ENTR501: Identifying Entrepreneurial Opportunities Report - Middlesex

This report provides a comprehensive analysis of entrepreneurial opportunities, focusing on the launch of Orgachoco, a new business venture offering organic chocolate bars with zero added sugar. The report begins with an introduction to entrepreneurial opportunities and then explores various sources of entrepreneurial ideas and innovation, including Drucker's seven sources of systematic innovation. It then delves into the rationale and market gap for the specific entrepreneurial idea, followed by an analysis using the SWOT framework to assess strengths, weaknesses, opportunities, and threats. The report also examines the competitive and market environments using Porter's five forces. The analysis covers market segmentation, targeting, positioning, and the industry life cycle. The report concludes by summarizing the key findings and implications for the success of Orgachoco. The document is a solved assignment for students, available on Desklib, a platform offering AI-based study tools and resources, including past papers and solved assignments.

Identifying Entrepreneurial
Opportunities

Table of Contents
INTRODUCTION...........................................................................................................................2
Activity 1.........................................................................................................................................3
Determine and evaluate different sources of entrepreneurial ideas and innovation...................3
The rationale and the market gap for a specific entrepreneurial idea.........................................5
Activity 2.........................................................................................................................................7
Covered in PPT...........................................................................................................................7
Activity 3.........................................................................................................................................7
SWOT framework to aggregate evidence to support an objective assessment...........................7
Competitive and market environments in which the idea will be launched to asses potential
viability.......................................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
........................................................................................................................................................10
INTRODUCTION
Entrepreneurial opportunities can be defined as innovative ideas discovered by the
individuals considering the development of different products and services focusing over needs

and requirements of consumers and also based on the market trends as well. For this, they need
to led inquire about that helps individual to discover advertise patterns and client's need. They
have to decide existing commercial center patterns, contention, approaches of the nation in
reference to their business and the segments which can impact the matter of the firm (Aghajani
Afrouzi and Alizadeh, 2017). The hidden motivation behind this report is to comprehend the
centrality of enterprising choices in regard to acquire benefit with the assistance of inventive
contemplations. So as to comprehend enterprising chances, Orgachoco is propelling new and
natural chocolate bars with zero added sugar ar Middlesex and Essex (England), United
Kingdom. This report comprises potential hotspots for another and imaginative business thought,
contender examination, hole examination and market examination with the help of powerful
strategies. Also, it clarifies use of essential and auxiliary data to discovering market possiblility
alongside investigation of innovative thought with respect to market and adversaries.
Activity 1
Determine and evaluate different sources of entrepreneurial ideas and innovation
In evolving world, there are various sources that are dependable and successful with
innovative thoughts notwithstanding creation which urge to set up and start another business
endeavor. Suitable arrangement of an innovative business make commitment in prudent
advancement of the country. Another business create openings for work, infrastructural
advancement and make improvement in the expectation for everyday comforts of people
(Andersson, 2018).
Orgachoco is another creation whose businessman is anticipating dispatch such business
in the city of Middleex and Essex (United Kingdom). The dynamic impression of market in
regards to solid and natural chocolate products urged entrepreneur to set up this sort of business.
The potential customers are populace of particular city of London and alongside encompassing
districts. The focused on clients are adolescents, arrangement understudies, youngsters and so on.
The development territory is high on the grounds that there are less number of pastry specialists
who offer natural wares associated with chocolates or beverages in such region (Andersson,
2018). In reference to get consideration of various individuals, there are a few different ways that
can be acknowledged by the firm like contribution free examples and so on (What are the
sources of innovation, 2019). Various wellsprings of enterprising considerations and creation

which urged businessman to dispatch Orgachoco are Drucker’s seven sources of systematic
innovation. The itemized depiction of them referenced as under:
Drucker’s seven sources of systematic innovation:
In present context, seven different resources that are given by Peter F Drucker are
imaginative and offer choices for inventive considerations that are administrated in reference to
Orgachoco. The clarification of this idea is as underneath:
Incongruity- It is associated with assembling hole among supply of products in reference
to request by shopper. The term is used for creating merchanise notwithstanding item according
to prerequisites. In different structures, the result of Orgachoco are viable and profitable in
satisfying buyer's requirements.
Process requirement- Orgachoco organization should utilize inventive system and
apparatus to make coordination among different business tasks of the organization. In present
context, if it is talked about the existing system followed by company, then it is up to date as
company is specifically offering consumers with new and innovative approaches and products as
well that are linking with taste or appetite (Evansluong and Ramírez Pasillas, 2019).
Industry as well as market structure requirement- In current time, Orgachoco’s
business division system additionally give ascend to new creation and contemplations. It helps
with dispersing information about another chose organization and making required adjustments
as per need.
Demographic- It is subsidiary with way of life of individuals which is incredible
wellspring of new manifestations. Getting requests and executions of people helps with
achieving objectives of new business.
Changes in perceptions and mood- At the point when changes are happened in
discernment then it produce inventive considerations, by setting focus in temperaments and
expectations of buyers help agent to devise changes in the new creative business and satisfying
requirements of consumers.
New knowledge- It has been analysed that, specifically creativity boost with new
information that offers various alternatives to build up another business in serious world (Korte,
2018). New information help with distinguishing better approaches to execute tasks and creating
procedure of Orgachoco.

Unexpected- Development happens tragically that produces by some coincidence. The
unforeseen danger and hazard related with picked business is more that help overseers to outline
distinctive game plan ahead of time for forthcoming time.
The rationale and the market gap for a specific entrepreneurial idea
If it is talked about the market gap within the specific market that has been taken into
consideration for the chosen idea of selling chocolates that are both organic and with zero added
sugar consists of different growth options (Ezeahurukwe and Ameh, 2018). In present context,
rationale along with market gap has been presented underneath:
Objective Current
State
Future
State
Gap
Identificati
on
Gap
Description
Factors Remedial
Action
To grab a
good market
in United
Kingdom.
Initial stage
that means
no sales
Representati
ve is craving
to boost the
deals of new
imaginative
chocolate
item approx
150000.
With the
assistance of
leading
contender
investigatio
n
By utilizing
making
progression
and utilizing
new
advancemen
ts
Singular
need natural
beverage
that are
solid and
scrumptious
.
Mindfulness
partnered to
wellbeing
and flavor
production
of natural
chocolate
bars.
Qualities just
as usefulness
of item
Item isn't
propelled at
this point.
Augmentati
on in future.
Truly There are
less number
of
associations
that offer
natural
chocolate
bars with
zero added
sugar.
Item isn't
propelled at
this point.
Arrange
survey
criticism
based on
present
shopper and
causing
changes in
procedure to
give natural
chocolate

bars.
STP approach
Segmentation- The commitment of the organization will do division based on segment
and conduct. In segment the organization will focus on those person who are thrifty and belongs
to the age group from 5 to 60. In Behavioral, they center around those individuals who make
focus in quality administrations, fitness, and brand unwaveringness and medium use rate (Ilonen,
Heinonen and Stenholm, 2018).
Targetting- Orgachoco is targetting clients who like chocolate product and also focus on
healthy product. The firm target 5 to 60 age group of people of Middlesex and Essex.
Positioning- In the event that it is discussed situating of the item that Orgachoco in the
commercial center, the organization acknowledge diverse business strategies to manufacture
open connection and direct showcasing and so forth.
Industry Life cycle
The phases of it is defined as under:
Startup stage- Primal phase, where new creation are contrived where client request is
contracted in chocolate division. Dissemination framework isn't clarified and complimentary
items are not open reason for ignorance of new great in commercial center.
Growth stage- This is considered to be the stage where, new inventive items gradually
begins to devise their situation in market and benefit began to increment.
Shakeout stage- Third phase where combination of zero added sugar based chocolates
item happen and various organizations began to get reduced level of incomes in this phase.
Maturity stage- Distinctive chocolate associations are all around set up and gaining great
benefit. There are a few associations that offer substitute item in advertise.
Decline phase- It is considered to be the last stage, where Orgachoco and there are a few
development alternatives are available to organizations to make due in compelling way in
individual business area (Korte, 2018).

Activity 2
Covered in PPT
Activity 3
SWOT framework to aggregate evidence to support an objective assessment
SWOT Analysis of Orgachoco is presented underneath:
Strength: Orgachoco, which is specifically a chocolate manufacturing business
organisation that has incorporated the elements which presents the valid statements of the
organization with the goal that the organization can utilize such factors in the most ideal manners
to expand the benefits in the piece of the pie and fabricate the incredible picture in the market so
client realize that organizations item and administrations in better manners (McDermott, Kurucz
and Colbert, 2018).
Weakness: Under this circumstance, the Orgachoco attempts to lessen its shortcoming
with the goal that they can accomplish the strategic vision of the organization over the long haul.
Shortcoming can be useless utilization of advance innovation in the tasks the board which will
viable the productively of the organization (Wang, Thornhill and De Castro, 2017).
Opportunities: This is significant piece of the Orgachoco, as organization are searching
for different sort of chances to improve the profitability for the association in the commercial
center. The organization has chances to dispatch new chocolate bars for the objective fragment
of the Orgachoco. The organization attempts to realize what is client needs in terns of various
sort of chocolate bars as taste and inclination of the client are continuing changing on the normal
premise.
Threats: Orgachoco attempts to discover the any strings which are available in the
workplace which coordinating with the shortcoming of the organization so lessen the effect of
such strings in the organization and keep up the efficiency of the organization in the commercial
center. The organization center around lessening the impact of the string which are available in
nature with the goal that organization can make item and administrations as per needs of the
client in the market (Nijssen, 2017).
Competitive and market environments in which the idea will be launched to asses potential
viability
Porter's five force:

To implement new ideas in an effective manner, this analysis is useful to evaluate the
market conditions and feasibility. For this, five forces are discussed as under:
 Threat of new entrants: With the appearance of new contestants, the profitability of
organization gets influenced as when new participants happen in the market. By this, the
opposition level gets increments as it by one way or another adversely impacts the
presentation of an association. Around here, chocolate bars offered by Orgachoco is taken
for this, business visionary need limited quantity of venture which can build up the odds
of risk from new participants (Park, Sung and Im, 2017). Also, so as to increase upper
hand it is very huge for a business person to investigate the working and fixed expense.
Moreover, business people can without much of a stretch continue in showcase and
furthermore win high gainfulness in the event that they produce products in mass and
give high markdown to organizations.
 Threat of substitutes: If it is talked about items that are considered to be substitutes in
nature are those that are handily devoured by clients at other spot as it turns into the large
risk for organizations. For this, associations who have low substitutes can get a handle on
more open doors that charge high sum structure clients and furthermore upgrades the
degree of benefit. For this, there are numerous substitutes that organization use in making
chocolate bars offered by Orgachoco that will in general increment the degree of dangers
for a business person. For this, organization use chocolate power as though it is
accessible at low rates. It is significant for a business visionary to give new thought in
showcase at modest costs in contrast with their rivals and make progress and acquire
more benefits.
 Bargaining power of suppliers: In this specific circumstance, Orgachoco abject its
capacity of providers as it turns out to be simple for them to switch structure different
providers. For this, there are number of providers are available who can give crude
materials to organization at low costs. In this manner, the intensity of providers is low
and purchasers have opportunity to take crude materials at modest costs that prompts
increment gainfulness.
 Bargaining power of buyers: This force depends on the factor that how significant a
client is for organization. For this, element with huge client base will in general have less
force in the hands of clients that wins in the market. In addition, the Bargaining power of

buyers is low as there are extremely less choices for organizations in showcase zone i.e.
Middlesex and Essex. For this, business visionaries has opportunity to raise the quantity
of clients as though they charge low costs to draw in more clients (Sagath and et. al.,
2019).
 Competitive rivalry: It is commonly the quantity of contenders that wins in showcase and
furthermore impacts the presentation of organization. In present occasions, the nearness
of rivals in the contribution is chocolate bars offered by Orgachoco is less and for this,
business visionary has a chance to create positive notoriety and nearness in showcase. For
this, they have opportunity to grow great and sound relations with different organizations
that causes them to continue in showcase for longer timeframe (Reuber and et. al., 2018).
CONCLUSION
As per the above conversation, the organization thinks of the new item and administration
in the market, by assessing the diverse wellspring of ambitious thoughts and advancement and
different individuals specifically bind to utilize various apparatuses and procedure to analyze.
Also, gap in the market possibilities with the goal that organization can meets its objectives by
giving and satisfying the requirements and needs of the client now and again. The organization
likewise done market examination to know the taste and inclination of the intended interest
group with the goal that organization can create the merchandise as per the necessities and
prerequisite of the client so organization can gives the exact item and make benefits in the
market and fabricate the brand picture in the objective commercial center.

REFERENCES
Books and Journals
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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).
Ezeahurukwe, N.L. and Ameh, A.O., 2018. ENTREPRENEURIAL OPPORTUNITIES
AVAILABLE IN THE OFFICE TECHNOLOGY AND MANAGEMENT
PROGRAMME. Nigerian Journal of Business Education (NIGJBED). 4(2). pp.357-
367.
Ilonen, S., Heinonen, J. and Stenholm, P., 2018. Identifying and understanding entrepreneurial
decision-making logics in entrepreneurship education. International Journal of
Entrepreneurial Behavior & Research.
Korte, R., 2018. Identifying as an Entrepreneur: A Social Identity Perspective of the
Entrepreneurial Mindset. Advances in Engineering Education. 7(1). p.n1.
McDermott, K., Kurucz, E.C. and Colbert, B.A., 2018. Social entrepreneurial opportunity and
active stakeholder participation: Resource mobilization in enterprising conveners of
cross-sector social partnerships. Journal of Cleaner Production. 183. pp.121-131.
Nijssen, E.J., 2017. Entrepreneurial marketing: an effectual approach. Taylor & Francis.
Park, J.Y., Sung, C.S. and Im, I., 2017. Does social media use influence entrepreneurial
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Reuber, A.R. and et. al., 2018. International entrepreneurship: The pursuit of entrepreneurial
opportunities across national borders.
Sagath, D., van Burg, E., Cornelissen, J.P. and Giannopapa, C., 2019. Identifying design
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Online
What are the sources of innovation. 2019. [Online]. Available Through:
<https://notesmatic.com/2016/09/sources-of-innovation/>.