Entrepreneurial Opportunity Recognition

This assignment delves into the concept of entrepreneurial opportunity recognition. It examines various frameworks and theories used to understand how entrepreneurs identify and evaluate potential opportunities. The analysis covers key themes such as market knowledge, technological awareness, and the constructivist view of opportunity. Additionally, it discusses the research agenda surrounding this topic and its implications for future studies.

Entrepreneurial opportunities

Table of Contents
INTRODUCTION ..........................................................................................................................1
Task1 Introduction of the entrepreneurial opportunities/ idea and its value preposition.......1
Entrepreneurial opportunities and ideas.................................................................................2
2. Critical explanation about the entrepreneurial themes.......................................................4
3. Development plan based on the chosen development theories..........................................6
Development plan...................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurial opportunities is concept that provides an understanding about the theories
of entrepreneurship. Entrepreneurs are considered as those individuals who pursue the
opportunities of establishment of new and innovative business ideas with an aim to get
recognition and profits (Garud and Giuliani, 2013). Without entrepreneurial opportunities there
will be no entrepreneurship conceptually speaking. One of the major source of this opportunity is
considered as important issue towards understanding how an organisation perform their
functions and came in to existence. Present reports is based on development of new business idea
and determination of the uniqueness in the business idea. Further, the two different
entrepreneurial themes are also discussed along with the entrepreneurial concepts adopted by the
ATOS Consulting. Company helps its customers to deliver innovation to their customers, reduce
costs, improve the effectiveness by leveraging the business technologies. At last, report will
provide understand in respect to the diverse entrepreneurial opportunities. Also, promotes the
opportunities in order to influence more and more clients by delegating high quality products and
services.
Task1 Introduction of the entrepreneurial opportunities/ idea and its value preposition.
Entrepreneurship is the capabilities and desire to create, organize and control a business
idea or venture together with any type of risk in orders maximizing profitability. The most
common example of entrepreneurship is establishment of new business. It totally differs from the
innovation as the innovation refers to the concept of desirable changes as well as modification in
the business operations, functions, systems and products of organization. As compared to
innovation, Entrepreneurial opportunities is considered as aims to establish the business
operations. In present context, a new business ideas have been developed for the ATOS
Consulting new and unique Cyber security software for the telecommunication sector, which
help them to secure their data and confidential information (Siegel and Renko, 2012).
Uniqueness in these ideas of development Cyber security software is that it will also secure the
information about customers and data in personal electronics devices of employees
telecommunication organization. With continuous rise in data hacking problems, demand of
strong Cyber security software have been increased in market. Therefore, entrepreneur of
enterprises have great opportunities to establish this new software business for
telecommunication sector.
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Entrepreneurial opportunities and ideas
Quality products: Entrepreneurs will achieve a great opportunity of growth in the market when
they will deliver the high and unique quality products in the market. They usually aim to start
the business after making a complete market research and analyzing the demand for the products
and service in the market (Amorós, Felzensztein and Gimmon, 2013). Atos consulting will get a
great opportunity to influence more and more telecommunication companies in UK, if their new
Cyber security software will satisfy the requirements of clients. Customers of
telecommunication will also get benefited through this software as there confidential data will
get secured. This may help them to raise their sales and revenue. Profits earned by the
organization through this new business will further use in making changes in the software and
promotion of business.
Innovation: The new business ideas of ATOS consulting is based on the innovation.
Entrepreneur within enterprise can generate new ideas to develop innovative services for the
clients so that they can provide effective services to their customers (Suddaby, Bruton and Si,
2015). Innovation will help the ATOS consulting to sustain their market performance and
increase the business growth and development because demands for its new product will increase
among its target market. In this company has targeted all the international telecommunication
companies who provide web services to their corporate customers. Implementation of
innovation in business practice will tend develop a competitive advantage of organization within
market. Revenue which have been earned from the sale of software will be invested by
entrepreneur towards future innovation and development.
Diversification: Product diversification in marketing strategy which have been used new
consultancy firm implies to development of new and innovative products as compared to other
competitors like IBM, Wipro, Euro digital etc. Company will diversify their products on the
basis of costs and innovation in products (Ramoglou and Zyglidopoulos,2015). Diversification
have been completely done by entrepreneurs by proper research and about the requirements of
telecommunication companies and their corporate clients. This product diversification will help
in attracting new clients and increases the market share of the enterprise as of the providing the
range of service along with the products.
Value Proposition: It refers to the business or the marketing statements that an organisation uses
in order to summarize why the consumers will buy a product or service. Value proposition of
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ATOS digital is that We are leaders in the digital services with the pro forma annual revenue of
the circa 13 billion and 100000 employees in the 73 countries. Company believes that bringing
together people, business and technology is the way forward (Renko, Shrader and Simon, 2012).
AT Atos “ We embrace this journey, striving to trusted partner that deliver digital empowerment
to our clients”.
Different markets: Entrepreneur firm will have opportunities to lead within the other global
market by making use of innovative and creative ideas. As per review of (Tang, Kacmar and
Busenitz, (2012), Tapping in to different markets will the market share of enterprise as compared
to their rivals like IBM, WIPRO etc. this will also influence the new customers towards them.
Entrepreneurial opportunities will raise competition in this sector which helps in increasing the
demands of customers.
Promotional practices: In order to reach to the customers, company needs to apply an effective
advertisement and promotional strategies or practices. Entrepreneurs can use the communication
channels like Digital advertisement, E commerce, Campaigns, Workshops and Web
communication etc. to promote its new software among the clients the telecommunication
companies and corporate clients.
Skilled employees: For continuous innovation and generation of new business ideas, company
needs to hire qualified employees which provide them support in improving the market
performance (Wright and Marlow, 2012). Through application of new business ideas, employee
will obtain new opportunities for company to excel in digital market. They will also help in
getting analysis of customers requirements because they directly interact with them.
Investments: ATOS Consulting can effectively invest in difference business effectively within a
same sector with the support of effective management. Entrepreneur in the organization have
adequate skills, abilities and knowledge to manage the overall business functions with the
support of skilled workers. Other than this, company will generate its investments from the
various sources like shareholders, investors, financial institution etc. to establish its new business
idea.
Further, these entrepreneurial opportunities or idea should be applied on the Consultancy
business which deal in development and managing cyber security software for various industries
like hospitality, Retail, defense, retail etc. Firm will provide quality of cyber security software
for clients will reduce the problems of companies related to data hacking and confidentiality
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(Covin and Miller, 2014). These important business practices will tend to raise the brand image
of enterprise among the clients. Achievement of competitive advantage is important and will be
obtained through the entrepreneurial opportunities as well as ideas.
2. Critical explanation about the entrepreneurial themes.
From the analysis, there are some important entrepreneurial themes have been analyzed
that drive entrepreneurial success. These important themes are required to be adopted by the
ATOS consulting for making improvement in performance and generating revenues along with
market share within the industry. According to Liñán and Fayolle, (2015), “ We have also
learned that it takes more efforts to create the successful organization, motivate employees and
lead a company forward”. These symbolic themes will be important for the functioning and
successful of the enterprise.
Below given are some important entrepreneurial themes such as:
 Being an initiator
 Considering the betterment of employees.
 Thinking out of the box.
 Do not consider any negative response.
 Think globally.
 Strategy
 Success redefined
 Bold execution
 Collective energy and share vision
 Setting new objectives
 Maintaining health relationship (Donnellon, Ollila and Middleton, 2014).
 Continuous innovation.
 Market analysis
Various entrepreneurship themes are available which are considered as significant for the
organization to gain its business requirement and establishment of operations. Introduction of
new business ideas or firm will have major requirement of using these important themes in order
to achieve high position and maintaining stability within market. Further, two important themes
have been discussed above:
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Do not fear from doing mistakes: Every entrepreneur or business enterprise have lead to some
mistakes during the startups or implementation of new business ideas (Schumann, 2017).
However, entrepreneurial theme states that the individuals must be not be afraid from taking and
doing mistakes (Wright and Marlow, 2012). At the initial stages, every new business idea and
concept will be not be perfect because its set up and execution of plan is complicated and
required a lot of knowledge and skills. ATOS consulting business establishment and execution
have many risks which are needed to be considered. For the establishment of new business
company and its entrepreneur needs to take risk that needs to be considered. These efforts and
mistakes have will enable the entrepreneur to learn about the things that needs to be considered
as for achievement of successful (Pittaway and Thorpe, 2012). They have to face and accept
these mistakes with confidential and identify the improvement that needs to be made in the
process of development of cyber security software. Further, Atos will also get better support of
its employees in avoiding mistakes in the future. Entrepreneurs always know the issues of the
mistakes which they have made earlier. Making various mistakes will tend to raise the
management learn something new and important. A collective effort of entrepreneur and
employee will together will tend to yield far better outcomes than anything an individual can do
alone. High performance decision making will also happen at all levels if the mission and goals
have been articulated. Tukker and Tischner, (2017) have stated that dynamics of the external
environment always changes, entrepreneurs or companies are to assess rapidly reevaluate the
change in the external environment.
Thus, “Do not fear from mistakes” entrepreneurial themes have stated that the
entrepreneur of enterprise always needs to take risk and start an enterprise without any relevant
threat of doing mistakes and furthermore (Hopkins, 2012). The entrepreneur needs to take risks
in order to get the opportunities of success and growth in implementation of new business and
innovation. These mistake will help the organization to make effectiveness in their business
practices and ensure to take corrective actions to avoid those issues and mistakes.
Snatching the opportunities: In international market, the companies will get various chances to
expand their business by providing new and unique products and services in market to expand
the business operations. For example: Steve jobs have snatched an opportunity of launching new
I pad electronic market in comparison with other opportunities. Every business enterprise have
many rivals in the market which provide influence on their business operations (Glover and
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Kusterer, 2012). In order to be aware and attainment of successful the entrepreneur needs to be
aware that organization must snatch all the opportunities in the market before the competitors
will garb it. This theme is mainly followed by the manager in which they have to analyze the
requirement of their target customers like corporate clients and telecommunication sector. These
themes will tend to raise the effectiveness of entrepreneur in the market. These opportunities are
considered as very important for enterprise to gain those business ventures and achievement of
market opportunities that lead to successful and growth. Moreover, these important themes will
enable the enterprise to gain growth and development in establishment of new business concepts.
Growing the business by effectively using the opportunities in the best and effective before the
competitors will take the first step towards those opportunities.
3. Development plan based on the chosen development theories.
Operation plan is considered as detailed plan that will used to provide a clear analysis
that how a team, section and department will provide their contribution towards the achievement
of the companies strategies objectives. These important strategic plans will align the overall
objectives of the organization as detailed in the strategic plan (Wirtz and et.al.,, 2016). Moreover,
these alignments will be achieved by ensuring the about the purpose of team, section and
department which align with the objectives of strategic plans. In turn, the operational plan have
used to identify the goals of team, unit and department and analyzing the ways though which the
goals will be accomplished along with identification of resources required to achieve those
objectives. Further, entrepreneur needs to follow some processes and procedures in order to
ensure that business is developed properly. In present context, ATOS consulting needs to follow
the six important steps for development of plan such as creation, assessment, planning,
development, testing and launch.
Development plan
Study of literature have stated that, development plan of companies involves particular
and important targets required ti gain effectively and ensure the further development and
successful towards the enterprise. Various targets and goal for development of business plans
are as follows:
Expansion: Entrepreneur in countries always needs to focus on the expansion of business in new
market (Trimi and Berbegal-Mirabent, 2012). In this, ATOS consulting the to raise the market
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share along with the development of high brand image in market and recognition among the
telecommunication industries for development new cyber security software.
Innovation: major element of business plan that which states that entrepreneur will make a
development plan for enterprise by learning from the mistakes and snatch the opportunities in the
market (Tukker and Tischner, 2017). Introduction of innovation is also helps in development of
new business idea. For example: Introduction of new Apple I pod was considered as innovation
which increased the opportunities for enterprise to raise its business operations.
Range of products: Providing a high product range is also latent part of business that leads to
growth and influencing more and more customers. By development wide range of service,
entrepreneur will be able to get recruitment and major support of enterprise.
Entrepreneur can further develop strategies to attain the business objectives such as:
 Hiring of qualified employees: Entrepreneur of Atos will hire qualified and skilled staff
in their enterprise so that they will be able to develop this software effectively. Further,
skilled employee will help the enterprise to attain its objectives and be responsible for the
proper functioning of business operations (Tang, Kacmar and Busenitz, 2012).
 Training: Training sessions are required to be undertaken by qualified personnel for staff
so that they understand the process of product development and enable them to resolve
the problems. It assists the employees to support new plans and techniques that needs to
achieve the goals as well as objectives through improvement of their own performance.
 Employee relations: In order to establish and execute the business development plan in
Atos Consultancy, Entrepreneur needs to develop and sustain healthy relationship with
the business competitors like IBM and Wipro etc.
ATOS company have established new business goals and various service which are important
that needs to be considered as these factors towards achievement of organization objectives by
meeting the clients expectations (Liñán and Fayolle, 2015). By the year 2019, the organization is
required to achieve the desired targets like increasing its revenues, growth, improvement in
operations and maximizing profitability. For the achievement of these objectives company has
developed various business strategies like:
 Compensating the service leading locations and leveraging the leadership. Develop and
maintain effective human resources (Renko, Shrader and Simon, 2012).
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 Optimum utilization of available resources and continuous participation within IT
integration to increase the customer's loyalty and improvement of technological abilities.
 Utilization of European solutions in the cyber security as well as big data in order to
uphold the great digital growth as well as development.
CONCLUSION
From the present report, it has been concluded that entrepreneurial opportunities is a
significant factor or the element for establishment of new business ideas or organization. It
usually helps an individual to set up new concept or business in relevant sector and execution of
the business plans for achievement of success and objectives. Further, reports will also state that
ideas and values preposition of Atos consulting in context of entrepreneurship. Further,
Providing a high product range is also latent part of business that leads to growth and influencing
more and more customers.
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REFERENCES
Books and journals
Amorós, J.E., Felzensztein, C. and Gimmon, E., 2013. Entrepreneurial opportunities in
peripheral versus core regions in Chile. Small Business Economics. 40(1). pp.119-139.
Covin, J.G. and Miller, D., 2014. International entrepreneurial orientation: Conceptual
considerations, research themes, measurement issues, and future research directions.
Entrepreneurship Theory and Practice. 38(1). pp.11-44.
Donnellon, A., Ollila, S. and Middleton, K.W., 2014. Constructing entrepreneurial identity in
entrepreneurship education. The International Journal of Management Education, 12(3),
pp.490-499.
Garud, R. and Giuliani, A.P., 2013. A narrative perspective on entrepreneurial opportunities.
Academy of Management Review. 38(1). pp.157-160.
Glover, D. and Kusterer, K., 2016. Small farmers, big business: contract farming and rural
development. Springer.
Hopkins, M., 2012. Corporate social responsibility and international development: Is business
the solution?. Earthscan.
Liñán, F. and Fayolle, A., 2015. A systematic literature review on entrepreneurial intentions:
citation, thematic analyses, and research agenda. International Entrepreneurship and
Management Journal. 11(4). pp.907-933.
Pittaway, L. and Thorpe, R., 2012. A framework for entrepreneurial learning: A tribute to Jason
Cope. Entrepreneurship & Regional Development. 24(9-10). pp.837-859.
Ramoglou, S. and Zyglidopoulos, S.C., 2015. The constructivist view of entrepreneurial
opportunities: a critical analysis. Small Business Economics. 44(1). pp.71-78.
Renko, M., Shrader, R.C. and Simon, M., 2012. Perception of entrepreneurial opportunity: a
general framework. Management Decision. 50(7). pp.1233-1251.
Siegel, D.S. and Renko, M., 2012. The role of market and technological knowledge in
recognizing entrepreneurial opportunities. Management Decision. 50(5). pp.797-816.
Suddaby, R., Bruton, G.D. and Si, S.X., 2015. Entrepreneurship through a qualitative lens:
Insights on the construction and/or discovery of entrepreneurial opportunity. Journal of
Business venturing. 30(1). pp.1-10.
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Tang, J., Kacmar, K.M.M. and Busenitz, L., 2012. Entrepreneurial alertness in the pursuit of new
opportunities. Journal of Business Venturing. 27(1). pp.77-94.
Trimi, S. and Berbegal-Mirabent, J., 2012. Business model innovation in entrepreneurship.
International Entrepreneurship and Management Journal. 8(4). pp.449-465.
Tukker, A. and Tischner, U. eds., 2017. New business for old Europe: product-service
development, competitiveness and sustainability. Routledge.
Wirtz, B.W., Pistoia, A., Ullrich, S. and Göttel, V., 2016. Business models: Origin, development
and future research perspectives. Long Range Planning. 49(1). pp.36-54.
Wright, M. and Marlow, S., 2012. Entrepreneurial activity in the venture creation and
development process. International Small Business Journal. 30(2). pp.107-114.
Online
Schumann, D., 2017. “5 Themes Of Success: Straight From The Mouths Of Entrepreneurs”.
[Online].Available
through:<https://www.forbes.com/sites/entrepreneursorganization/2016/11/16/5-themes-of-
success-straight-from-the-mouths-of-entrepreneurs/#7a21c5387061>
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