores what makes a good business opportunity and considers the differences between exploring and exploiting an opportunity.

You’ll also identify the risks you might face during the implementation process, and plan how you’ll mitigate them.

Finally, you’ll consider who you’ll need in your team to take your opportunity forward.

Use the Business Model Canvas and other strategic management tools

With the Business Model Canvas (BMC), you can quickly and easily define and communicate a business idea or concept. This one-page document will give you a thorough understanding of the fundamental elements of a business or product, allowing you to structure an idea in a coherent way.

You’ll also explore other strategic management tools used by visionaries, game changers and challengers.

Create a business strategy using SWOT analysis

The course will teach you how to carry out thorough research prior to launch. You’ll see how market research, competitor analysis and a SWOT analysis (identify strengths, weaknesses, opportunities, and threats related to business competition or project planning) can be used to help you evaluate your business opportunity or provide feedback on a proposal to a peer.

What topics will you cover?

  • The characteristics of a good business opportunity
  • Overview of the factors essential for implementing a business opportunity
  • Introduction to the Business Model Canvas
  • Market research tools
  • Industry and competitor analysis models
  • Risk identification and management
  • Forming and managing teams

Prove you're job ready

Highlight the new, job-relevant skills you’ve gained and supplement existing qualifications with a hard-earned, industry-specific digital certificate – plus one for every course within your ExpertTrack.

  • Learn the latest in your chosen industry or subject.
  • Complete each course and pass assessments.
  • Receive certificates validated by the educating organisation.
  • Impress employers with learning outcomes you can add to your CV.
  • Make your career dreams a reality.

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Learning on this course

On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Identify the characteristics of a good business opportunity
  • Justify how each component of the business model canvas is related
  • Reflect on the processes involved in operationalising a business opportunity

Who is the course for?

This ExpertTrack is designed for anyone interested in applying entrepreneurship principles to their daily lives.

It will be of particular interest to people in business development, recruitment and business management roles looking to take their career to the next level.

Who developed the course?

Coventry University

Coventry secured 5 QS Stars for Teaching and Online Learning in the QS World University Ranking 2020 and has received No. 1 in the world for Massive Open Online Courses in MoocLab’s World University Ranking 2021.

  • Established

  • Location


About this ExpertTrack

Gain expert knowledge in developing and evaluating your own business opportunity in a range of entrepreneurial environments.

Start learning today - free 7-day trial

After your free trial you can:

  • Pay $39 per month to keep learning online
  • Have complete control over your subscription; you can cancel any time
  • Work at your own pace and set your own deadlines at every stage
  • Only pay while you’re learning; the subscription will cancel automatically when you finish
  • Complete online assessments to test your knowledge and prove your skills
  • Earn digital course certificates and a final award that you can share online, with potential employers, and your professional network
  • Keep access to the content of courses you complete even after your subscription ends

Learning on FutureLearn

Your learning, your rules

  • Courses are split into weeks, activities, and steps to help you keep track of your learning
  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
  • Stay motivated by using the Progress page to keep track of your step completion and assessment scores

Join a global classroom

  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
  • Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others

Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

Want to know more about learning on FutureLearn? Using FutureLearn