Analyzing Entrepreneurial Opportunities for D1 Surveillance - Report

This report provides a comprehensive analysis of entrepreneurial opportunities, focusing on the case of D1 Surveillance and its potential venture in manufacturing CCTV scanners. It explores various sources of entrepreneurial ideas and innovations, including market gap analysis, STEEP analysis, and Peter F. Drucker's elements for generating unique business ideas. The report examines the rationale behind the entrepreneurial idea, emphasizing the market gap and the importance of data collection through primary and secondary sources. It presents data interpretation, SWOT analysis, and an evaluation of competitiveness within the market environment. The analysis also includes Porter's five forces model to assess potential growth. The conclusion highlights the significance of identifying entrepreneurial opportunities for business growth and success, referencing relevant literature to support the findings.

Identifying Entrepreneurial
Opportunities

Table of Content
• Introduction
• Different sources of Entrepreneurial ideas and innovations
• Rationale and the market gap for a specific entrepreneurial idea
• Gap analysis and its Evaluation
• Interpretation of Data
• SWOT analysis to assess the entrepreneurial idea
• Evaluation of competitiveness as well as market environmental
• Conclusion
• References

Introduction
Entrepreneur is the act of creating a business which is helpful for the
corporation to earn higher profits. To become an entrepreneur it requires a
unique business idea which is needed to implement to get success. Millions
of people are getting employment opportunities through it. To better
understand this concept D1 surveillance has chosen which is a new venture
& wants to manufacture CCTV scanner.

Different sources of Entrepreneurial ideas
and innovations
There are various sources through which an individual can inspired to
think innovation in order to generate new idea which help to start new
venture. Hobbies, past experience, observation and market gap analysis
can be motivate a person to think innovative & start new business.

Different sources of Entrepreneurial ideas
and innovations
There are various sources through which an individual can inspired to
think innovation in order to generate new idea which help to start new
venture. Hobbies, past experience, observation and market gap analysis
can be motivate a person to think innovative & start new business.

Cont...
There are some other aspects given below as -
Business idea
Potential consumers
Target audience

Cont...
With a specific end goal to figure out where are opening is accessible, an examination of
STEEP analysis can be possible.
Social factor
Technological factor
Economic factor
Environmental factor
Political factor

Cont...
Peter F. Drucker has introduce some elements which are helpful to set out unique ideas in
order to get success in business and D1 Surveillance can use this to capture more
market share within specific time period.
 Incongruity
 Process need
 Industry & market structure need

Cont...
 Demographics
 Change in perception
 New knowledge
 Unexpected

Rationale and the market gap for a
specific entrepreneurial idea
Market gap is a situation where corporations does not able to fulfil the
demands of consumers with its products or services. This situation has
also occurs when demand and supply are matching. It is a good
opportunity an organisation to analyse the market gap and produce
those products to the consumers which can fill this gap as a result
company can generate higher by capturing high market share.

Cont...
There are various points which are mention below and helpful to achieve business idea and
such as:
Business idea
Creative idea
Behaviour segmentation
Geographic segmentation
Present situation
Future possibilities

Gap analysis and its Evaluation
Data collection is a technique in which data are collected through different
sources and it is helpful to conduct research and it involves:
 Primary data
 Secondary data

Cont...
1. Are you aware the concept of CCTV scanner? Frequency
i) Yes 15
ii) No 5
2. Do you think this innovative idea can be helpful for the growth of D1 Surveillance?
i) Yes 13
ii) No 2
iii) May be 3
iv) Not sure 2
3. According to you this product is beneficial for the security and safety purpose?
i) Agree 10
ii) Strongly agree 5
iii) Disagree 5
iv) Strongly disagree 5

Interpretation of Data
Theme 1: Concept of CCTV scanner
i) Yes ii) No
0
2
4
6
8
10
12
14
16 15
5
Row 2

Cont...
Theme 2: Effectiveness of innovation idea for the growth of organisation
i) Yes ii) No iii) May be iv) Not sure
0
2
4
6
8
10
12
14

Cont...
Theme 3: Security and safety purpose
i) Agree ii) Strongly agree iii) Disagree iv) Strongly disagree
0
2
4
6
8
10
12

Cont...
Theme 4: Benefits of new concept
i) Minimisation of cost
ii) Better Management of Expenses
iii) More revenue
0
2
4
6
8
10
12

Cont...
Theme 5: Benefited individual
i) Consumers ii) Employees iii) Suppliers iv) Owners
0
1
2
3
4
5
6
7
8
9
5 5
2
8
Row 147

SWOT analysis to assess the
entrepreneurial idea
SWOT stands for strength, weakness, opportunities and threats. It helps
the organisation to develop new strategies for their business to survive
in the competitive business environment it helps the organisation to
look for it internal and as well as external factors. Organisations uses
this analysis for to see what strength do they have and how can they
convert their weakness in to strength and take the competitive
advantage over their competitors.

Cont...
 Strength
 Weaknesses
 Opportunities
 Threat

Evaluation of competitiveness as
well as market environmental
Competency shows the capability of an organisation to face the
competition in the market. So it is important for the company to
identify its strength and abilities in order to achieve competitive
advantage. For a corporation which wants to start new business, it is
essential for that to analyse the current market environment conditions
in order the get success.

Cont...
With the help of some points risk and potential growth can be analyse:
 Competitive market: It is necessary for the organisation to know the
competitors in the existing market so that D1 Surveillance can make
effective strategies in order to compete in the market.
 Target audience: To target appropriate audience is important to get
success and growth in business. As D1 Surveillance has targeted
household and commercial people.

Cont...
With the help of porter's five force model potentilla growth can be identify which
contribute in future development in order to capture more market share.
Existing competitors
Threat of substitute product
Threat of new entrance
Bargaining power of supplier

Conclusion
As from the above presentation, it has been concluded that to identify
entrepreneur opportunity is beneficial for the growth and success of
business. There are various sources through which an individual can get
innovative idea. Primary and secondary data analysis is useful to
identify current market trend.

References
 Anderson, B. S., and et.al., 2015. Reconceptualizing
entrepreneurial orientation. Strategic management journal. 36(10).
pp.1579-1596.
 Beynon, M. J., Jones, P. and Pickernell, D., 2016. Country-based
comparison analysis using fsQCA investigating entrepreneurial
attitudes and activity. Journal of Business Research. 69(4).
pp.1271-1276.

Thank You