Entrepreneurial Opportunities Analysis: Zingerwoods Business Report

This report provides a comprehensive analysis of Zingerwoods, a company focusing on wood-based products like toothbrushes and water bottles to reduce plastic use. The report explores entrepreneurial opportunities, strategic drivers such as the Blue Ocean Strategy, and market analysis using Porter's Five Forces. It evaluates the company's potential in the UK market, particularly London, and assesses its impact on the retail industry. The analysis includes the bargaining power of buyers and suppliers, competitive rivalry, and threats of new entrants and substitutes. Furthermore, it employs a Value Proposition Canvas to evaluate the company's customer value and market positioning. The report concludes with an assessment of Zingerwoods' feasibility and potential for success in the competitive landscape.

Global
Entrepreneurship

Table of Contents
Summary..........................................................................................................................................3
INTRODUCTION...........................................................................................................................3
STRATEGIC DRIVERS.................................................................................................................4
ANALYSIS......................................................................................................................................5
EVALUATIONS.............................................................................................................................6
IMPACT..........................................................................................................................................8
Risk analysis....................................................................................................................................9
COST.............................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

Summary
The present report talks the concept of entrepreneurial opportunities, where a new
business entity named as Zingerwoods introduce products which are made up of woods. The
products offered by them includes toothbrushes, water bottle and many more. Before entering
into the marketplace, it has been said that management team must conduct a feasibility teat so
that market analysis can be conducted. It has been said that, company is using a Ocean strategy
with the help of which, managers will be able to resolve competition level available at the
marketplace by offering products free of cost products in their initial stage. Along with this,
Porter's five force analysis model is used by the management team in order to identify the level
of competition available at the marketplace before launching new products.
INTRODUCTION
It has been said that the main concept of “entrepreneurial opportunity” is define as the
central for the theory and study of entrepreneurship. It refers to the situation where goods and
services sold by them at higher price than the overall cost of the production. In general words,
entrepreneurial opportunities refers to the situation where individuals take effective actions in
order to make more profit at the marketplace (Acs and et. al., 2018). It is the report which is
based on a company named as Zingerwoods so that understanding on the topic of entrepreneurial
opportunities will be increased. It has been said that the present organisation decides to launch a
new products which are water bottle, tooth brushes and many other daily consuming products at
the marketplace of UK, London. The main reason behind innovating new products at the
marketplace which are made up of wood is that plastic creates pollution and can harm the whole
environment. Apart from this, usage of plastic might affect the health of individual people.
Before launching these products, management team of the company need to examine the
feasibility of the products at the marketplace (Ács, Szerb and Autio, 2016). Furthermore,
company offer these products to the customers through their official websites where they can
take orders from their clients and provide them high qulaity products in an effective manner.
This report includes various sections where an analysis on strategic drivers are going to be
discussed in a detail manner. For this, Porter's five force analysis is going to be conducted by
them. In addition to this, an analysis on the impact of the products offered by them are discussed
in an effective manner.

STRATEGIC DRIVERS
Strategic drivers refers to the forces that basically influences companies to provide shape
to their specific organizational strategy. These strategies are shaped up effectively in terms of
both internal as well as external forces. With reference to the current provided scenario, business
idea owner of Zingerwoods emphasizes on analyzing developing their knowledge on Key
strategic drivers that will support them in shaping up their idea of developing and providing
wood oriented products that will be further sold to customers (Acs, Szerb and Autio, 2017).
These wood products will basically be introduced for the society in order to minimize or replace
the use of plastic in such day to day usable zone such as toothbrush, bottles etc. In order to
analyze strategic driver for the present stated concept of Zingerwoods. In this regard, business
owner have planned to go for blue ocean strategy for leading the marketplace and grabbing
attention of maximum number of customers zone within UK market especially London.
Explanation of Blue Ocean Strategy is given below in effective manner:
Blue Ocean Strategy: It is seen as the effective strategy which emphasizes on pursuing
differentiation and low cost strategy at the time of introducing new product in the market place.
This strategy is commonly used by business associations in creating their demand at market
place by reducing demand of existing competitors at the certain basis. The specific strategy
mainly pushes other rival companies belonging to the same industry to cross their boundaries and
provide unique products to its customers in effective manner (Ashourizadeh and Schøtt, 2016).
With the reference to the current provided business scenario of Zingerwoods, it can be
said that Blue Ocean Strategy is best feasible for them because their concept is completely new
and will surely support them in creating demand of their respective product within the UK
market place. As per this strategy, it will be required by its respective manager of the company to
launch their products for the completely free at London market in order to create their own
demand ion the same marketplace. Here, they will be required to provide vouchers at local retail
stores so that local customers can easily develop their knowledge about the same and grab their
coupon codes by which they can easily get free products (Berger and Kuckertz, 2016). Code
mentioned on these vouchers could be further used by the customer on website can easily order
to same product for completely free. Along with this, it can be further said that usage of this
strategy will ultimately place negative impact over the existing companies offering same
consumable products belonging to plastic range. Providing completely free products to customer

will help the respective company in increasing number of its existing customers at marketplace.
It will also result in converting existing competition at marketplace irrelevant. This strategy wills
support Zingerwoods in enhancing its customers base in rightful manner which will lead to the
profitability growth within the targeted marketplace.
Driver factors developed with Blue Ocean Strategy are described as below:
Quick customer attention: It is the first factor that provides support to Zingerwoods as
with this effective strategy they will easily be able to grab attention of customers in quicker
manner (Bosma and et. al., 2016). Here, main factor that has provided customer attention is free
products coupon which were easily accessible to customers. This have directly influenced
behavior of customers towards the company that will provide them long term benefits.
Easier social acceptance: Along with this, this business concept has uniqueness in its
idea that has ultimately supported in grabbing customers influence towards them. It can be said
that usage of plastic in consumable items non healthy for users. This might also create some
health issue towards them in the near future. As a result, inclusion of wood based products
directly results in influencing interest of customer towards them as it is not having any sort
negative health impact over their health. This ultimately influence interest of customers towards
them as they are socially accepting it in easier manner which ultimately enhance their
sustainability in the market for longer period of time (Devece, Peris-Ortiz and Rueda-Armengot,
2016).
ANALYSIS
In order to analyze market situation of Zingerwoods in UK market, it is essential for them
to develop their understanding on the competitiveness within the same industry so that they can
easily check that whether the idea of introducing this company is good for them or not. In this
regard, porter's five force analysis has been used by the owner of Zingerwoods for developing
their knowledge on competition in deeper manner:
Bargaining power of buyer (Low to moderate): Influence of buyers force is Low to
moderate for Zingerwoods in retail industry is high. This is because customers have variety of
options available at marketplace (Ermakova and et. al., 2016). Thus, it is up to them that from
which company they should buy the product or not. If these customers find any other company
offering similar kind of products to customers then they can easily get influence towards them.
As a result, it could work as the risky factor for this company. While talking of Zingerwoods, it

can be said that this company is offering quite unique product for free thus influence of
customers is low for them.
Bargaining power of supplier: Bargaining power of supplier for Zingerwoods is high,
because the respective company requires some specific sort of wood for them which are only
being offered by few suppliers. This ultimately creates value of supplier as they can ask for any
price because are the only few one which can provide raw material to the company (Ferreira,
Fernandes and Ratten, 2017).
Competitive rivalry: Competition within retail industry is quite high but for
Zingerwoods it is low because in actuality there are very few companies which are offering
similar kind of products. Thus they can easily influence customers interest by providing free
products.
Threat of new entrants: Influence this force is low for Zingerwoods. This is because,
establishing business with this concept requires huge cost which is ultimately not possible for all
businesses. This states that Zingerwoods will not face any sort of issue from new entrants as
there will be on few businesses who could enter into this market with the similar concept and
planning. If in case any new entrant will enter then till that point of time Zingerwoods will
succeed in such a manner that none of business could give them competition (Hoogendoorn,
2016).
Threat of substitutes: number of competitors for this company are very low this
ultimately states that threat of substitute is also low. This simply states that the Zingerwoods will
not face any problem related to substitute.
EVALUATIONS
On the basis of above described frameworks and strategies it can be said that
business concept of Zingerwoods seems to look feasible within London. This has been analyzed
with the usage of business ocean strategy and porter's five force model. Usage of business ocean
strategy is helpful for the company in developing their own demand among customers effectively
by resolving existing competitors in quicker manner (Acs and et. al., 2018). Adoption of this
strategy will ultimately provide strong customer base to the respective company in effective
manner. Along with this, Porter's five force analysis has revealed that competition within the
retail industry is quite high but for the Zingerwoods it is not strong because, they are offering
complete wood based product that does not have any kind of side effective or health impact over

the customers. This directly creates demand for the company at marketplace. In order to evaluate
this in more deeper manner, suitableness owner of Zingerwoods will conduct Value proposition
framework for deeply evaluating whole scenario and influence over the companies growth (Ács,
Szerb and Autio, 2016).
Value proposition: It is said that customer value proposition canvas define as one of the
most effective as well as efficient business tool used by large number of business entities. With
the help of value proposition, company will be able to ensure that all the goods and services
which is offered by the business entity are position in an effective manner and satisfy the needs
and wants of customers (Monitor, 2017). With the help of this model, startup ventures or new
innovative products and services can highly attract large number of customers. Zingerwoods is
an organization which provide products made up of woods which includes toothbrushes, water
bottle and many more. The entrepreneur of Zingerwoods has proposed this model which assist
them in order to maintain positive and strong relationship at the competitive marketplace.
Figure 1: Value Proposition Canvas
(Source: Value Proposition Canvas, 2019)

Components Description
Product
Gain creator
Pain Relievers
Product &
Services
 Attractive features of the product.
 Online ordering benefits.
 High quality wood which will sustain for a long period of time.
 Company offer goods free of cost for few months.
 Various health related benefits to the customers
 Quick delivery which increases the level of customer
satisfaction.
Value:
 Provide options for personalized products and service.
 High quality material.
Location:
 Products are generally offered by the management team in the
area of UK and London.
Target Segment:
 Youngsters
 Families
 People who are health conscious
Different Offering from competitor firms:
 Customers can order products through the official websites of
the company. This will help in attracting large number of
customers towards the organization.
Customer
Gains
Pains
Customer Jobs
 Availability of ample number of options
 High quality of material is used by the management team.
 Pre ordering through online websites.
 Unable to meet the requirements of customers.
 Free of cost products and services.

 Quick delivery of products.
 Usage of high quality material
IMPACT
With the help of overall analysis, it has been said that there are both positive as well as
negative impact on the society, company as well as environment. By launching the product
which are made up of woods, Zingerwoods will be able to gain various benefits at the
marketplace. The product launch by them is quite innovative and unique which attract large
number of individuals towards the organisation (Peña and et. al., 2016). This will help the
company in order to enhance their profitability as well as brand image at the competitive
marketplace. Therefore, it has been concluded that company will gain positive impact by
launching new product at the marketplace.
On the other hand, if talking about society it will create positive impact as they it is quite
healthy for them. Consumption of products made up of plastic are quite harmful for the whole
society. Therefore, individuals decides to adopt such products as they are innovative and does
not create any kind of harm to the health of individual (Peroni, Riillo and Sarracino, 2016). At
last, in context of environment, producing goods which are made up of wood can negatively
harm the overall environment. Manufacturing of products which are developed by wood requires
to cut trees which might negatively affect the whole surroundings. This might affect the overall
brand image as well as reputation of the company in a negative manner. Therefore, it will reduce
the whole profitability of the company at the competitive marketplace.
Risk analysis
Risk analysis refers to a procedure where likelihood of any kind of adverse event is being
assessed within government, corporate as well as environmental sector. It is very essential for the
management team of Zingerwoods in order to identify the risk which is associated with the
innovation done by them. It has been said that reliability, feasibility and risk analysis is
developed on a foundation of various analyses (Ratten, Ferreira and Fernandes, 2016). With the
help of risk spectrum tool management team of the company will be able to identify the risk
associated with products and services launched by them at the marketplace of UK. There are

various risk identified by the manager of the company while assessing the marketplace. Some of
these risk are going to be discussed as follows:
 One of the biggest risk which is associated with the product launch by Zingerwoods is
that it affect the whole environment as they need to cut down the trees in order to produce
wood products such as water Bottle, brushes and many more. In today's world it has been
analysed that customer become more eco friendly. Therefore, it is one of the major risk
which might affect the whole profitability of the company at the marketplace.
 On the other hand, competition level available at the market area might reduce the overall
reputation and profitability of the company. Therefore, it is considered as another risk
which might affect the whole profit ratio of the organisation (Shukla and et. al., 2016).
Products which are offered by company are brushes, water bottles and many more which
are made up of wood. All these things are quite unique by can easily be copied by other
firms available at the marketplace.
All these risk might affect the whole functionality of the company at the competitive
marketplace which reduces whole profitability in a negative manner. Therefore, it is essential for
the management team of Zingerwoods to consider all the factors and examine risk within given
time frame so that company need to bear minimum loss (Villares-Varela, Ram and Jones, 2017).
COST
In order to determine approximate cost of the overall project, the owner has developed
financial cost sheet in which they have mentioned all expected values which will be required by
them for executing this business idea (Wang and Liu, 2016). Cost for each and every activity
that will be required for carrying out this project is described as below:

Activity Cost (in Pound)
Raw material cost 450
Cost of transformation of raw material into finished gods 250
Labour charges 245
Packaging cost 50
Advertisement cost 80
Competitor analysis cost 50
Other charges 25
Total cost 1150
The above specified table describes each and every activity along with the cost. All of
them are estimated by considering all situations and market scenario. According to them, it can
be said that creation of this table provides them approximate idea which ultimately allow them
in managing all organizational activities accordingly in the near future (Berger and Kuckertz,
2016).
CONCLUSION
With the assistance of above mentioned report, it has been concluded that entrepreneurial
opportunities create various benefits as well as risk for the company at the competitive
marketplace. In addition to this, with the assistance of Porter's five force analysis model,
managers of an organization can identify the level of competition which they face while
launching new product at the marketplace. Furthermore, it has been identified that there are
various risk which is associated with the products which might affect the whole profitability of
the company. Therefore, it is required by the company to considered all these factors in an
effective manner so that positive results will be developed within given time frame. Along with
this, a strategy which is known as Ocean strategy used by the management team in order to
resolve competition arise within the marketplace.

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