Identifying Entrepreneurial Opportunities Assignment Copy
Added on -2021-02-21
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IDENTIFYINGENTREPRENEURIALOPPORTUNITIES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Measure the different sources of entrepreneurial ideas and innovation................................1TASK 2...........................................................................................................................................2P2. Explanation of the rationale and market gap for the particular entrepreneurial idea usingapplicable tools and techniques to aid entrepreneurial choice.........................................................2TASK 3............................................................................................................................................4P3. Actual data required to support gap analysis in order to measure a specific entrepreneurialidea..............................................................................................................................................4P4. Interpret data especially to provide evidence of market potential........................................6TASK 4..........................................................................................................................................10P5. SWOT framework to collect evidence to support an objective assessment of a specificentrepreneurial idea...................................................................................................................10P6. Competitive and market environment in which idea will be launched to assess potentialviability.....................................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCE.................................................................................................................................14
INTRODUCTIONAn entrepreneur is the person who self operates business industries in a an effectivemanner. Entrepreneur is able to take all kind of risk in order to operate their business functionseffectively. According to the all economic conditions an entrepreneur is focused on theirproduction factors properly an this process is also considered as the fourth factor of productionwhich includes in different new techniques like mobile, online transactions, ATMs, Credit cardsand these all are the examples of entrepreneurial ideas that mainly converted in the goods andservices. In this report Green Chile Restaurant is going to be launch. This restaurant is planningto have different types of fast food items in order to impress people in a proper way. Along withthis restaurant has several kind of lights and colourful themes to make this business effectively.Furthermore this report will consider several kind of sources of entrepreneurial ideas andinnovation, GAP market and Rationale market for the entrepreneurial idea, interpretation of data.Along with this SWOT framework and competitive marketing environment will get covered inthis report (Audretsch, 2012). TASK 1P1. Measure the different sources of entrepreneurial ideas and innovation.As UK government is very helpful for everyone so that an entrepreneur can easily launchtheir new business or start-up in an effective manner. With the help of this they can achieve theirtarget and goals effectively. But for the better improvement government always focus onyoungsters in order to achieve target instantly. This concept is helpful for entrepreneur in orderto take good decision towards their business. With the help of this an entrepreneur can developnew and effective innovative ideas in a proper way. There are different sources by which anentrepreneur can have innovative ideas, those are listed below:Hobbies and Interest: Hobby is the activity in which entrepreneur can enjoy theirprecious time in order to make their business ideas effectively. With the help of this people haveestablished their successful business idea while doing their hobbies effectively. In the time oftravelling an entrepreneur or individual can be able to think positive and make their innovativeplan effectively. For example if one person has interest in travelling and tours than he will gowith their interest so that he can think positive properly. Wherein if person has hobby to cooksomething than he will think about their food and implement their ideas easily. Now this can be1
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