Identifying Entrepreneurial Opportunities

This presentation discusses the process of identifying entrepreneurial opportunities and the market gap for entrepreneurial ideas. It explores Porter's Five Forces Model and provides insights from secondary research on coffee consumption. The presentation also includes the results of a questionnaire on customer satisfaction and market share, as well as the barriers faced by new cafes in the market. References are provided for further reading.

Identifying
entrepreneurial
opportunities

INTRODUCTION
• Entrepreneurs considered as an individual who develop a new business and
bearing most of the risks along with enjoy their rewards and benefits every time.
• Entrepreneurs plays significant role within the economy through using different
types of skills and bring new ideas to the marketplace.

Market gap for entrepreneurial idea
• For establishing or launching any new business into the market, this type idea
commonly comes from the entrepreneurial mind set by which they can achieve
desired goals.
• In this report Coffee Break Cafe is going to be establish by having large number
of effective quality of food and coffee items with innovative thoughts.

Porter's Five Forces Model
• Threat of substitute products – There is a threat that other cafes in the area can
also come up with a similar idea of offering their customers similar coffee drinks
at comparatively lower prices as well as with some innovation.
• • Bargaining power of suppliers – The bargaining power of suppliers will
be high as there are several suppliers who supply organic coffee to different cafe.
Thus, thuiis force is strong as they will bargain about prices.

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• Bargaining power of buyers – Bargaining power of the buyers is low since the
cafe is launching a new product, there can be customers who resist adopting the
same and there can be chances that they do not like the taste.
• Threat of new entrants – This threat is comparatively strong as there can be new
cafes that enter the market with innovative and new products. New entrants can
increase the amount of competition in the market.

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• • Competition among existing rivals – There are several cafes in the
locality that compete with each other. Therefore, if competition can impact the
launch of the products as all competitors want to be more competitive than
others. Thus, this makes it a strong force.

Secondary Research
• graph explains the consumption of coffee
among people in the UK over the last few
years. It can be observed that a large number
of people consume coffee, which means that
the respective cafe will have to launch its
product in an innovative as well as unique
way.

Theme 1
Questionnaire Freque
ncy
Q 1) Are you liking the services
offered by the Coffee Break Cafe ?
a) Yes 25
b) No 5

Theme 2
Q 2) Do you like the new product
i.e. Organic Black Coffee offered
by this cafe?
Freque
ncy
a) Yes 20
b) No 10

Theme 3
Q 3) Do you think this restaurant
will be able to enhance it’s market
share within next 6 months?
Freque
ncy
a) Agree 24
b) Disagree 6

Theme 4
Q 4) What are the opportunities for this
new café on doing business?
Frequen
cy
a) Ability to tap into wider market
share s
5
b) Increase in local market share 5

Theme 5
Q 5) According to you, what could be
the barriers faced by this new café
within market?
Frequen
cy
a) Lack of communication 7
b) Unavailability of technology 15
c) All of the above 8

CONCLUSION
• On the basis of overall information provided in the above report, it has been
entrepreneur is the one who is highly skilled and owns capability of performing
the work at their own level by arranging funds, taking risk and enjoying profits.
It is highly important for every entrepreneur to make use of various sources in
order to develop understanding over their respected business and potential
customers

REFERENCES
•Noe, R.A. and et. al, 2017. Human resource management: Gaining a competitive advantage.
New York, NY: McGraw-Hill Education.
•Spurk, D. and et. al, 2016. Why do adaptable people feel less insecure? Indirect effects of
career adaptability on job and career insecurity via two types of perceived marketability.
Journal of Career Assessment, 24(2), pp.289-306.
•Šverko, I. and Babarović, T., 2016. Integrating personality and career adaptability into
vocational interest space. Journal of Vocational Behavior, 94, pp.89-103.