Identifying Entrepreneurial Opportunities (PDF)

Identifying
Entrepreneurial
Opportunities

Table of Contents
INTRODUCTION...........................................................................................................................1
LO1 Analysis possible sources for new as well as innovative business idea..............................1
2 .An introduction to the business ideas, what it is, who as well as where potential customers
and target audience......................................................................................................................3
3 Competitor analysis of the market and also evaluate its success as well as failures................3
4.GAP analysis.............................................................................................................................4
5. Secondary market Research.....................................................................................................6
6 Strengths and Weaknesses of the business ideas and also evaluate their opportunities for
growth as well as threats..............................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
An entrepreneur is an individual who can set up new business, enjoying most of the
rewards and have the ability to bear most of the risk(Kirzner, 2015) . They are commonly known
as innovator, business procedures as well as a source of new ideas services and goods. An
entrepreneur plays a key role by using skills and necessary initiatives to bring the good ideas to
the market. Present report lay emphasis on the Organic coffee limited company possible ways of
new as well as innovative business ideas. It also lay emphasis on the introduction of the business
ideas which is organic coffee and target the audience and potential consumers. Furthermore, it
also focuses on the competitive analysis of the market and it focuses on the secondary market
research and swot analysis of the organic coffee shop.
LO1 Analysis possible sources for new as well as innovative business idea
The 7 sources of innovative opportunities considered by Peter Drucker is one of the best
great management. The seven sources of innovation opportunity is given below (Venkataraman,
2019).
The Unexpected
The market place is full of unexpected surprises as well as failures. As unexpected
situations can be more powerful within the business world as they can motivate the leaders or
managers of organic coffee limited company to attract towards the more innovation and also
takes advantages of the opportunities that emerge within the market.
Incongruities
It is defined as a disconnection between the what is it and what should be( people desire)
Many firms can trap of developing their product without any actual research (Kuratko, 2016).
This leads to the downfall of the firm but it can also be a great source of motivation for the
innovators. As customers feedback, reviews as well as complaints are the best ways to know the
incongruity.
Process Need
it is more task focused rather than situation focused. Here source of opportunity came
from scrutinized the process of the organic coffee limited company and also identify the weak
spots of the company and how they can improve it (Burns, 2016).
Change in Perception
1

Over the time people change,their lifestyle changes,the way they see the things changes,
and also things are modified over the time as smart companies like organic coffee limited have to
pay more attention towards these changes (Storey, 2016). Religion is known as the example such
as company can do changes according to the culture such as Islam.
New and innovative business idea is organic coffee shop, research has even shown that
the organic coffee has various benefits for environments, Health and farmers benefits who grow
organic coffee.
Health Benefits
Chemical farms uses pesticides, herbicides, insecticides, fungicides determined that
different studies damages reproductive as well as nervous system and also causes cancer. Here
conventional as well as traditional plants grow by using these methods and also pass the body
(Barringer, 2015).
Here 100 % certified organic coffee carry vitamins, antioxidants, minerals which are necessary
for the Human body for the various benefits for example protection from various cell damages as
well as boosting immune system. As pure organic caffeine is strong as well as energy booster
that increases proper functioning of brain.
Environmental benefits
High demand of coffee leads the coffee owners to the clear cut forest in order to fulfil the coffee
plantation needs that will seriously damage the environment (Khoshimov, Eckhardt and
Goldfarb, 2019). Many of the coffee planters also uses chemical fertilizer so that they can feed
the plant and also uses the pesticides so that plants can be saved from pests. Here he nutrition of
the soil as weld as natural predators for the coffee pests are also gone.
So choosing organic coffee helps to save from the environment damage as most of the
coffee owners uses the method called shade growing method and with that also taking benefit of
natural canopy of rainforest. Here organic coffee farming no use of chemical seeing into the
soil ,air or water which can cause grief to the farmers or also the nearby population.
Farmer Benefit -Organic farming makes land healthier as well as makes soil fertile, which
enhances the quality as well as quantity of the soil. As it decrease the exposure of the farmers to
toxic chemicals. Here the organic coffee growers offers a high rate of payroll to the employees.
Arabica coffee beans (also involves the soil it grows) is free from the residues,artificial fertilisers
and also chemical fertilizers which provides three times guarantee to the high quality to the
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