Report on Identifying Entrepreneurial Opportunities: Market Analysis

This report examines the concept of entrepreneurship, emphasizing the role of entrepreneurs in generating innovative ideas, creating employment, and introducing new products and services. It focuses on Virgin Money's support for budding entrepreneurs and the potential of eco-friendly products to meet market demands. The report includes an analysis of the market gap, discussing the changing needs of users, the impact of technology, and the importance of identifying opportunities. It also explores frameworks like the McKinsey model and discusses the significance of company structure, skills, style, strategy, and systems in achieving business goals. The conclusion highlights the importance of business strategy in gaining a competitive advantage and achieving the vision of a business organization. The report uses references to support the analysis.

Identifying Entrepreneurial Opportunities

Table of content
INTRODUCTION
The rationale & the market gap for particular entrepreneurial idea
CONCLUSION
REFERENCES

Introduction
The entrepreneur is considered as a person who is capable to generate innovative ideas regarding
organisation and bearing risk in order to accomplish profit in future period of time. In addition to
this, the entrepreneur plays an important role that help in generating employment opportunity for
followers. The entrepreneur is important in introducing innovative products and services in
marketing and bring innovative ideas in target market so that company can capable to
accomplishing goals as well as objective in timely. In addition to this, the entrepreneur focuses on
offering fund to organisation by providing different offers prevailed in market. As it aids assistance
in enhancing skill and competence between individual people then it assists company to achieve
success in target market. In this assignment, the Virgin money provides fund to budding
entrepreneurs so that they start their own venture. Therefore, herein, the new entrepreneur focuses
on providing eco-friendly products to customer for satisfying their need. In addition to these, there
is a discussion regarding different entrepreneurial ideas during the period of time. The analysis of
marketing gap along with PESTEL & SWOT analysis is also discussed in this assignment (Abdi
Jamayran, Sehat and Hossein, 2017).

Meaning of digital disruption
Meaning of digital disruption
The rationale & the market gap for particular entrepreneurial idea
 In reference of budding entrepreneurs, they focus on launching innovative product
which is eco-friendly product that helps in attracting large number of user in respect
of them in long run. The main purpose is to protect environment that help in
increasing brand image of company in front of customer at marketplace. In addition
to this, the entrepreneur needed to satisfy the requirement of user by providing them
Eco-friendly products according to their requirement. The budding entrepreneurs
are launching goods and services that is needed by user in target market and also
they focuses on using different scheme that help in achieving competitive edge over
rivalries in the marketplace. Therefore, in order to attract large number of customer,
they focus on providing eco-friendly product and reduce the negative impact on
environment that attracts large number of audience (Whalen and Akaka, 2016).

Continue
 The gap in market signifies the condition in which there are various types of buyer
prevailed in market. Thus, the budding entrepreneur required to introduce innovative
product in market to attract ample of user and achieve objective in timely manner. In
assistance of this, for the analysis of market gap in reference of budding entrepreneur
is going to be mentioned below:
 Technology advancement in difficult atmosphere, the need of user is changing and
the entrepreneur is required to use innovative technology in order to accomplish goal
in timely manner. To using technology, the company is capable to fill gap in market
during the period of time.
 Identifying opportunities the budding entrepreneurs have put their eyes release in
market in order to identify opportunities provided in organisation that help in
accomplishing goal and objective in timely manner.

McKinsey frame work
 It is considered as a model that is adopted by company to handle all task in
more appropriate manner and accomplishing results.
 Structure the company possess sound structure for their management
that help in accomplishing task in timely manner.
 Skills the subordinate of business organisation required to possess
appropriate skills that assist them in bringing innovative ideas.
 Style the manager as well as leader required to possess appropriate skill
that assists them to handle overall team and emphasize on offering
innovative product and services.
 Strategy the company focuses on adopting strategy that aids assistance
in accomplishing task in more appropriate manner.
 System the company is formed by using its system in which overall work is
carried out in order to achieve outcome in future period of time (Xu, 2020).

Conclusion
 On given report, it is assess that business strategy signifies plan which is
formulated by administration team of business organisation in order to
smooth running of company in an effective manner. It assists in achieving
competitive advantage over rivalries at Marketplace. It focuses on those
strategies which are implemented by administration team that help in
accomplishing vision of business organisation. This assignment will provide
discussion regarding influence of external atmosphere by adopting proper
framework and assess internal ability of organisation. Furthermore, they also
provide explanation regarding porter's five Force model that help in achieving
competitive edge at Marketplace. By executing conception theories as well as
model that helps in conducting different work in an appropriate manner.

REFERENCES
 Abdi Jamayran, A., Sehat, A. and Hossein, E., 2017. Reviewing the process and utilizing
entrepreneurial opportunities. karafan scientific semi-annual, 14(41), pp.67-85.
 Al Mamun, A. and Ekpe, I., 2016. Entrepreneurial traits and micro-enterprise
performance: a study among women micro-entrepreneurs in Malaysia. Development in
Practice, 26(2), pp.193-202.
 Capps, J., 2017. Identifying Entrepreneurial Opportunities Outside of Typical Student
Comfort Zones Workshop To Integrate This Activity Into Entrepreneurship Classrooms.
In ICSB World Conference Proceedings (pp. 1-5). International Council for Small
Business (ICSB).
 Clark, K. and Ramachandran, I., 2019. Subsidiary entrepreneurship and entrepreneurial
opportunity: an institutional perspective. Journal of International Management, 25(1),
pp.37-50.
 JURJ, B. and ODAGIU, A., 2018. Entrepreneurial Opportunities for Revaluating
Electrochemical Waste. Case Study: Recovering Precious Metals (Au, Ag) from Used
Mobile Phones. ProEnvironment Promediu, 11(34).

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