This report explores various sources of entrepreneurship, including experience, unexpected events, and Drucker’s 7 sources, to identify innovative business ideas. It focuses on biodegradable packaging as a promising venture, emphasizing its environmental benefits and market potential. The report utilizes market gap analysis, applying McKinsey’s 7S model to assess the internal alignment required for success. A SWOT analysis identifies strengths, weaknesses, opportunities, and threats associated with biodegradable packaging, while a PESTLE analysis examines the political, economic, social, technological, legal, and environmental factors influencing the business. The study concludes that biodegradable packaging holds significant promise, provided that entrepreneurs address challenges like research costs and competition, and capitalize on opportunities driven by environmental awareness and supportive government policies. Desklib offers a platform for students to access this and many more solved assignments and study tools.