Strategic Entrepreneurship - Business Opportunity

Running Head: Strategic Entrepreneurship
Strategic Entrepreneurship
Name of the Student:
Name of the University:
Author’s Note

1STRATEGIC ENTREPRENEURSHIP
The primary aim of this paper is based on entrepreneurship and assuming I as an
entrepreneur with the objective of analyzing the potential business opportunity (Gruber, Kim
and Brinckmann 2015). The opportunity recognition of the business development depends on
multiple factors such changes in the government policies, changing marketing conditions and
life experience. However the entrepreneurs connect with different external factors of the
world and take them into consideration before starting any business. As an entrepreneur the
idea of starting the business for producing freshly made juice from the original pulp of the
fruit as it can cater all the section of the society (Costa et al, 2018). There is no particular age
group which can be segmented or marketed for this type of business.
Recognition of opportunity to start a new business or venture comes from process that
is found by the individual and caters to plan with an entrepreneurial mindset about different
approaches of business ventures or ideas. Some people try to drive their idea from other
entrepreneur and create their new opportunity which drives the business by creating new
streams of revenue. The recognition of the opportunity to start a business in manufacturing
juice from original pulp will depend on multiple factors like government policies, changing
marketing conditions and life experience (Maine, Soh and Dos 2015). As an entrepreneur it is
vital to connect the external factor like changing technology, changing marketing techniques,
demographic report, policies and regulation and trends in relevant business variables.
With the help of the following approaches it was easy to build a business and they are
due to the changing technological attributes because with an increase in the efficiency in the
production which results in increased outputs (Cascio and Montealegre 2016). Being an
entrepreneur if I invest or improve the factors of production it will assist to generate a greater
reward for the same type of work. On the other hand with the changing marketing
techniques the business can start with the detailed planned strategies to achieve the objective