Identifying Entrepreneurial Opportunities

This document discusses the different sources of entrepreneurial ideas and innovation, the rationale and market gap for a particular entrepreneurial idea, SWOT analysis, and the market and competitive environment in which the idea will be launched. It also includes a PESTLE analysis and highlights the importance of technological advancements and legal factors.

Identifying
Entrepreneurial
Opportunities

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Different sources of entrepreneurial ideas and innovation..................................................................3
TASK 2.......................................................................................................................................................5
P2 Rationale and market gap for particular entrepreneurial idea using appropriate relevant methods and
tools.........................................................................................................................................................5
TASK 3.......................................................................................................................................................6
TASK 4.......................................................................................................................................................6
P5 SWOT analysis...................................................................................................................................6
P6 Market and competitive environment in which idea will be launched to assess potential viability....7
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11
Appendix...................................................................................................................................................13
Curriculum Vitae....................................................................................................................................13

INTRODUCTION
Entrepreneur refers to the person or individual who always able to create new ideas of
business along with bearing huge risks factor and enjoy their rewards or benefits any time.
Therefore, entrepreneur plays significant role as they commonly provide job opportunities to
people along with increase their skills or knowledge in an effective manner. Herein budding
entrepreneur considered as most important factor that take helps from virgin money company to
run their business successfully (Dai and Liao, 2019). Present assignment is going to produce
Coffee Tree Café with the aim of having French Vanilla Coffee with innovative offers for
customers. Additionally, several kinds of entrepreneurial ideas follow Porter’s five forces model
and Drucker’s 7 source model. After this, marketing gap analysis along with SWOT and
PESTLE analysis in regards with business will get identified.
TASK 1
P1 Different sources of entrepreneurial ideas and innovation
According to the economy of UK businesses are speedily growing day to day that
manages overall growth of firms. With the help of this they can achieve targeted goals and
objectives with huge profits. Apart from this, there is large number of firms in which
entrepreneur’s plays significant role in order to launch new products or businesses at
marketplace. Therefore, every entrepreneur required to think innovative so that they can make
better decision towards achievement of goals. There are so many sources of entrepreneurial
ideas, those are as follows:
Exhibitions and trade fairs: It is most considerable source for entrepreneurs by which
they can develop best ideas for businesses. Through attaining ample number of trade fairs or
exhibitions they can learn new concepts or able to implements on different innovative ideas to
get better outcomes. It also helps them to overcome issues and achieve targeted goals (Liu, Zhou
and Li, 2019).
Mass media: It consist radio, internet, magazine and many more sources. By attaining
these assorted sources entrepreneurs are able to achieve huge opportunities used to make

innovative decision of business. In regards with Coffee Tree Café, they can achieve advantages
through using this source.
Interest and hobbies: In this, entrepreneurs able to think high in order to manage their
business ventures or startups to achieve targeted objectives. In regards with Coffee Tree Café
they have interest to achieve fixed goals and their hobby is to launch qualitative French vanilla
coffee for satisfying customer’s needs and wants.
There is another way to understand the concept of different sources to bring innovation at
workplace by entrepreneurs. Herein, Peter Durcker’s model has been used, mentioned in
beneath:
The unexpected: According to business there are huge changes every day so that they
can form new goods and services through following this source for innovation. This source of
model should not use by an entrepreneur as changes are so much Thus, entrepreneur needed to
focus on several changes so that they can grow accordingly (Scott, 2019).
Incongruities: According to this source firms are generally fall into trap of establishing
their services without do a proper research on that. Herein, budding entrepreneur needed to
conduct research to launch their business properly.
Process need: In this entrepreneurs needed to identify their goals so that they can get
such alternatives to reduce errors from business.
Market and industry structure change: In this source business should focus on the
technological change in order to make attractiveness of business in front of customers.
Demographics: These types of changes identify needs of product at marketplace. In
regards with respective business they should segment their goods as per the education,
employment and age level so that they can target their goals on time (Mobini Dehkordi, 2019).
Change in perception: In this respective business needed to involve within few social
points so that they can increase business growth properly. Bringing changes build strong relation
with customers so that they can attain predetermined goals.

New knowledge: It is based on scientific or technological change in which respective
business requires to modify their supply chain system in order to recruit high skilled employees
so that they can increase their workforce or increase the chances of achievement of its target.
TASK 2
P2 Rationale and market gap for particular entrepreneurial idea using appropriate relevant
methods and tools
Launching new business at marketplace idea always comes from the entrepreneurial mind
in order to achieve targeted goals and objectives in an effective manner. According to this
assignment Coffee Tree Café going to launch French Vanilla Coffee by using several ingredients
that makes coffee special. Apart from this, respective restaurant also deals with assorted fast food
items like pan cake, cookies, burger, pizza and many more. On the basis of this, an entrepreneur
able to satisfy customer’s wants and achieve targeted goals in an appropriate manner.
Furthermore, it will help business to sustain at marketplace for long duration (Patel, 2019).
In the context of Coffee Tree Café as this is going to establish new product in order to
satisfy every needs of people at marketplace. Along with this, they are also offering different
types of offers on their goods so that they can achieve competitive pricing strategies. There are
so many other arrangements for customers like designer tables, unique sofa set and colorful
lightning themes and so on. This is the reason beyond launching new product in this café. With
the help of this café customers can change their mind set towards coffee along with they will like
it. On the other side, gap analysis refers to the several kinds of buyers with the competitive era.
Herein, respective café is needed to formulate innovative ideas every time so that they can make
themselves attractive and satisfy consumers. With the help of doing such kind of thing they can
fulfill gap analysis within their business concept (Goel, Jones and Karri, 2019). In regards with
Coffee Tree Café gap analysis has been accomplish by entrepreneur in few ways that are:
Technological advancement: With the modernization of techniques needs and wants of
people are increasing every day. Thus, entrepreneur who runs a business needed to adopt few
technologies to achieve targeted goals within short period of time. With the help of identifying

needs of people they can develop better strategies that fill the gap and sustain for long time at
marketplace.
Identify opportunities: For attaining several kinds of competitive scenario it is essential
for entrepreneur to opt huge changes within their business so that they can achieve business
oriented goals and satisfy every consumer’s need or want at marketplace. It also helps them to
fulfillment of gap and analyzes their people needs from themselves (Poblete, Sena and Arroyabe,
2019).
TASK 3
Covered in ppt
TASK 4
P5 SWOT analysis
It is essential for an entrepreneur to determine their entire strength, weakness,
opportunities and threats of their business so that they can be aware with different types of
business factors. Herein, entrepreneur of respective business needed to conduct this analysis in
order to know what kind of changes they should bring, those are mentioned below:
Strength Weakness
Budding entrepreneur has numerous options to
manage its financial aspect by using ample
number of resources like virgin money. On the
other side in regards with Coffee Tree Café, as
they have been selected great location so that
they can easily give their services to large
number of people and achieve targeted goals
(Davari, Emami and Seyedi, 2019).
For launching new business and product at
marketplace it is essential for every
entrepreneur to think about location if they
don’t than it shows their weakness. Like
Coffee Tree Café will going to be launch at
good location but at same time there is an issue
of transposition cost services that can reduce
their attractiveness in front of their customers.
Opportunities Threat
Budding entrepreneurs able to get
opportunities to expand their business in a
large way as they have huge sources to manage
There are so many types of firms and business
who are thinking to launch new business with
motive of satisfying people needs and wants.

its financial activities. Herein, Coffee Tree
Café generally needed to conduct market
research before entering so that they can grab
opportunities to increase their business goals.
Therefore, it can develop tough competition for
budding entrepreneurs. Therefore, they are
needed to opt effective cost strategies to
achieve targeted goals (Neumeyer and et.al.,
2019).
P6 Market and competitive environment in which idea will be launched to assess potential
viability
An entrepreneur of Coffee Tree Café going to launch their business within the UK
essential to evaluate entire situations of market to give huge satisfaction to their customers. This
café provides ample number of services to people so that they can achieve their desired goals.
For identifying competitive environment they used PESTLE analysis, those are as follows:
Political factor: Within the UK political factor is stable thus, country has good strength
or fruitful for firms as well. In regards with, Coffee Tree Café they are needed to focus on this
factor in order to run their overall business activity in a perfect way (Leppänen, McKenny and
Short, J2019).
Economic factor: It is very essential for this analysis in which respective business
requires to focus on inflation rate so that they can increase their sales and able to sustain for long
time.
Social factor: UK has large consumer market so that in regards with Coffee Tree Cafe
needs to determine population or segment their services according to them.
Technological factor: Advancement of techniques always influences people every time.
Thus, respected business needs to bring huge technologies so that they can get have opportunities
to reach high level of business (Khoshmaram, Shiri and Savari, 2019).
Legal factor: It includes so many rules and regulations given by government of UK. In
regards with Coffee Tree Café, it is essential for them to consider every governmental rule so
that they can provide their services accordingly (Marx and Hsu, 2019).

Environmental factor: It impacts on overall environmental activities along with it
overcome negative impact. It includes local councils, newspapers, charities and many more.
Herein, respected business needs to follow this factor to reduce unwanted factors from their
business (Mohammadi, Sajadi and Sakhdari, 2019).
CONCLUSION
According to the above specified assignment it has been examined that, an entrepreneur
plays crucial role in each people life as they give better opportunities to them along with

accomplish their overall needs and wants in an effective manner. On the other side, entrepreneur
of respective business use innovative ideas from various sources through borrowing money from
virgin money organization. With the help of this they are able to achieve their targeted goals in
perfect mode. Along with this there has been SWOT and PESTLE analysis specified by which
business can determine their targeted goals and able to fix their best position at marketplace.
Thus, it identifies entrepreneurial opportunities within the competitive scenario.
REFERENCES
Books and Journal

Dai, W. and Liao, M., 2019. Entrepreneurial attention to deregulations and reinvestments by
private firms: Evidence from China. Asia Pacific Journal of Management, 36(4),
pp.1221-1250.
Liu, Z., Xu, Z., Zhou, Z. and Li, Y., 2019. Buddhist entrepreneurs and new venture performance:
the mediating role of entrepreneurial risk-taking. Small Business Economics, 52(3),
pp.713-727.
Scott, J.T., 2019. Entrepreneurial Network Effects. Entrepreneurial Complexity: Methods and
Applications, p.49.
Mobini Dehkordi, A., 2019. Introducing a model for evaluating entrepreneurial opportunities
based on fuzzy approach. Management Research in Iran, 23(1), pp.75-97.
Patel, P.C., 2019. Opportunity related absorptive capacity and entrepreneurial
alertness. International Entrepreneurship and Management Journal, 15(1), pp.63-73.
Goel, S., Jones, R.J. and Karri, R., 2019. Conceptualizing and investigating entrepreneurial
action in family firms: A few promising directions. In The Palgrave handbook of
heterogeneity among family firms (pp. 873-907). Palgrave Macmillan, Cham.
Davari, A., Emami, A. and Seyedi, S., 2019. Investigating the Effect of Inbound and Outbound
Open Innovation on Discovery and Exploiting of Entrepreneurial Opportunities.
In Open Innovation and Entrepreneurship (pp. 51-66). Springer, Cham.
Poblete, C., Sena, V. and Fernandez de Arroyabe, J.C., 2019. How do motivational factors
influence entrepreneurs’ perception of business opportunities in different stages of
entrepreneurship?. European Journal of Work and Organizational Psychology, 28(2),
pp.179-190.
Neumeyer, X., Santos, S.C., Caetano, A. and Kalbfleisch, P., 2019. Entrepreneurship ecosystems
and women entrepreneurs: a social capital and network approach. Small Business
Economics, 53(2), pp.475-489.
Dias, C.S., Rodrigues, R.G. and Ferreira, J.J., 2019. What's new in the research on agricultural
entrepreneurship?. Journal of rural studies, 65, pp.99-115.
Leppänen, P.T., McKenny, A.F. and Short, J.C., 2019. Qualitative comparative analysis in
entrepreneurship: Exploring the approach and noting opportunities for the
future. Standing on the shoulders of giants: Traditions and innovations in research
methodology, pp.155-177.
Khoshmaram, M., Shiri, N. and Savari, M., 2019. Effect of Climate Change Dimensions on
Agricultural Entrepreneurial Opportunities Recognition. International Journal of
Agricultural Management and Development, 9(4), pp.307-318.
Marx, M. and Hsu, D.H., 2019. The Entrepreneurial Commercialization of Science: Evidence
From'Twin'Discoveries. Available at SSRN 3312499.

Mohammadi, G., Sajadi, S.M. and Sakhdari, K., 2019. An Entrepreneurial Decision-Making
Model: A Case Study of the Electronic Business of Tehran. Iranian Journal of
Management Studies, 12(1), pp.25-44.
Appendix
Curriculum Vitae

Curriculum Vitae (CV)
Name: Mr. Ben
Contact Number: [phone]
Email Id: [e-mail]
Address: Elizabeth Street, England, UK
Extremely prepared and energetic candidates with great judgmental and serious thoughtful
capabilities. Developer as well as good communicator with logical intelligent capacities which
will help while resonant out missions.
Key skills:
 Time management
 Creative as well as analytical problem solving capabilities
 Knowledge of Core Java, Android, SQL and Python
 Enhanced communication skills
Educational Qualification:
Graduation: Bachelors of Engineering (B.Tech)
University of Oxford, United kingdom
Year: 2019
Certification: Certified Ethical Hacker
Oracle Certified Associate