Report on Entrepreneur Difficulties and Opportunities

IDENTIFYING
ENTREPRENEURIAL
OPPORTUNITY

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Evaluation of different sources of entrepreneurial ideas and innovation.........................1
TASK 2............................................................................................................................................4
P2 Explain the rationale and the market gap for a specific entrepreneurial idea...................4
TASK 3............................................................................................................................................5
P3 Presenting data to support gap analysis and evaluation....................................................5
P4 Interpretation of data availed.............................................................................................7
TASK 4............................................................................................................................................7
P5. SWOT analysis to assess the entrepreneurial idea...........................................................7
P6 Evaluating competitiveness and market environments.....................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
A business environment is consist of various opportunities to build a business and make
money but selection of those opportunities and implementation of the same is a difficult task. An
entrepreneur is a person who observes these external opportunities in the environment and tries
to capitalise on it. There are various characteristics as well as features of an entrepreneur, for a
normal person to become entrepreneur, He must carry these Characteristics. Some of the
characteristics of an entrepreneur would be to Innovate, to observe, Initiator, Risk Taker etc. An
economy cannot grow beyond a point if its land would not carry various entrepreneurs who
would turn problems into opportunities. Every country as well as economy would want such
entrepreneurs within themselves (Arregle and et. al., 2015 ). Entrepreneurship is not an easy
task, it requires to lot of Guts and Risk taking abilities, which usually a normal person would
lack. An entrepreneur can help society in various ways, like by opening of a new venture, he will
be able to give employment opportunities for various people, and will be contributing in the
development of economy through innovation etc. The current report will throw some light on the
factors which are crucial for becoming an entrepreneur and what are the difficulties and
opportunities that would come across in the path of becoming a successful entrepreneur.
CIELLA Ltd. Is a new start up company which deals in manufacturing of clothing and various
other textiles. The report will have a very detailed discussion on this organization and various
challenges that it may face going forward.
TASK 1
P1 Evaluation of different sources of entrepreneurial ideas and innovation.
An entrepreneur is a person who changes challenges and difficulties in an opportunities
and make a successful venture out of it. If there will be proper entrepreneurial opportunities
within any nation, then it can create a huge advantage to that nation going forward. There are
various factors that are being considered for opening a successful venture (Baptista., Karaöz and
Mendonça, 2014 ). If a person decides to become an entrepreneur, it will not only help him to
become a leader and be successful in life, but it will aid society in various ways like, higher
employment, more taxes to the government and fulfilment of demands of various consumers
within the society. There are various types of strategies that can be followed by an entrepreneur
1