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Assignment on Business Opportunity

   

Added on  2021-02-20

13 Pages3278 Words135 Views
EntrepreneurshipData Science and Big DataArtificial Intelligence
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Business Opportunity Project
Assignment on Business Opportunity_1

Executive SummaryBusiness Opportunity is the concept through which company easily provides differentideas to their customers so that it will help to increase their financial performance. In the sameway, report focus is to provide an opportunity for the firm so that it will attract wide range ofcustomers towards them. Report is all about innovation and introduce new concept for theMainstreet Trading company which is retail firm and situation in UK. The report uses mega trendsuch as artificial intelligence in its working place in order to introduce to robots so that it willhelp to make its efficiency level higher. Further, report will cover creative opportunities for abusiness by using models.
Assignment on Business Opportunity_2

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Concept of business opportunity.................................................................................................1Mega Trend used by Mainstreet Trading Company...................................................................2Creative as well as innovative ways for recognizing opportunities ...........................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Assignment on Business Opportunity_3

INTRODUCTIONTo stay ahead in the competitive world, it is quite necessary for every business to usemega trend in order to sustain the image in market. In the same way, the chosen small firm forthe report is Mainstreet Trading Company in UK which is small retail firm of Books, Cafe,company also focusing on quality products, customer experience and staff knowledge.he quotedfirm is situated in UK and mainly deals in retail industry. In last 10 years, the company makes itsproducts and services in such an innovative way that helps to attract wide range of customers. Itprovides cafeteria and sell books in such a leas price, further, it provides a comfortable zone toall youngsters so that they enjoy at place. Report will describe the new product i.e. Robots byanalysing the mega trend in order to improve the performance of company. Further, report willidentify the viability of an opportunity and also justify a proposal for a new trend by highlightingthe trends as well.Concept of business opportunityAs per the view of Frank, Dalenogare and Ayala, (2019) business opportunity is apackaged business investment which helps a buyer to start a business. Therefore, by introducingnew business opportunity, company will easily maintain the relationship between seller andbuyer for long time. It is also realized that by providing different business opportunities will alsohelp company to attract wide range of customers towards it. In the same way, Mainstreet TradingCompany also wants to introduce new products as per analysing the mega trend. These megatrend are mainly focus on advance technology and in thee age of digital transformation, thesetrends are playing an important role. Some mega trends are as follows:Artificial Intelligence: It is the technique of human intelligence process by a machine,the process also includes learning, intelligent and self abstraction. Therefore, through this megatrend, the company will increase its efficiency and saves time and extra expenses as well. Even itis also analysed that AI is low error rate as compared to humans only if they are coded accuratelyotherwise it will be more dangerous (New mega technology trend, 2019). As per the facts, it isrealized that most of the large scale company uses this artificial intelligence into its workingplace to make the process simpler and easy, as it saves time and money for those large firms andalso improve the performance as well as productivity too. 1
Assignment on Business Opportunity_4

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