entrepreneurship identifying and analyzing opportunities

Laxman Pokhrel laxman.liberty@gmail.com

9851037897

Entrepreneurship

Identifying and Analyzing Opportunities

Focused Topics

Concept; Opportunity recognition and opportunity assessment plan; Information sources;

Sources of Information for start-up entrepreneurs in Nepal;

Nature and significance of international Entrepreneurship; Domestic versus international entrepreneurship; Technological environment; Culture; Available distribution system; Motivation to go global; Strategic effects of going global;

Foreign market selection; Entrepreneurial entry strategies; Entrepreneurial partnering; Barriers to International trade; Implications for global entrepreneurship.

Introduction

• Entrepreneurs find it difficult to both manage and expand the venture they created.

• To expand a venture, entrepreneurs need to:

– Identify opportunities for domestic and international expansion.

– Develop different management skills.

– Infuse new entrepreneurial spirit (intrapreneurship).

• Factors contributing to international expansion:

– Opening up of controlled economies to market-oriented enterprise.

– Self-interest of organizations as well as the impact of external events and forces.

– Developing countries need training and education as well as infrastructure to support their development and growth in the next century.

Introduction (cont.)

Opportunity Recognition and the Opportunity Assessment Plan

• The key to successful domestic and international entrepreneurship is to develop an idea that has a market with a need for the product or service idea conceived.

• Opportunity assessment is often best accomplished by developing an opportunity assessment plan.

• An opportunity assessment plan is not a business plan.

• An opportunity assessment plan has four sections: – The first section develops the idea, analyzes

competitive products and companies, and identifies the unique selling propositions.

– The second section focuses on the market—its size, trends, characteristics, and growth rate.

– The third section focuses on the entrepreneur’s and management team’s skills and experience.

– The final section develops a time line indicating the steps to successfully launch the venture.

Opportunity Recognition and the Opportunity Assessment Plan (cont.)

Opportunity Assessment Plan

Opportunity Assessment Plan

Opportunity Assessment Plan

Opportunity Assessment Plan

Opportunity Assessment Plan

Information Sources

• General Information

• Industry and Market Information

• Competitive Company and Product Information

• Government Sources

• Search Engines

• Trade Associations

• Trade Publications

Queries?

Thank You