Entrepreneurial Opportunities and Strategic Drivers for Zingerwoods

Global
Entrepreneurship

Table of Contents
Summary..........................................................................................................................................3
INTRODUCTION...........................................................................................................................3
STRATEGIC DRIVERS.................................................................................................................4
ANALYSIS......................................................................................................................................5
EVALUATIONS.............................................................................................................................6
IMPACT..........................................................................................................................................8
Risk analysis....................................................................................................................................9
COST.............................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

Summary
The present report talks the concept of entrepreneurial opportunities, where a new
business entity named as Zingerwoods introduce products which are made up of woods. The
products offered by them includes toothbrushes, water bottle and many more. Before entering
into the marketplace, it has been said that management team must conduct a feasibility teat so
that market analysis can be conducted. It has been said that, company is using a Ocean strategy
with the help of which, managers will be able to resolve competition level available at the
marketplace by offering products free of cost products in their initial stage. Along with this,
Porter's five force analysis model is used by the management team in order to identify the level
of competition available at the marketplace before launching new products.
INTRODUCTION
It has been said that the main concept of “entrepreneurial opportunity” is define as the
central for the theory and study of entrepreneurship. It refers to the situation where goods and
services sold by them at higher price than the overall cost of the production. In general words,
entrepreneurial opportunities refers to the situation where individuals take effective actions in
order to make more profit at the marketplace (Acs and et. al., 2018). It is the report which is
based on a company named as Zingerwoods so that understanding on the topic of entrepreneurial
opportunities will be increased. It has been said that the present organisation decides to launch a
new products which are water bottle, tooth brushes and many other daily consuming products at
the marketplace of UK, London. The main reason behind innovating new products at the
marketplace which are made up of wood is that plastic creates pollution and can harm the whole
environment. Apart from this, usage of plastic might affect the health of individual people.
Before launching these products, management team of the company need to examine the
feasibility of the products at the marketplace (Ács, Szerb and Autio, 2016). Furthermore,
company offer these products to the customers through their official websites where they can
take orders from their clients and provide them high qulaity products in an effective manner.
This report includes various sections where an analysis on strategic drivers are going to be
discussed in a detail manner. For this, Porter's five force analysis is going to be conducted by
them. In addition to this, an analysis on the impact of the products offered by them are discussed
in an effective manner.

STRATEGIC DRIVERS
Strategic drivers refers to the forces that basically influences companies to provide shape
to their specific organizational strategy. These strategies are shaped up effectively in terms of
both internal as well as external forces. With reference to the current provided scenario, business
idea owner of Zingerwoods emphasizes on analyzing developing their knowledge on Key
strategic drivers that will support them in shaping up their idea of developing and providing
wood oriented products that will be further sold to customers (Acs, Szerb and Autio, 2017).
These wood products will basically be introduced for the society in order to minimize or replace
the use of plastic in such day to day usable zone such as toothbrush, bottles etc. In order to
analyze strategic driver for the present stated concept of Zingerwoods. In this regard, business
owner have planned to go for blue ocean strategy for leading the marketplace and grabbing
attention of maximum number of customers zone within UK market especially London.
Explanation of Blue Ocean Strategy is given below in effective manner:
Blue Ocean Strategy: It is seen as the effective strategy which emphasizes on pursuing
differentiation and low cost strategy at the time of introducing new product in the market place.
This strategy is commonly used by business associations in creating their demand at market
place by reducing demand of existing competitors at the certain basis. The specific strategy
mainly pushes other rival companies belonging to the same industry to cross their boundaries and
provide unique products to its customers in effective manner (Ashourizadeh and Schøtt, 2016).
With the reference to the current provided business scenario of Zingerwoods, it can be
said that Blue Ocean Strategy is best feasible for them because their concept is completely new
and will surely support them in creating demand of their respective product within the UK
market place. As per this strategy, it will be required by its respective manager of the company to
launch their products for the completely free at London market in order to create their own
demand ion the same marketplace. Here, they will be required to provide vouchers at local retail
stores so that local customers can easily develop their knowledge about the same and grab their
coupon codes by which they can easily get free products (Berger and Kuckertz, 2016). Code
mentioned on these vouchers could be further used by the customer on website can easily order
to same product for completely free. Along with this, it can be further said that usage of this
strategy will ultimately place negative impact over the existing companies offering same
consumable products belonging to plastic range. Providing completely free products to customer