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Innovation and Enterprise Assignment

   

Added on  2021-04-21

5 Pages711 Words33 Views
INNOVATION AND ENTERPRICEInstitutional affiliationNameDate
Innovation and Enterprise Assignment_1
An opportunity, which can be developed into a profitable business in UAEBusiness opportunity reefer to the sale of any services or products that allows an entrepreneurs to start a business inorder to generate profit. A business o[pportunity is characterized by demand of the particular product or service,availability of resources , experience in the field and a good profit.With UAE being one of the major vacation destinations for tourists around the world, a venture into the hotel industry is an opportunity that can be transformed into a successful business venture.The method used to identify the ventureTrend analysis method Trough trend analysis, I was able to find out that tourism has a become quite popular in the recent past especially in Dubai.The increase in the number of tourists has increased the demand for accommodation and food for the visitors.As a result of this, therefore, a gap exists in the market that needs to be filled to solve the problem of accommodation for visitors.My venturewhich will be a modern hotel will fill this existing gap.SWEET SPOTThe sweet spot is an intersection point for opportunity, passion, and expertise. The opportunity efficiently matches the aspects of the sweet spot. It is coupled with both passion, payout, and purpose (Carsrud & Brännback, 2007).Payout/Big market As identified earlier UAE is a favorite destination for tourists from different parts of the world. The result of this is the demand for services such as accommodation and food throughout
Innovation and Enterprise Assignment_2

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