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Identifying Entrepreneurial Opportunity Assignment

   

Added on  2020-06-06

10 Pages3219 Words319 Views
EntrepreneurialOpportunity

Table of ContentsINTRODUCTION...........................................................................................................................1Entrepreneurial Opportunity.......................................................................................................1Entrepreneurial Themes..............................................................................................................3Business idea development.........................................................................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8

INTRODUCTIONEntrepreneurial opportunity is that condition where entrepreneurs will take action forearning maximum profit to the firm (Askari and Geibel, 2012). There are various situation whichhelp in making lot of money or gain extra knowledge and skills for their leaders and managers. Agood entrepreneur always search new opportunities which help in identifying businessopportunity and also analyse the SWOT analysis of an individual. Entrepreneurial OpportunityA business idea is that approach which can be used for gain financial profitability whichis generally focused the various products and services which can be served by money. This is thebase of the business which help in analysing situations and conditions of the entire organisation.An entrepreneur can make and develop those business idea which assist in increasing companygrowth and development. They promising of making some business ideas such as innovation,uniqueness among products and services etc. An entrepreneur idea is to make creative andinnovative goods and services serve among customers. As an entrepreneur, I start a business of online fast food restaurant where customers canpurchase foods items through online system. It is very cost effective and attracting large numberof buyer. In this business, the uniqueness is that if a customer buy some item at first time thenhe/she will get 6% discount on this goods and after some time they again purchase same fooditem then they will get 10% discount rate on its buying price. The target customers of thisrestaurant are those people who are over aged, small kids who can not go to the market for eatingsuch type of food item at any time so this restaurant business can provide them home deliveryproducts for their choice. They also demand for innovative and creative type of goods which areoffered by them in proper manner (Carayannis and et. al., 2014). The company will also targetmarket according to the area situations and condition where more people are come or not. Theyalways target their customers on the basis of their age, location, standard of living, qualificationlevel, gender, occupation, family background, status etc. This is important for an entrepreneur is to focus on their existing customers and thenmake new buyers who interested to purchase their products and services. For target the potentialcustomers then they can promote their goods through advertising, events and marketingcampaigns. As a Entrepreneur I should be specific when they conduct research program which1

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