Report: Identifying and Evaluating Entrepreneurial Opportunities in UK

This report analyzes the entrepreneurial opportunity of introducing organic coffee with brown sugar in the United Kingdom. It begins by exploring various sources of entrepreneurial ideas and innovation, including Ducker's sources of systematic innovation. The report then explains the rationale for the business idea, focusing on the growing health consciousness of consumers and the potential market gap for organic coffee. It utilizes tools such as Porter's Five Forces, STP (Segmentation, Targeting, and Positioning), and gap analysis to evaluate the market and competitive environment. The report also employs SWOT analysis to assess the strengths, weaknesses, opportunities, and threats associated with the venture. Primary and secondary research methods are discussed to gather data and validate the business idea. The report concludes with an evaluation of the market, potential challenges, and the overall viability of the organic coffee business in the UK market, offering a comprehensive overview of the entrepreneurial process.

Identifying
Entrepreneurial
opportunities

Table of Contents
INTRODUCTION...........................................................................................................................3
Evaluating different sources of entrepreneurial ideas and innovation........................................3
Introduction to business and its potential customer's..................................................................4
Gap analysis in evaluation of entrepreneurial idea and interpretation........................................5
SWOT analysis to assess entrepreneurial idea..........................................................................11
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
An entrepreneur is an individual who founds and run a small business assuming all risk
and rewards towards venture. It plays a key role in an economy, commonly seen as an investor, a
a source of new ideas, goods, services and business or procedures (Audretsch, 2012) In other
words, an entrepreneur is referred as a person who is willing and capable of taking risk to start a
new venture or brining innovation within the existing products. In this report, an entrepreneur is
coming up with new idea that is organic coffee with brown sugar in new marketplace of United
Kingdom. This report is going to determine and evaluate different sources of entrepreneurial
ideas and innovation as well as analysing market gap by using relevant tools and techniques.
Moreover, applying SWOT framework in order to collect evidence and provide support to an
entrepreneurial ideas and evaluating competitive or market environment in order to know the
assess potential viabilities in competitive marketplace.
P1. Evaluating different sources of entrepreneurial ideas and innovation
In today's era many entrepreneur are coming up with different ideas and innovation as to
create a unique start up in a competitive marketplace. An entrepreneur occupies a unique
position in an economy (Dimov, 2011). They basically have a spark plug in economy in
stimulating all economic activities into new shape and ideas and innovation. Herein, an
entrepreneur have adopted Ducker's sources of systematic innovation in order to evaluate its
ideas and innovation.
Unexpected success and failure: Innovation takes places unexpectedly. A market place
is the number one area to look opportunities. Herein, an entrepreneur need to keenly study
marketplace where an individual wants to launch his product into new marketplace. Moreover,
unexpected situations can be extremely powerful in business world as they inspire leaders and
innovations in order to do welfare for an economy.
Incongruities: Many entrepreneur fails into the trap of developing their product and
services without analysing its target customer that they really want (Fuentes and et. al., 2010)
Eventually, here an entrepreneur need to analysis its target customer’s as well as their need and
wants in order to become successful into competitive marketplace. Moreover, an individual need
to analysis the pitfalls and assume greater source of inspirations for innovation. Thus, customers
reviews, feedback and complaints are often best way to determine incongrunity.

Process needs: In process need of innovation an individual need to focus on more task
rather than situation focused (Grégoire and Shepherd, 2012). Herein, an entrepreneur need to
examine the sources of innovation by clearly identifying weak spots and implement strategies to
improve upon it. With this an entrepreneur can create more capabilities in order to create more
effective innovation solutions.
Industry and market structure change: An entrepreneur need to analysis the industry
and market structure. Herein, an individual need to keep eye open on changes that may affect its
idea or innovation as well as take these changes as threats but more like opportunities.
Demographic: An entrepreneur ideas and innovation is mostly affected by demographic
or buying pattern of customers in market. Herein, an individual need to analysis the buying
pattern of its target customers so that an entrepreneur can meet up demand of people in the new
marketplace. Furthermore, an enterprise is focusing on target group who are more health
conscious. Moreover, they are targeting their target group based on income, age group as well as
buying pattern of an individual.
Change in perception: An entrepreneur need to come up with such innovations and
ideas into competitive marketplace so that its creates a unique perception in minds of people.
Herein, an individual need to create such a unique identify in marketplace of United Kingdom so
that they can attain sustainability in new marketplace. Furthermore, if an entrepreneur is evolved
in continuous change in perception that it will need to increase its cost of production so that their
uniqueness remain constant in competitive marketplace.
New knowledge: Herein, an entrepreneur need to acquire new knowledge regarding
marketplace and innovation in order to attain artificial intelligence in new and advancements of
technologies. Moreover, new knowledge can help an individual to develop new innovations
products to attain competition into marketplace.
The above mention are the sources to gain new inspiration in leading business growth
and moreover have innovative ideas to enhance productivity in competitive marketplace.
Moreover, with the adoption of ducker's sources of innovation an enterprise can know what are
they impact of developing new venture in to competitive marketplace.
P2. Explain rationale and market gap with the use of tools and techniques
In today's context an entrepreneur is coming up with an innovation that is organic coffee
with brown sugar into new marketplace of United Kingdom. The rationale of implementing this

idea demand for coffee is never outdated because of its taste. The idea to bring organic coffee
with brown sugar is that people are becoming health conscious also, number of diabetic patients
and individuals with high cholesterol level are increasing with the consumption of adulterated
sugar mixed coffee. With this new idea, entrepreneur can easily implement changes in their
products sales by creating positive awareness in target market.
Market gap with this idea can be arise when potential number of customers of organic
coffee are less. Apart from this, UK is famous for the combination of modernisation which
attracts huge number of tourists and provide them desired food as well as beverages as per their
requirement. Most of the tourist and customers are desired for roasted coffee therefore they show
their lack of interest towards organic services. Thus, it can be a negative approach for firm that
can create market gap for their new idea. By looking at the statistics, the idea to bring organic
coffee will be successful. Initial investment for this idea is not that huge. The idea is to focus
primarily on the contents of coffee so as to fulfil the demands of the customers who avoid having
sugary beverages. Furthermore, coffee is also famous within people working in the organization.
The rate of consumption of coffee in UK is more as compared to any other cities. Therefore, an
organic coffee with brown sugar can be a part of an individual's lifestyle without affecting the
health.
Specific customer type and target customers: Entrepreneur is going to focus more on
adults who like to have coffee on daily basis. The price will be nominal so people of every
category can afford it. However, to have more information, the enterprise will choose random
people to taste the coffee and provide their valuable suggestions. In nut shell, individuals falling
within the age group of 18-45 will the target customers.
Tools and techniques for evaluating rational and market gap:
Porter's five forces model: This is a kind of model that consists five factors that helps in analysis
of competitive environment. Below description of these models is mentioned that is as follows:
 Competition inside industry- It is related with number of competitors available in the
competitive environment which can impact to companies performance. If there are large
number of competitors then, this can be difficult to companies to increase the prices
while if there are less number of competitors then other entities can earn higher revenue.
In the aspect of above entrepreneur's new idea of organic coffee, there are more number

of sellers but less number of companies who sell organic coffee. So competition is low in
terms of seller of organic coffee.
 New entrants into an industry- It is a kind of model that defines about new entrants
impact on existing companies. This depends on nature of market that, is there barrier of
new entrants available or not. In aspect of UK coffee market there is no entry barrier and
any new entrants can enter. For entrepreneur, this is a risk if any new company launch
organic coffee.
 Power of suppliers- The suppliers are those who provides raw material to companies.
Their power depends on their numbers, if there are large number of suppliers then their
power will be low. This is so because companies will have more alternatives. In aspect of
above entrepreneur, they can be effected by suppliers' power because of less number of
suppliers who offer material to make organic coffee.
 Power of customers- The customers power depends on number of companies. If there are
wide range of sellers then they will have option to buy and their power will be higher. In
the case of above coffee market of UK, there are large number of sellers who sell coffee
but there are less number of seller who offer organic coffee.
 Threats of substitute products- The substitute products are those which are similar in
features but prices are different. In case of UK coffee market, there are various kind of
substitutes available to customers. Though in aspect of entrepreneur's new idea of organic
coffee, there are less number of substitute products.
STP (Segmentation, targeting and positioning):
 Segmentation- It can be defined as breaking of markets and customers into small parts. In
the case of new idea of organic coffee of entrepreneur, first they should identify their
customers who can prefer their organic coffee. Their customers can be of young age
group person.
 Targeting- After segmentation, the next step is to target customers so that they initiate to
buy. For above entrepreneurs, they should try to focus on young age group customers and
try to make policies accordingly.

 Positioning- It is related with making a strong brand image in market. In the case of
above entrepreneurs, they can make an effective brand image in front of customer as their
idea is unique and health conscious.
In UK, there are several organisations that introduce their maximum services in different
coffee but there are lack of services for organic coffee. Thus there might be a possibility for
organic coffee idea to get desired success in target marketplace.
P3 & P4. Gap analysis in evaluation of entrepreneurial idea and interpretation
Gap analysis is generally conducted by an entrepreneur in introducing a new business
ideas or concept into new marketplace (Siegel and Renko, 2012). This process help in
ascertaining weather the current performance of business is suitable to meet up the desired future
performance. In other words, it basically involves comparison between the present performance
level of business standards. Moreover, it will help an entrepreneur to refine and define new ideas
and innovation to meet up the standard performance level. It will also help in critical evaluation
skills that are need to grow as well as enhance their performance and earn profit into competitive
marketplace. Apart from this an entrepreneur is analysing their market gab in an effective
manner as they are coming up with organic coffee. As in today's scenario their more of chemical
products along with more preservatives. Thus, in this way an entrepreneur can gab out
opportunities in the competitive marketplace as well as able to sustain in the marketplace of
same product line.
Primary research: Primary research is refer to those research which is conducted by
researcher for the first time (.Suddaby, Bruton and Si, 2015) Herein, an entrepreneur had
conducted a survey that involves questionnaires, surveys and interviews within individual and
small group of people. Moreover, an individual used questionnaire methods to identify and
analysis the gab of marketplace so that they can fulfil gab and acquire a unique position in
marketplace.
Secondary research: Secondary research basically involves collection of existing
synthesis, books, journals and sources of internet. It is the data which is collected by someone
else other than the researcher himself. Moreover, an enterpriser of organic coffee can use
secondary research because this research is cost effective and less time consuming process.
Q.1: Are you aware about organic coffee with brown sugar?

 Yes
 No
Q.2: Does Organic coffee provide unique perception as per the demand of customer's need?
 Agree
 disagree
Q.3: Does the employees and staff member required any type of training and development
sessions?
 Yes
 No
Q.4: Will organic coffee will able to attain competitive advantage in competitive marketplace?
 Agree
 Disagree
Q.5: Will organic coffee will able to attain attention of their customer's with their unique
product and service quality?
 Yes
 No
Theme 1: Awareness about organic coffee with brown sugar
Are you aware about organic coffee with
brown sugar?
Frequency
Yes 28
No 18

Central Tendency Data
Mean 23
Median 23
Mode 0
Standard Deviation 7.07
Interpretation: From the above interpretation it has been concluded that people are
aware about organic coffee with brown sugar. Moreover, they are also aware about its benefits
that is effective for health.
Theme 2: Unique perception as per the demand of customer's need
Yes No
0
5
10
15
20
25
30
Column B

Does Organic coffee provide unique perception
as per the demand of customer's need?
Frequency
Agree 28
Disagree 12
Central Tendency Data
Mean 20
Median 20
Mode 0
Standard Deviation 11.31
Agree Disagree
0
5
10
15
20
25
30
Column C

Interpretation: herein, with the above stated graph it has been determined that an
entrepreneur will be successful in this product. As it will be able to create a unique perception as
per the need and demand of customers.
Theme 3: Employees and staff member required training and development sessions
Does the employees and staff member
required any type of training and development
sessions?
Frequency
Yes 25
No 15
Central Tendency Data
Mean 20
Median 20
Mode 0
Yes No
0
5
10
15
20
25
Column C

Standard Deviation 7.07
Interpretation: From the above stated data it has been identified that an entrepreneur
need to provide more training and development session its employee and staff member. So that
they are able to serve in an effective manner.
Theme 4: Organic coffee will able to attain competitive advantage
Will organic coffee will able to attain
competitive advantage in competitive
marketplace?
Frequency
Agree 30
Disagree 10
Central Tendency Data
Mean 20
Agree Disagree
0
5
10
15
20
25
30
Column C