Business Report: Identifying Entrepreneurial Opportunities - Analysis

This report delves into the identification of entrepreneurial opportunities, focusing on the development of a new business venture, specifically an organic chocolate company. The report begins with an introduction to entrepreneurship and the process of generating business ideas, then explores various sources of entrepreneurial ideas and innovation, including the unexpected, process needs, and market shifts. It outlines the rationale for the business, including the identification of a market gap, and the data required to support the analysis. The core of the report involves the application of SWOT analysis to assess the strengths, weaknesses, opportunities, and threats associated with the organic chocolate business. It also evaluates the competitive and market environments, including substitute products, target audiences, and the micro and macro environments. The report concludes by emphasizing the importance of aligning entrepreneurial ideas with current and future trends and constructing the business plan to seek innovation and uniqueness in products and services.

Identifying
Entrepreneurial
Opportunities

Cover Content
 Introduction
 Evaluation of different sources
 Rational and market Gap
 Requirement of data
 Interpretation
 Application of SWOT analysis
 Competitive and market Environment

Introduction
Entrepreneurship is an art of setting up of a new
business so as to make profit. The business which
should be started, included designing, launching and
development in different sections. In launching up of
a new business, the factor of risk is also high.

Different Sources Of Entrepreneurial Ideas
And Innovation.
 The Unexpected:
 Process need
 The Incongruity
 Industry and market structure change
 Demographics
 Changes in meaning and perception
 New knowledge

Rationale And The Market Gap
Specific entrepreneurial idea is all about the thinking of
innovation in a specific field so that it will target a group
of customers. Orcho is a new business organization which
is going to establish in London, UK. The main focus of
this new business is to launch an organic chocolate which
is specific to its advantages.

Data Needed To Support Gap Analysis
Gap analysis is a method of analysing the difference in
performance to check whether business requirements are
being met or not. If business requirements are not
meeting than proper steps should be taken to meet
successfully

Interpret Data Appropriately
In the previous studies and analysis, it has been noticed that
organic chocolate is the pure and healthy market to start
business and venture.

Application Of The Swot Analysis
Strength Weaknesses
Main strength of this
organic chocolate idea is to
focus highly on health and
well-being of the customer
by providing them sugar
free, low fat and baking
soda or other starch
powder based chocolate's.
As compared to other
chocolate brands, market
potential is relatively low
and price of the existing
organic chocolate product
is high and needs high cost
of production. This is why
because chocolate industry
is wide and have many
players working from
longer period of time.

Continue..
Opportunities Threat
Organic chocolate would gain
market strength and
opportunities to rise giving more
and more focus on the health
and well-being issues of their
customer's and people. The
opportunities here is to focus
more on health aspects such as
fat generation, diabetes and
blood pressure such issues and
problems. Also, Orcho should
use green technology and
herbal solution into their
chocolate products.
The main threat for organic
chocolate business is the
rivalries in the industry such as
Green & Black, NibMor etc. and
also the perception and choice
of the consumer's are changing
more frequently or rapidly. This
would be the difficulty for an
organisation to arrange and
manage appropriate resources
for production process, because
they are bit costlier and not easy
available.

Evaluate The Competitive And Market
Environments
Substitute products:
Target audience:
Demand:
Micro environment:
Macro environment:

CONCLUSION
From the above report, it is concluded that entrepreneurship
and its idea generation should be in accordance with
existing and future trends and scenario. The idea
generation should be specific and well-constructed to
seek innovation and uniqueness into the actual products
and services.

REFERENCES
Grégoire, D.A. and Shepherd, D.A., 2012. Technology-market
combinations and the identification of entrepreneurial
opportunities: An investigation of the opportunity-individual
nexus. Academy of Management Journal. 55(4). pp.753-785.
Siegel, D.S. and Renko, M., 2012. The role of market and
technological knowledge in recognizing entrepreneurial
opportunities. Management Decision. 50(5). pp.797-816.
Tang, J., Kacmar, K.M.M. and Busenitz, L., 2012. Entrepreneurial
alertness in the pursuit of new opportunities. Journal of
Business Venturing. 27(1). pp.77-94.