Entrepreneurial Opportunities: Competitive Analysis and Strategy

This assignment analyzes entrepreneurial opportunities within the context of a coffee shop business. It begins with an introduction to the role of entrepreneurs and the importance of identifying opportunities. A key component of the analysis is a competitive analysis, comparing the proposed "Hot Cup Cafe" to existing coffee shops ("Regal Cafe" and "Classic Cafe") based on factors such as goods and services, organizational structure, leading attractions, and promotional schemes. The assignment includes primary research, such as a survey, to understand customer preferences regarding coffee consumption habits, including frequency, location, and desired improvements. Based on this analysis, the assignment provides recommendations for the Hot Cup Cafe, particularly focusing on leveraging technological advancements to enhance customer service and ensure long-term sustainability. The conclusion emphasizes the entrepreneur's role in developing innovative business ideas and adapting to consumer needs and wants, highlighting their significance in the economy. Finally, it lists the references used in the assignment.

Identifying Entrepreneurial
Opportunities
P3 and P4

Introduction
 Entrepreneur is an individual who mainly formulates and creates
innovative ideas for business and always bearing most of the risks along
with almost enjoying rewards.
 On the other side, entrepreneur is mainly seen as an innovator, a source of
different types of goods and services as well as effective procedure.

Competitive Analysis (Secondary Research)
BASIS Hot Cup Cafe Regal Cafe Classic Cafe
Goods and Services This cafe will offer herbal healthy coffee
with affordable price. Along with it has
large number of food varieties to satisfy
consumer's
This cafe is offering convenient
meal with high quality and high
price.
It gives unique items to grab
customer's attention. As this
cafe having several kinds of
food that attract the
consumers most.
Organisational Structure Entrepreneur generally use corporate
structure to provide better coffee to
customers by having aim to gain huge
success into the Hot cup cafe.
This cafe having departmental
structure to give better services to
customers.
It has matrix structure which
is used for giving training to
employees.
Leading Attractions This cafe will provide effective discount
on so many products.
To make better attractions on
consumers they mainly use
effective theme at food place.
They use discount strategies
by which they can grab
consumer's attention.
Promotional Schemes For promoting strategy, this cafe will use
TV, online websites, magazine and many
more.
Regal cafe has inline marketing
promoting channel and so on.
This cafe for promoting its
goods and services uses
newspapers and social media.

Q1) Why do you drink coffee?
Q1) Why do you drink coffee? Frequency
For taste 5
To stay awake 5
As habit 10
Mean 5
Median 5
Mode 5

Q2) How many times do you drink coffee?
Q2) How many times do you drink coffee? Frequency
1 time 8
2 time 2
More than 2 10
Mean 5
Median 5
Mode 0

Q3) Do you drink coffee?
Q3) Do you drink coffee? Frequency
Yes 15
No 5
Mean 10
Median 10
Mode 0

Q4) Where do you prefer to have coffee?
Q4) Where do you prefer to have coffee? Frequency
At coffee shop 5
At home 10
Any other place 5
Mean 6.55
Median 5
Mode 5

Q5) Recommend valued suggestions for
further changes into the Hot cup cafe?
 In order to provide more better services it has been recommended to
entrepreneur that, they should adopt more technological change by which
they can attract more and more consumers within short period of time. By
doing such kind of thing respective business could be sustain for long time
at marketplace.

Conclusion
 From the above representative PPT it has been analysed that, entrepreneur
plays important role within every humans life as they always develop
better ideas and though for the business through focusing on consumer's
needs and wants. Therefore, an entrepreneur is considered as an significant
aspect for economy.

Reference
 Ilonen, S., Heinonen, J. and Stenholm, P., 2018. Identifying and
understanding entrepreneurial decision-making logics in entrepreneurship
education. International Journal of Entrepreneurial Behavior & Research.
 Kier, A. S. and McMullen, J. S., 2018. Entrepreneurial imaginativeness in
new venture ideation. Academy of Management Journal. 61(6). pp.2265-
2295.
 Kim, H. J., 2018. Reconciling entrepreneurial orientation and dynamic
capabilities: a strategic entrepreneurship perspective. The Journal of
Entrepreneurship. 27(2). pp.180-208.