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Identifying Entrepreneurial Opportunities

   

Added on  2020-10-04

16 Pages3972 Words241 Views
Identifying EntrepreneurialOpportunities

Table of ContentsINTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................4Background information about those sources that inspired your idea and what motivated youpersonally in wishing to set up your own business.....................................................................4An introduction to your business idea and what it is, and who and where your potentialcustomers.....................................................................................................................................6A competitor analysis that looks at the competitive marketplace...............................................7Gap analysis, current and future situations and objects of business ideas..................................8Market research to support viability for your business idea.......................................................9Why your business idea is viable, what are the strengths and weaknesses.................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONEntrepreneurship is an chain of activities by designing, launching and running a newbusiness which is initially a new business. People who build or create these business known asentrepreneurs. It relate with transforming world by solving by gigantic issues or problems. Itshould be possible by social change, by building new products in an innovative way for lifechanging solution. This report is based on developing a new idea or concept by formalised newentrepreneurial opportunities in UK market that is start a new venture which bring a new conceptin coffee which is coffee with brown sugar to enchant attention of consumers in positive way.That new concept is for people who are want new concept and it also relate with start a newventure coffee with fusion to grab large market share. This report based on gap analysis of anentrepreneurial idea by find out SWOT framework to identify viability of a project.MAIN BODYBackground information about those sources that inspired your idea and what motivated youpersonally in wishing to set up your own business.Entrepreneurial ideas and innovation are very much important for an organisation toreach at desirable goals and objectives in proper way (Anderson and et.al ., 2015). For anorganisation to select right kind of ideal or concept in market that helps in growth and success ofventure. To lead in market organisation planned to develop a new concept that is coffee withbrown sugar that are preferable for health conscious consumers. By using Peter Drucker's modelwhich helps in find out viability of a business that are as follows:The unexpected:in a business circumstance or situations are uncertain in nature that pace towards failureof an business idea or concept. In that organisation they bring new idea or concept that giveinspiration to their managers to bring coffee with organic brown sugar to give new concept toreap benefits in business.Incongruity:In that phrase of developing innovation consist of collection of proper knowledge andinformation according to the taste and preferences of their target consumers so that organisationcan get success (.Cruz, Hamilton and Jack, 2012. ). Coffee delight by using surveys and

feedback from their consumers that they prefer to take new coffee with organic sugar for healthconscious consumers.Process needs:In that phrase organisation before identify new idea or concept, find out potentialweaknesses in their project that helps to entrepreneur to reach at desirable goals and objectives.This idea or concept is an great source of business idea that assist in developing a new venture.Industry and market structure change:Due to the fierce competition in marketplace organisation use advance tools andtechniques to bring innovation in their products and services in positive way (Gilbert, 2012..). Incase of coffee delight they evaluate needs of their consumers and aimed to launch a new productthat is coffee with organic brown sugar.Demographics:Demographic is an important source while start a new idea or concept, in demographicmany important components consist that are age, gender and qualification of their potentialconsumers. Dynamic in that factors affect the whole idea or concept, to keep pace that changescoffee delight aimed to apply a new concept that is coffee with organic brown sugar to capturehealth conscious consumers.Change in perception:Perception is an important factor of both consumers which vary frequently becauseintense competition in market and technological advancement. To lead in market and givedelighted experience to consumers for that organisation bring new concept.New knowledge:Knowledge and information are very much important for an organisation beforelaunching a new product into marketplace that is taste and preferences of consumers, majorcompetitors and their plans with policies ( Guerrero, Urbano and Fayolle, 2016.).From the above sources it has been summarised that new ideas and concepts are very muchimportant for Coffee delight to build sustainability in marketplace.An introduction to your business idea and what it is, and who and where your potentialcustomers.For an organisation entrepreneurial idea or concept helps in gain growth and developmentby provides products and services in an innovative way (s and Hultman, 2013.). In an

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