Report: Identifying Entrepreneurial Opportunities - Unit 27 Analysis

This report, submitted for Unit 27: Identifying Entrepreneurial Opportunities, begins with an introduction to gap analysis, illustrating its application in evaluating the difference between current and desired business states. It then presents a case study of Virgin Money's new financial services, including instant payment options, emphasizing their importance in attracting customers and enhancing organizational effectiveness. The report details the current and desired positions, outlining an action plan focusing on disruptive services and cost management. It examines the role of innovation, particularly the integration of cloud computing and mobile internet, and sets objectives to address customer needs and recruit talented candidates. The report emphasizes data collection methods, using primary and secondary sources to assess market potential, with a focus on primary data gathered through questionnaires. The conclusion stresses the importance of staying updated with new technologies for business success. The report includes references to relevant academic sources.

Identifying
Entrepreneurial
Opportunities

Cover Content
 Introduction
 Gap analysis, present and future situations
 Interpret data properly to render evidence of market potential
 Conclusion
 References

INTRODUCTION
Gap analysis is illustrated as procedure that is adopted by business
associates to examine the gap among the present and desired
condition of the business of the organization.

New product and services
Virgin money is a financial services company that is going to provide new
financial services that is disruptive services like instant payment by Apple
pay that helps customer to get fast and easy payment in less time duration.
This is new services which will help to attracts the customers and will
help to improve the organizational productivity. The managers has decided
to bring such innovation because people are facing to transfer the money
at same moment which they wants. Therefore, such new services will help
customers to get in instant payment without any problems.

Importance /
characteristics of services
• This services are important for customers as it will help to get the
payment in less time and will increase organizational effectiveness.
• This will attracts more customers and provide them safety to transferring
the money.
• This is simple and easiest method which will help to improve security.

Continue..
Basis Current position Desired position Action plan
Product
and
services
In the global market
the present position
of Bibby Arrow is
that they are offering
distinguish types of
disruptive services
like, instant payment
to its potential
customers.
Organization is
working hard to
provide various other
easy mode of online
payment. By this
customer base can be
raised for the
disruptive services
like , instant payment
which is a positive
mark for the
business.
In order to provide
all this type of
disruptive services
management is
training their
employees as well as
recruiting new and
talented candidate so
that best services can
be offered to the
customers in context
of payment.

Continue..
Cost Management is
providing free
disruptive services for
easy payment mode to
their loyal customers
so that they can be
stimulated to use the
disruptive services
like instant payment
which is offered by
the firm.
Bibby Arrow conduct
sessions and
campaigns for the
disruptive services
like instant payment
in order to aware the
customers for this
easy payment mode
which is totally safe
and secure to use.
Nominal consultancy
fees is charged from
new client who ask
for in-depth-
advantages and
disadvantages instant
payment . By this
deep financial
services is offered to
the customers.

Continue..
Innovation The idea of entering
in to other disruptive
services is effective
for Bibby Arrow in
the intense
competitive world.
The decision of
offering other
disruptive services
like, cloud
computing,
mobile internet,
next-gen storage
solutions, 3D
technology
technology and
so on will assist
the company to
grow and develop
more as compare
to rivalry
prevailing in the
open market place.
By reviewing
the target
customers
opinion Bibby
Arrow
can make
necessary
changes in their
disruptive
services or can
add on other
modern
payment mode

Continue..
Objectives Strategies
To resolve the problems
of targeted customers
related to online
payment mode and to
fulfil their expectation
level.
Recruiting talented
candidate so that in-
depth knowledge in
context of online
payment can be offered
to them.
By coming up with other
disruptive services

Interpret data properly to
render evidence of market
potential
In order to gather relevant information primary and secondary
sources are used. Primary data involves interview, questionnaire
etc. whereas as secondary data involves, books, journals,
magazines and so on. Bibby Arrow has selected primary data
collection method so as to gather respondents opinion on
online payment mode services. Information is assembled from 30
respondents through questionnaire that are stated s under:

Theme1: Looking for
innovative and beneficial
financial scheme or services
20
10
a) I am looking
b) I am not looking

Theme2: Existing financial
services provided by Bibby
Arrow is satisfying or not
15 15 a) It is satisfying
b) It is not satisfying