Gap Analysis for Evaluation of Entrepreneurial Idea - Desklib

This presentation covers Gap Analysis, Comparative Analysis, Questionnaire, SWOT Framework, Porter's Five Force Model for evaluating an entrepreneurial idea. It provides insights on Strengths, Weaknesses, Opportunities, and Threats. It also covers the Threat of New Entrants, Bargaining Power of Buyers, Threat of Substitutes, and Rivalry Among Existing Competitors. The presentation includes primary and secondary data, and references to relevant research.

Gap analysis for the
evaluation of a
entrepreneurial idea

TABLE OF CONTENT
• Gap analysis
• Comparative analysis
• Questionnaire
• SWOT framework
• Porter's five force model
• References

GAP ANALYSIS
This is the procedure this is used to perceive the customer's wishes and locate the manner
to enhance the procedure in commercial enterprise organization. This is the technique of
defining the variations in overall performance among a commercial enterprise statistics
structures or software program software that decide whether or not commercial enterprise
necessities are being met and if not, then what step ought to be taken so as to met
successfully

PRIMARY DATA
The number one information manner information that's amassed
from first time via way of means of gaining knowledge of the
marketplace. This is amassed via way of means of the
researcher via way of means of doing studies in marketplace.

SECONDARY DATA
This approach a records that is amassed from current sources inside business enterprise.
There isn't always want to do any studies and spent greater time and money.
Organization can manufacture the product with the aid of using following the person. It is
used to examine with different business enterprise that is defined as:

COMPARATIVE ANALYSIS
Basis Taste and Try Holy carrot
Size of
organisation
The management of company wants to
established private owned company
which provides number of vegan dishes
to their customers.
It delivers mixture of vegan food that
attract the customers.
Price The management of company adopt
market penetration pricing to target the
larger number of customers.
It reflects competitive pricing policy
because of targeting the customers in
effective manner
Location London, UK Reached at global level
Focuses It will focus on customer taste as light
sugar, weight and no meat.
It focuses on number of customers by
manufacturing vegan dishes.

Questionnaire
Name:
Age:
Email Id:
Q1. Do you like vegetables? Frequency
a. Yes 14
b. No 6
Q2. What type of vegan food do you prefer? Frequency
a Fully vegetables 3
b. Semi vegan along with other grains 5
c. Milk Based 5
d. Innovative 7
QUESTIONNAIRE

QUESTIONNAIRE
Q3. Have you heard about Taste and try?
Frequency
a. Yes
14
b. No
16
Q4. How regularly you spend on chocolates?
Frequency
a. Everyday
3
b. Occasionally
5
c. Once in a week
5

QUESTIONNAIRE
Q5. Do you think that Taste and try will attain success at Wembley?
Frequency
a. Yes
12
b. No
8

Interpretation: it is analysed from the above analyses
that 14 out of 20 respondents like vegan and 6 of them
are saying that they do not like vegan food. Mean, mode
and median for their responds are 10, 2, 10 respectively.
Q1. Do you like vegetables?
Frequency
a. Yes
14
b. No
6
Mean
10
Mode
2
Median
1014
6
a. Yes
b. No
14
6
a. Yes
b. No

Interpretation: from the above chart it has been observed that 6 respondents spends on vegan
food everyday, 6 spends on weekly, 3 spends in a month and another 5 respondents spends
occasionally.
Q4. How regularly you spend on chocolates?
Frequency
a. Everyday
6
b. Occasionally
5
c. Once in a week
6
d. Once in a month
3
Mean
5
Mode
0
Median
6
5
6
3
a. Everyday
b. Occasionally
c. Once in a week
d. Once in a month
6
5
6
3
a. Everyday
b. Occasionally
c. Once in a week
d. Once in a month

SWOT Framework
SWOT analysis is a technique which is used to analyse the
objectives, progress and problems of and organization. SWOT
is basically the abbreviation for Strength, Weakness,
Opportunity and Threat . Organizations use this tool for a
better understanding of internal and external factors that may
affect the organization's objectives and goals.

STRENGTHS
• Such venture is providing utmost healthy and nutritional products to its customers.
Organization has a huge demand of product and large follower base on social media.
• Taste and try is following all the health care laws and adapting new technologies. Its
products does not contain any chemicals or pesticides or harmful preservatives

WEAKNESSES
• Prices of the products are not high so that the margins of the products are not as
much effective.
• Taste an try has to pay a huge transportation cost in order to make a strong customer
base. oorganization hasn't global appearance.
• It is being operated locally. Organization has to go through a complex and costly
process of organic certification.

OPPORTUNITIES
• Taste and try business idea is a new fully innovated and have high growth potential.
• Organization can increase the demand and create new buyer by adapting marketing and
advertisement strategies. It can improve its market by affiliating relations with suppliers.
• Taste and try have an opportunity to expend the business globally with the help og digital
marketing.

THREATS
• Changing in regulation or governance can affect the business. Many other small
competitors are providing the same products to the customers.
• Demand of the vegan food will not increase because only high potential customers prefer
and afford the Taste and try due to high cost.
• The company has lack of funds and expert employees.

PORTER'S FIVE FORCE MODEL
Porter's 5 pressure version is principle for analyzing an agency
aggressive surroundings and decide the enterprise power with
its profitability. Five pressure version of a begin up enterprise
assist to enterprise contention with inside the aggressive
technology of marketplace. This version changed into created
with the aid of using M porter to recognize the aggressive
surroundings forces that have an effect on to an agency. The
thing of porter 5 pressure version is hazard of entry, hazard of
substitute, bargaining energy of dealer and bargaining energy of
substitute.

THREAT OF NEW ENTRANTS:
This pressure determines that It is simple to go into in much less competitive generation of
marketplace as there are few marketplace contenders in industry. When greater groups
compete for the equal marketplace share, income begin to slip. Taste and try enter in
marketplace with excessive opposition with inside the marketplace So Taste and try
requires: High capital to introduce in marketplace, Quality of the product, exceptional
versions of item, specific taste, Pure and hygiene, low MRP of the product.

BARGAINING POWER OF BUYERS:
Buyer expectation is constantly better shape product that they buy it from market. Buyers
have the strength to pay decrease rate or demand better product first-class from enterprise
producers. If Taste and try begins off evolved sells with sturdy rate coverage or non-
bargaining coverage or restoration rate of the product then it threatened to competitor.

THREAT OF THE SUBSTITUTES:
This pressure is threatening whilst consumers can without difficulty locate replacement
merchandise with higher nice then customer movements to different product or offerings
that have low MRP. For Taste and try business, there are loads of substitutes to be had in
marketplace which negatively influences the business.

RIVALRY AMONG EXISTING COMPETITORS:
This pressure is the foremost determinant factor . In aggressive industry, each corporation
should compete aggressively for seize marketplace share, which direct impact to its emblem
reputation a number of the customer. Rivalry amongst competition is excessive when: There
are numerous competitors;
• Exit barriers are high;
• Industry growth is slow
• Products are easily substituted
• Low customer loyalty.

REFERENCES
• Biloslavo, R., Bagnoli, C. and Edgar, D., 2018. An eco-critical perspective on business models:
The value triangle as an approach to closing the sustainability gap. Journal of Cleaner
Production, 174, pp.746-762.
• Maroufkhani, P., Wagner, R. and Ismail, W.K.W., 2018. Entrepreneurial ecosystems: A
systematic review. Journal of Enterprising Communities: People and Places in the Global
Economy.
• Hsieh, Y.J. and Wu, Y.J., 2019. Entrepreneurship through the platform strategy in the digital era:
Insights and research opportunities. Computers in Human Behavior, 95, pp.315-323.
• Steininger, D.M., 2019. Linking information systems and entrepreneurship: A review and
agenda for IT‐associated and digital entrepreneurship research. Information Systems
Journal, 29(2), pp.363-407.