Report: Analyzing Entrepreneurial Opportunities and Market Environment

This report focuses on identifying entrepreneurial opportunities, specifically within the context of introducing new chocolate drinks. It begins with an introduction to the topic, emphasizing the importance of market research and understanding consumer needs. The core of the report utilizes a SWOT (Strengths, Weaknesses, Opportunities, Threats) framework to evaluate the int...Read More

Identifying Entrepreneurial
Opportunities

Table of Content
•Introduction
•Swot Framework to aggregate evidence
•Competitive and market environments
•Conclusion
•References

INTRODUCTION
Entrepreneurial require find out the growth option by listening possible
consumers and past leaders in their region. For this, they have to conducted
research that assists person to find out market trends and customer's need.
They need to determine existing marketplace trends, rivalry, policies of the
country in reference to their business and the components which can
influence the business of the firm.

SWOT framework to aggregate evidence
The company are aiming to introduce to new chocolates drinks in the target
market place. The swot is discussed as follows:
Strength: Under this company has good team who has new innovation
ideas to make its product and services available in the market place. The
company has effective manager and leader who focus on increase the
production of the company which will further enhance the productivity
of the company in the long run.

Contd...
Weakness: Under this situation, the company tries to reduce its weakness so that
they can achieve the mission and vision of the company in the long run.
Opportunities: This is very important part of the company, as company are looking
for various type of opportunities to enhance the productivity for the organisation
in the market place. The company has opportunities to launch new chocolate
drinks for the target segment of the company.

Contd...
Threats- Here company tries to find out the
any threads which are present in the
work environment which matching with
the weakness of the company so reduce
the impact of such threads in the
company and maintain the productivity
of the company in the market place

Competitive and market environments
Porter's five force:
This framework is useful in determining the five competitive forces which
influences the performance of company and its effectiveness. It is useful in
identifying the competition level which exist within the market. For this,
entrepreneurs analyse an idea which is concerned with the profitability that is
going to earn with the help of implementation of new idea of developing
chocolate drinks

Contd...
Threat of new entrants: With the arrival of new entrants, the productivity of
company gets affected as when new entrants take place in the market. By
this, the competition level gets increases as it somehow negatively
influences the performance of an organisation. In this business, chocolate
drinks is taken for this, entrepreneur need small amount of investment
which can develop the chances of threat from new entrants.

Continue...
Threat of substitutes: Substitute products are those that are easily consumed by
customers at other place as it becomes the big threat for businesses. For this,
organisations who have low substitutes can grasp more opportunities that charge
high amount form customers and also enhances the level of profit.
Bargaining power of suppliers: In this context, company low down its power of
suppliers as it becomes easy for them to switch form other suppliers. For this,
there are number of suppliers are present who can provide raw materials to
company at low prices

Continue...
Bargaining power of buyers: This power relies
on the factor that how important a customer is
for company. For this, entity with large
customer base tends to have less power in the
hands of customers that prevails in the market.
Competitive rivalry: It is generally the number of
competitors that prevails in market and also
influences the performance of company.

Continue...
Gap analysis
It is an activity which is utilised to find out
consumer's demand and identify the way to
develop the procedure in business firm. It is the
method of analysing differences in execution
among business information systems or
software implementation that analyse that ho
bushiness needs can be met and if not then
what step can be to met them effectively.

CONCLUSION
According to the above discussion, the company comes up with the new product
and service in the market, by evaluating the different source of enterprising
ideas and innovation and company tie to use different tools and technique to
examine and fill the gap in the market potentials so that company are able to
meets its goals by providing and fulfilling the needs and wants of the
customer from time to time.

REFERENCE
• Aghajani Afrouzi, A. and Alizadeh, M., 2017. Identify Entrepreneurial Opportunities
in Rural Tourism. Journal of Entreneurship and Agriculture. 4(7). pp.57-65.
• Andersson, G., 2018. Identifying Entrepreneurial Opportunities for Black Ownership
in Manufacturing (Doctoral dissertation, University of Cape Town).
• Evansluong, Q. and Ramírez Pasillas, M., 2019. The role of family social capital in
immigrants’ entrepreneurial opportunity creation processes. International Journal of
Entrepreneurship and Small Business, 36(1/2).

THANK YOU