Chapter 6 Opportunity Identification

8/9/2019 Chapter 6 Opportunity Identification

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All Rights ReservedFundamentals of Entrepreneurship Oxford Fajar Sdn. Bhd. (008974-T), 2013 1 1


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CHAPTER 6

OPPORTUNIT I!ENTIFICATION


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O"#e$tives

The oje!"#$e% of "h#% !ha&"er are "o'

&ro$#de an nder%"and#n of a $#a*e(+ora*e) %#ne%%

o&&or"n#" #den"#f#n, o%er$#n and ana*%#n re*e$an"

$ar#a*e% and "rend% #n "he en$#ronen" "ha" !an e a %or!e of

ood o&&or"n#"#e%&ro$#de %"den"% +#"h no+*ede and %#**% #n ana*%#n and

#den"#f#n "he o%" a""ra!"#$e and %#"a*e %#ne%%

o&&or"n#"#e% %#n S/OT ana*%#% and %"ra"e#! &*ann#n

e"hod

&ro$#de %"den"% +#"h %#**% #n de$e*on a %#ne%% ode* "o

!a&"re and "rn a %#ne%% o&&or"n#" #n"o a $#a*e %#ne%%

%"ar"-&


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%earning Out$omes

At the end of this $hapter& students should "e a"le to'

de$e*o& ener#! %#**% #n #den"#f#n and !a&"r#n

o&&or"n#"#e% #n "he#r !areer and *#fe

a&&* ener#! ana*"#!a* %#**% %!h a% "he a&&*#!a"#on ofS/OT ana*%#% "o "he#r +or

e !rea"#$e and #nno$a"#$e #n de$e*on ne+ %#ne%%

ode*% or are"a*e &rod!"%

+or #n ro&% effe!"#$e* and haron#o%*#n!*!a"e a *#fe-*on a""#"de and !o#"en" "o+ard

!on"#no% %e*f-#&ro$een" and &rofe%%#ona*

de$e*o&en" "hroho" "he#r !areer


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All Rights ReservedFundamentals of Entrepreneurship Oxford Fajar Sdn. Bhd. (008974-T), 2013 1

Introdu$tion

Fndaen"a**, a** %#ne%% oran#a"#on% ex#%" "o &ro$#de a

%er$#!e or &rod!" "o "he#r !%"oer% a" a &r#!e +h#!h !an #$e

&rof#" "o "he en"re&rener% and &ro$#de $a*e "o "he !%"oer%.

Therefore, o%" %#ne%% o&&or"n#"#e% e$o*$e and de$e*o& froan effor" "o f#** a a& #n "he for of need%, +an"% and !rea"#on of

$a*e "o "he !%"oer%.


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All Rights ReservedFundamentals of Entrepreneurship Oxford Fajar Sdn. Bhd. (008974-T), 2013 1

'$anning the Environment

&ro$een" of ex#%"#n &rod!"% or #n"rod!"#on of e""er

a*#" ne+ &rod!"%.

F*f#**#n "he a&% of need%, +an"% and !rea"#on of $a*e "o

!%"oer%.

O&&or"n#"#e% a%ed on *o!a* are" or %#ne%% ad$an"ae%!h a% %&&* and deand, !o&e"#"#on, !o%" ad$an"ae,

a*#" ad$an"ae, re&"a"#on and rand ad$an"ae, e"!.

O&&or"n#"#e% a%ed on a!ro fa!"or% %!h a%

"e!hno*o deora&h#!, eora&h#! and &%!hora&h#!fa!"or%

&o*#"#!a*

"rend, e"!.


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(usiness Ideas

The fo**o+#n are exa&*e% of &o%%#*e %or!e% of %#ne%% #dea%'

Ba%ed on +or ex&er#en!e.

Ba%ed on ho and #n"ere%".

Ba%ed on !han!e en!on"er% or o%er$a"#on% +h#*e "ra$e**#n.Ba%ed on fa#* %#ne%%.

Ba%ed on %e%"#on fro %&o%e( ), %#*#n% and fr#end%.

Ba%ed on %#ne%% ne"+or%.

Ba%ed on *o!a* need%, +an"%, &ro*e or f#nd#n a&% #n "he are"&*a!e.

Ba%ed on are" "rend or are" ro+"h &o"en"#a*.

Ba%ed on !on %!!e%%f* %#ne%% ode*.


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(usiness Ideas )$ont*+

Ba%ed on fran!h#%e %#ne%%.

Ba%ed on %ear!h#n and %ee#n of ood o&&or"n#"#e% #n "he

en$#ronen".

Ba%ed on ex&er#en"a"#on, "r#a* and error e"hod% and e""er

&rod!" de$e*o&en". Ba%ed on #*d#n #n"erna* %"ren"h% %!h a% %#**%, !a&a#*#",

ex&er#en!e%, re%or!e% and ne"+or% %o "ha" o e!oe "he e%"

and o%" %#"a*e &er%on "o !a&"re "he o&&or"n#". The%e

add#"#ona* %"ren"h% "ha" o #*d a ae o&&or"n#"#e% %eeo or %#n*e o o" fro or !o&e"#"or%.

Ba%ed on read#n% fro aa#ne%, oo% and #n"erne".

5oo#n for ood ex#%"#n %#ne%% for %a*e.


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'$reening& Anal,sis and 'ele$tion

of the Opportunities

B na"re, %#ne%% en$#ronen" #% a*+a% *#e a !o&e"#"#$e

ae, on* "he e%" +#** +#n "he !o&e"#"#on.

6 n order "o +#n "he ae, an en"re&rener %" !hoo%e a %e!"or "ha"

%#"% h#% #n"ere%", a%ra"#on, %"ren"h, !a&a#*#"#e% and re%or!e% and

f#nd a are" o&&or"n#" "ha" offer% h# a""ra!"#$e and &o%#"#$efa!"or% %!h a% a %#a*e are", h#h ro+"h are" and #n#

!o&e"#"#on.

e need% "o #den"#f a %#ne%% "ha" he enjo% do#n and ha% "he

%#**% "o &rod!e h#h a*#" &rod!" and !an ae "h#% &rod!"

a" a !hea&er !o%" and "h%, !an %e** a" an a""ra!"#$e &r#!e and #n"he &ro!e%%, ae% %oe &rof#" and !on"r#"e% e""er $a*e "o

"he !%"oer%.


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Criti$al 'u$$ess Fa$tors of an

Entrepreneur

n"re&rener#a* !hara!"er#%"#! and "ra#"% %!h a% e#n

hard+or#n, a*er" "o o&&or"n#"#e%, &er%e$eran!e(de"er#na"#on),

+#**#n "o "ae !a*!*a"ed r#%%, "o*eran!e for a##", h#h need

for a!h#e$een", #n"erna* *o!% of !on"ro*, oa* or#en"ed, e"!.

no+*ede and ex&er#en!e #n "he f#e*d.

Sof" %#**% %!h a% *eader%h#&, !on#!a"#on and neo"#a"#on

%#**%.


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Criti$al 'u$$ess Fa$tors of an

Entrepreneur )$ont*+

:dea"e re%or!e% %!h a% !a"a* and han re%or!e.

;ood ne"+or#n+#"h &o"en"#a* !%"oer%, %&&*#er%, ex&er"%,

&o"en"#a* +orer%, aner% and #n$e%"or%.

;ood $#a*e %#ne%% o&&or"n#"#e% +#"h an &o%#"#$e anda""ra!"#$e en$#ronen"a* fa!"or% %!h a% are" %#e, are"

ro+"h, #n# or "o*era*e !o&e"#"#on, ood %&&or" %%"e

and a ood %#ne%% !on!e&", %"ra"e, %ond %#ne%% &*an and

e"#!*o% exe!"#on de"a#*%.


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Ade-ua$, Threshold


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'trategi$ Planning For 'mall

(usiness

'trength& .ea/ness& Opportunities and Threat )'.OT+

Anal,sis


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'trategi$ Planning For 'mall

(usiness )$ont*+

'trength& .ea/ness& Opportunities and Threat )'.OT+ Anal,sis


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0a$roenvironment Anal,sis


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(usiness 0odel


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Chapter 6 Opportunity Identification

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