Analyzing Entrepreneurial Opportunities for West Inn Hotel

This assignment analyzes entrepreneurial opportunities within the context of West Inn Hotel. It begins with an introduction to entrepreneurship, emphasizing the role of innovation and risk-taking. A key component is a gap analysis, which assesses the difference between the current and desired performance of the hotel. The assignment includes a questionnaire designed to gather customer feedback on various aspects of the hotel's services, such as innovative facilities, service preferences, pricing, and satisfaction levels. The collected data is then interpreted to provide evidence of market potential, with a focus on central tendency measures like mean, median, mode, and standard deviation. The analysis identifies areas for improvement and potential strategies. A detailed gap analysis identifies disparities between the current and desired states across products and services, cost, and innovation, followed by actionable plans. The assignment concludes with a discussion of West Inn Hotel's business objectives, including strategies to enhance customer loyalty and ensure sustainable business operations. The assignment also includes a list of relevant references to support the analysis.

Identifying
entrepreneurial
opportunities
(LO3)

Content
 Introduction
 Gap analysis in the evaluation of entrepreneurial idea
 Questionnaire
 Interpret data appropriately to provide evidence of market potential.
 GAP Analysis
 Business objectives of West Inn Hotel
 Conclusion
 References

Introduction
An individual who seeks to take the necessary risks and perform certain
types of business activities inclusive of products and services that
are totally desirable by the market. The opportunities of
entrepreneurship are the determined ideologies and innovations that
creates a connecting bond between the individual and commercial
market

Gap analysis in the evaluation of
entrepreneurial idea
Gap analysis can be defined as an important procedure which is
undergone by entrepreneurs while launching a new idea into
marketplace (Audretsch, D., 2012). This provides assistance to them
in making determination of the variance underlying between present
and desired performance of a venture.

Questionnaire
QUESTIONNAIRE
Q1) Do you have knowledge about the innovative facilities being provided within the confines of West Inn Hotel?
 Yes
 No
Q2) As per your opinion, which service is the one that you most take into consideration while doing the selection of a hotel
for the purpose of accommodation?
 Free Wi-Fi
 Hygienic and multi-cuisine food
 Gaming zone
Q3) Do you the think the price offered by West Inn for services provided by them is suitable?
 Yes
 No
Q4) Do you derive satisfaction from the services provided by West Inn Hotel?
 Yes
 No
Q5). Give some recommendations for service improvement within the confines of West Inn.

Theme 1: Innovative facilities being provided
within the confines of West Inn Hotel
a) Yes b) No
0
5
10
15
20
25
30
35
32
18
Frequency

Theme 2: Service taken the most into
consideration while selecting hotel
a) Yes b) No
0
5
10
15
20
25
30
35 32
18
Frequency

Theme 3: Suitable Price charged by West Inn
for services provided by them
a) Yes b) No
0
5
10
15
20
25
30
35
32
18
Frequency

Theme 4: Satisfaction from the services
provided by West Inn Hotel
a) Yes b) No
0
5
10
15
20
25
30
35
32
18
Frequency

Interpret data appropriately to provide evidence
of market potential.
Interpretation 1: It can be interpret that the statistical data above is
efficient for the West Inn hotel to consider more on its social media
techniques.
Central Tendency Data
Mean 25
Median 25
Mode 14
Standard Deviation 9.89
Theme 1:

Continue…
Interpretation 2: In this data the customers are more concerned about
the hygiene and sanitary of the hotel.
Central Tendency Data
Mean 13.34
Median 13
Mode 10
Standard Deviation 3.05
Theme 2:

Continue…
Interpretation 3: The planning of hotel west in is more emphasised on
its price structure and the efficient use of pricing tools in its services
would increases its potential customer share.
Central Tendency Data
Mean 25
Median 25
Mode 0
Standard Deviation 21.22
Theme 3: