Assessment of Entrepreneurship and New Venture Creation: Daymukonga

This case study examines entrepreneurial opportunities within Daymukonga, an online supermarket in Nigeria, focusing on the potential of introducing an e-commerce store to expand its target audience. It utilizes business and personal assessment frameworks to evaluate the feasibility of this venture, considering factors like market reality, resource availability, and personal capabilities. The analysis covers aspects such as identifying target customers, assessing the economic viability of the model, and evaluating the skills and experience of the personnel involved. Critical analysis of these assessments highlights the importance of goal setting, communication, and continuous evaluation in aligning the venture with both business objectives and personal development goals. The study also touches upon the challenges of adapting to technological advancements and ensuring customer trust in online transactions. Desklib provides access to this case study along with a wealth of resources including past papers and solved assignments to aid students in their academic pursuits.

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Critical reflection on identifying and exploiting right entrepreneurial opportunities: A case
study of Daymukonga, Nigeria
Name of the student:
Name of the university:
Author note:

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Table of contents
Introduction................................................................................................................................3
Company profile.........................................................................................................................3
Mission...................................................................................................................................3
Values.....................................................................................................................................4
Market information................................................................................................................4
Discussion..................................................................................................................................4
Reasons for selection..............................................................................................................4
Business Assessment of opportunity......................................................................................5
Analysis of the assessment.....................................................................................................9
Personal assessment opportunity..........................................................................................10
Analysis of the personal assessment....................................................................................13
Critical analysis of the assessments.....................................................................................14
Exploitation of the identified entrepreneur..........................................................................15
Critical analysis of the framework for identifying and exploiting the entrepreneurial
opportunities.........................................................................................................................17
Correlation between the criterions of assessment framework..............................................19
Conclusion................................................................................................................................20
References................................................................................................................................21
Bibliography.............................................................................................................................24

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Introduction
Entrepreneurship is an opportunity for the marketers in terms of reaching to the
customers. Setting goals improves the focus on the business and helps the marketers in
providing proper shape to the business dynamics. Strategic evaluation of the current business
condition is assistance in terms of measuring the scope and arena for reaching to the
benchmark level of performance (Eftekhari and Bogers 2015). Propositions innovation is an
initiative towards altering the business scenario. Managing the proposed changes is crucial in
terms of stabilizing the foundation. This assignment, through the example of Daymukonga,
attempts to identify and exploit the right entrepreneurial opportunities.
Company profile
Daymukonga has achieved accolades and glory by emerging as one of Africa’s online
retailing supermarket. As a matter of specification, the company deals with products like
food, beverages, home décor items, beauty and personal care, baby care products, home
appliances, book, media supplies and office supplies among others. Practising direct
marketing has enabled the staffs to enhance their relation with the customers. Selling quality
and branded products at affordable prices is the key towards adding happiness into the lives
of the customers.
Vision
The vision of the company is to emerge as Africa’s biggest online retailing
supermarket.
Mission
The mission of the company is to upgrade the standards of living for the common
public in the threshold of Africa.

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Values
The employees of the online retail company strive towards the preservation of the
core values, which are honesty, integrity and transparency. Consciousness towards this
direction reflects adherence to the standards and protocols of Ethical Code of Conduct.
Market information
Rise in the demand for electronic transactions has enhanced the parameter of foreign
exchange. As a matter of specification, smart means of conducting the online transactions has
widened the network chain for the company. Typical evidence of the lies in the investments
made by the officials of Europe and Asia in the infrastructural projects of the company.
Advent of smartphones have added stability into the customer base.
Discussion
This segment attempts to discuss about the entrepreneurial opportunity of introducing
an e-commerce store for identifying target audience. This would be done through the means
of incorporating a web hosting service, which would add automation into the operations. At
the initial stage, contracts would be developed with the vendors and the suppliers, who would
ship the products to the customers. This would reduce the burden of inventories within the
business. For assessment, frameworks of business assessment opportunity and self-
assessment opportunity gains a significant position. Self-assessment can be related to the
efforts of the employees in presentation of the stores for luring more and more customers
(Cooper 2017). Without the supervision and guidance of CEOs, the plan of e-commerce store
cannot be implemented.
Reasons for selection
Conducting target marketing is important in terms of improving the focus on the
business activities. Customers are the one, who adds value to the products and services.

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Identifying the target audience in specific parameters would act as a gradual development
towards enhancing the efficiency within the business activities. Moreover, e-commerce stores
would help the company in reaching to large number of customers. Web hosting services
would prove beneficial for the company in terms of popularizing the brand among the
stakeholders and shareholders.
In the present age of competition, companies and organizations need efficient and
effective technologies for automatizing the business activities. However, lack of technical
skills compels the personnel to encounter delays in completing the business activities. This is
a drawback as well as challenge in terms of enhancing the efficiency within the business
activities. Moreover, the customers belonging to the old age are not properly acquainted with
the latest technologies. Therefore, for them, e-commerce stores would be appropriate in terms
of getting the required products. One of an important aspect here is trust within the process of
receiving the orders. Most of the customers are concerned about the quality of the products.
Buying the items online would help to avoid standing in long queues.
Business Assessment of opportunity
Criteria Questions for analysis Yes No Additional
information
Unknowable

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
Reality in the
opportunities
 Is this a real
business?
 Are customers
identifiable
and reachable?
 Does the
product/service
deliver
superior
value?
 Is the economic
model viable?
 Is the model
suitable for the
open up
options?





Durability of
the
opportunities
 Will we be able
to develop
distinct
competencies?
 Can we build
entry barriers?
 Can we
identify and
surmount




Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
regulatory
compliance
issues?
 Can we
identify and
address
stakeholder
goals and
needs?
 Can we
anticipate and
respond to
changes?


Marshalling
the resources
 Can we
determine and
choose between
resource
levels?
 Are the
economics
sufficient for
the
establishment
of a proper
budget?
o
o

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
 Are we capable
of defining
safety
margins?
 Do we hold the
capabilities of
identifying and
accessing
critical
resources?
o
o
Managing
the ventures
 Will we be able
to monitor and
manage critical
resources?
 Do we hold
flexible
resources for
measuring the
performances
and results?
 Will we be able
to organize
mid course
corrections if




Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
needed?
Harvesting
the ventures
 Are there
realistic
mechanisms
for harvesting?
 Are the
harvesting
measures
properly
structured for
aiding
harvesting
process?
 Do we
understand the
conditions,
which trigger
or preclude
harvesting?




Table 1: Business assessment opportunity
(Source: Created by the author)
Analysis of the assessment
High involvement of the service users reflects the reality of the entrepreneurial
opportunity. Social media marketing is an effective channel for reaching to large number of

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
customers. Keeping track of the responses of the customers would help the personnel to
identify the prospective customers. High demands for the products would add superior value
into the business dynamics. Utilization of the value chain analysis would reflect viability of
the economic model. Value chain analysis would enhance the awareness of the personnel of
Daymukonga regading the options, which they can avail for upgrading the infrastructure.
Taking post training tests would enhance the awareness of the personnel regarding the
competencies needed for enhancing the efficiency in the business opportunity. Conducting
market research would enhances the awareness of the company personnel regarding the entry
barriers, which exists in the process of the expansion.
Becker et al. (2015) states that lot of research is needed in terms of fulfilling the
specific needs, demands and requirements of the stakeholders. The personnel are hesitant
towards anticipating and responding to the required changes. Herein lays the appropriateness
of Kotter’s eight step change management process. This model enhances the understanding of
the personnel towards the proposed changes and their proper management. Training helps the
employees of Daymukonga to enrich their knowledge, skills, competencies and abilities
about effective utilization of the resources. However, insufficient of the economic stability is
a challenge in terms of luring the foreign investors. Lack of awareness regarding the safety
margins indicates incapability towards the exercise of risk assessment.
Personal assessment opportunity
Criteria Questions for
analysis
Yes No Additional
information
Unknowable
My goals  Is the venture
consistent
with my
Yes

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
goals and
values?
 Is it my best
option at the
time for
moving
towards the
goals?
 Will it
minimally
close or open
doors for new
ventures?
 Am I
comfortable
with the
risk/reward
profile of the
business?
No
Additional
information
is required
Unknown
My
capabilities
 Is this role
profitable for
me in this
venture?
 Are the skills
and
Yes
No

Running head: ENTREPRENEURSHIP AND NEW VENTURE CREATION
ASSESSMENT
experience
appropriate
for adding
value to my
personal
development?
My lifestyle  Will this
venture allow
me to control
my life
according to
the
requirements
?
 Am I capable
of
understandin
g the impact
of this
venture on
my lifestyle?
 Do I possess
the flexibility
for assessing
the impact of
No
Additional
research
needed
Unknown