Identifying Entrepreneurial Opportunities

This presentation focuses on identifying entrepreneurial opportunities and evaluating specific ideas. It discusses the importance of market potentials and the process of conducting gap analysis. The presentation also includes data presentation and interpretation to provide evidence of market potentials. The main theme revolves around the Detox Juice Bar as a new entrepreneurial idea. The presentation concludes with references to relevant research on entrepreneurial opportunities.

TASK 3
Identifying Entrepreneurial
Opportunities

Table of content
 Introduction
 Presentation of data for supporting gap analysis in evaluating particular
entrepreneurial idea.
 Interpretation of data in appropriate manner for providing evidence of
market potentials
 Conclusion
 References.

Introduction
Entrepreneurs are humans that initiate activities to start and manage a new
business with aim to generate huge benefits in terms of profits and
efficiency. Entrepreneurial opportunities are mentioned as circumstances
that assist people to analyse situations and manufacture products for
satisfying market needs.

Presentation of data for supporting gap analysis
in evaluating particular entrepreneurial idea.
Gap analysis is said to the procedure that helps in comparing current
performance to that of desired one. With this method, differences in
performances are defined and aspects are analysed related to whether
requirements of business are met or not. When entrepreneurs analyses that the
requirements are not met then they plans further steps to net then successfully.

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Interpretation of data in appropriate manner
for providing evidence of market potentials.
Detox Juice Bar is the new entrepreneurial idea that offers juices and drinks which
are made from detox ingredients. The main objective of the new idea is to satisfy
choices of population through providing them drinks and juices them helps in
improving immune system, boosting stamina and many more in order to gain
recognition in competing market. The entrepreneur collected data by using primary
as well as secondary sources so to evaluate the effectiveness and awareness about
the idea. The data are interpreted as per the collected market potentials.

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Theme 1: Understanding about preference of detox drinks.
Q1. Do you like detox beverage drinks? Freq
uenc
y
a) Yes 8
b) No 2
a. Yes b. No
0
1
2
3
4
5
6
7
8
8
2
Column B

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Theme 2: Type of detox drinks they prefers.
Q2. What type of detox drinks do you
prefer? Frequency
a) Detox smoothie 4
b) Detox Juices 3
c) Detox dandelion Tea 2
d) Organic smoothies 1
a. Detox smoothie
b. Detox Juices
c. Detox dandelion Tea
d. Organic smoothies
0
0.5
1
1.5
2
2.5
3
3.5
4
4
3
2
1
Column B

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Theme 3: Awareness about Detox Juice Bar.
Q3. Have you heard about Detox Juice
Bar? Frequen
cy
a) Yes 6
b) No 4
a. Yes b. No
0
1
2
3
4
5
6
6
4
Column B

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Theme 4: Spendings on Detox Drinks.
Q4. How often you make spending on
detox drinks? Frequency
a) Everyday 3
b) Occasionally 4
c) Once in a week 1
d) Once in a month 2
a. Everyday
b. Occasionally
c. Once in a week
d. Once in a month
0
0.5
1
1.5
2
2.5
3
3.5
4
3
4
1
2
Column B

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Theme 5: Success of Detox Juice bar in Wimbley.
Q5. Do you think that Detox Juice Bar
will attain success at Wembley? Freque
ncy
a) Yes 7
b) No 3
a. Yes b. No
0
1
2
3
4
5
6
7
7
3 Column B

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Theme 6: Is detox Juice producing more effective drinks than any
drinking products.
Q6. Is detox Juice producing more
effective drinks than any drinking
products?
Freque
ncy
a) Yes 7
b) No 3
a. Yes b. No
0
1
2
3
4
5
6
7
7
3 Column B

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Theme 7: Key attracting features of Detox Juice Bar.
Q7. What are the key attracting
features of Detox Juice Bar? Frequency
a) Quality 3
b) Price 4
c) Sustainability 1
d. Other 0
a. Quality b. Price c. Sustainability
0
0.5
1
1.5
2
2.5
3
3.5
4
Column B

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Theme 8: Are people satiate with the standard outcome of products of
Detox Juice bar.
Q8. Are you satiate with the standard
outcome of products of Detox Juice bar? Frequen
cy
a) Yes 6
b) No 4
a. Yes b. No
0
1
2
3
4
5
6
6
4
Column B

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Theme 9: Experience after consumption of products offered Detox
Juice bar.
Q9. What is your experience after
consumption of products offered Detox
Juice bar?
Frequen
cy
a) Positive 8
b) Negative 2 a. Positive b. Negative
0
1
2
3
4
5
6
7
8
8
2
Column B

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Theme 10: Cost charged for commodities of Detox Juice Bar are
unaffordable or high.
Q10. Dose cost charged for commodities of Detox Juice
Bar are
unaffordable or high?
Frequency
a. High 5
b. Low 3
c. Moderate 2
a. High b. Low c. Moderate
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Column C

Conclusion
The above presentation concludes that entrepreneurs used various sources
and platforms to identify entrepreneurial opportunities. They conducts
research for evaluation any particular ideas. Major sources of research are
primary research through which information to evaluate the idea is collected
directly from respondents through questionnaire method. Moreover, data
collected is presented and interpreted as per viewpoints of market potentials.

References
 Grégoire, D. A. and Shepherd, D. A., 2012. Technology-market combinations
and the identification of entrepreneurial opportunities: An investigation of the
opportunity-individual nexus. Academy of Management journal. 55(4).
pp.753-785.
 Shane, S., 2012. Reflections on the 2010 AMR decade award: Delivering on
the promise of entrepreneurship as a field of research. Academy of
Management Review. 37(1). pp.10-20.

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