Identifying Entrepreneurial Opportunities

This presentation discusses the process of identifying entrepreneurial opportunities and innovation. It covers various sources of ideas, market gaps, gap analysis, and the evaluation of entrepreneurial ideas. The presentation also includes a SWOT analysis and an evaluation of the competitive and market environment. The subject of the presentation is entrepreneurship, and it is relevant for students studying business or related courses. The presentation does not mention a specific document type or assignment type. The college/university is not mentioned.

Identifying Entrepreneurial
Opportunities

Table of contents
• Introduction
• Sources of entrepreneurial ideas and innovation
• Rationale and Market gap for specific entrepreneurial idea
• Gap analysis in the evaluation of entrepreneurial idea
• Interpretation of data to provide evidence of market potential
• SWOT Analysis to assess the entrepreneurial idea
• Conclusion
• References

Introduction
Entrepreneur is an individual who establish, launch, regulate and maintain a new
business while taking risk. They are those individuals who recognize various
opportunities and with the help of innovation add value to their new business
venture. In order to become a successful entrepreneur, it is essential to analyse
competitive market and then invest required time, efforts and skills
accordingly. This will help them to create an effective plan by developing
formative vision in order to gain success in their entrepreneurial journey. In
this report a new venture The Family Bean Cafe is going to set up. This cafe
has planned to have exotic environment and include delightful range of coffee.

Different sources of entrepreneurial ideas
and innovation
In present case study, UK government formatively initiate a drive in which they
financially aid young graduates’ entrepreneurs to start their new business ventures. In
order to take approval of government to take finance help form them young graduates
are required to submit their business proposal.
• Mass Media
• Trade fairs and exhibitions
• Interests and Hobbies
• Customer surveys

Rationale and Market gap for specific entrepreneurial
idea
New business idea developed by entrepreneur is launching of a cafe. The Family Bean
Cafe not only is going to offer exquisite range of coffee to their customers but also
provides a magnificent environment which includes colleagues meet, friends talk and
healthy culture for family. Idea of providing Low-seating tables and chairs and regular
educational events and conferences is something a unique and well effective to satisfy
needs of customers in remarkable way. Mentioned below there are concept of market
gap described below in detailed manner:
Technological advancements
Identification of opportunities:

P3 Gap analysis in the evaluation of entrepreneurial
idea
BASIS The Family Bean Cafe Leila's The Bridge
Products and Services Offer exquisite range of coffee and
other food items. In addition to this
delighted environment where regular
educational events and conferences will
be offered.
Leila's offer world-class facilities
to their customers which includes
excellent infrastructure and
modifications in their menu as
per customer demand.
The Bridge offer numerous range
of food and beverage items and
keeps on modifying their menu
on regular basis as per their
customer feedbacks.
Organisation Structure Cafe follow functional structure
according to which task is allotted to
individuals as per their functions.
This cafe has adopted
departmental structure in which
subordinates are only authorized
to take follow up order from their
managers.
This cafe have implemented
matrix structure in which roles
and responsibilities are given to
staff as per according to
functions and product that are
being offered.

Major Attractions Cafe adopted consumer centric
approach and provide decent
environment to their customers in
order to make them loyal.
Leila's offer various range of
food, beverages and mock tails
to their customer and offer
flexible working environment
to their staff.
The Bridge offer excited range
of entertainment facilities and
different type of cuisines in
their Cafe.
Promotional Strategy Cafe promote their venture by
making advertisements in radio,
televisions, newspapers, magazines
and pamphlets.
This cafe promotes their
venture on big public
hoardings, online websites and
different types of social media
platforms.
The Bridge promotes their
business venture via numerous
social media sites and online
websites.

Q1)Are you aware of uniqueness in services offered by The Family
Bean Cafe?
Frequency
a) Yes 30
b) No 10

Q 2) What is your personal interest which you want to have in Cafe? Frequency
 Hygienic and Healthy Environment 9
 Gaming Zone 12
 Free Wi-Fi Zone 13
 Separate Smoking and Bar Zone 6

Gap Analysis
BASIS Current condition Desired condition Action plan
Products and services Provide more innovative
infrastructural and decent
facilities to attract attention of
customers
Market condition currently
include modifications of menu
as per customer demand.
Proper provision of
modifications in cafe menu
according to consumer need in
to satisfy their wants.
Cost Cafe is offering bit low food
products and beverages.
Cafe wish to maintain their
pricing strategy as per pricing
range offered by their
competitors to gain more
earning.
Effective and systematic
pricing strategy will aid them to
maintain their pricing range in
balanced way.

SWOT Analysis to assess the entrepreneurial idea
Strengths: It is essential for an entrepreneur to evaluate their strength in order to
gain more competitive advancements and success in a effective time frame.
Weaknesses: In order to launch new business idea in a marketplace it is essential
for an entrepreneur to evaluate all possible end results in effective way and
develop certain measures to overcome them in formative manner

Continue…
Opportunities: It is necessary for an entrepreneur to find various opportunities prevailing
in market in order to develop their business venture in more feasible manner
Threats: Threats include those elements that affect functioning of business in both internal
and external manner

Evaluation of competitive and market environment
In order to launch a new business idea it is important for an entrepreneur to
evaluate current industry conditions prevailing in market
Competitive Market:
Competitive within industry
Threat of New Entrants
Bargaining Power of Buyers
Bargaining Power of Suppliers
Threat of Substitutes

Conclusion
 As per the above concluded report, it has been analysed that in this fast changing
technological world it is important for an entrepreneur to take advantages of various
opportunities prevailing in marker to ensure their sustainable growth. With the help of
all these opportunities entrepreneur can develop a successful business idea. In this
project, it has been evaluated that it is essential for an entrepreneur to examine all
external environment factors to ensure formative growth.

References
 Bumbudsanpharoke, N. and Ko, S., 2015. Nano‐food packaging: an
overview of market, migration research, and safety regulations. Journal
of food science. 80(5). pp.R910-R923.
 Beske, P., Land, A. and Seuring, S., 2014. Sustainable supply chain
management practices and dynamic capabilities in the food industry: A
critical analysis of the literature. International journal of production
economics. 152. pp.131-143.

Thank You