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Unit 3 Oppotunity Seeking

This document discusses opportunity seeking, screening, and seizing for entrepreneurs. It identifies various internal and external sources of opportunities, such as demographic trends, technological advances, customer preferences, and industry changes. The key steps in opportunity spotting are seeking opportunities through exploring these sources, screening opportunities to evaluate their viability, and then seizing viable opportunities to launch new businesses or products.

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Princess Guzman
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657 views

Unit 3 Oppotunity Seeking

This document discusses opportunity seeking, screening, and seizing for entrepreneurs. It identifies various internal and external sources of opportunities, such as demographic trends, technological advances, customer preferences, and industry changes. The key steps in opportunity spotting are seeking opportunities through exploring these sources, screening opportunities to evaluate their viability, and then seizing viable opportunities to launch new businesses or products.

Uploaded by

Princess Guzman
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Unit 3: Business Opportunity Seeking, Screening, and Seizing

Lesson 1
OPPORTUNITY SEEKING:
Entrepreneurial Imperatives and
Sources
Opportunity Spotting and Assessment

 Opportunity Seeking
 Opportunity Screening
 Opportunity Seizing
Entrepreneurial Opportunity Seeking

 Being coined as the “innovative opportunity


seekers” in the business industry,
entrepreneurs are equipped with a spirit of
inquiry that will help them decide which
products or services are most likely needed in
the marketplace.
Sources of Opportunities
 External / Macroenvironmental Sources
Any enterprise, company, or organization is not
alone in its business environment. It is always
surrounded by array of factors and forces that
help in shaping opportunities but also pose
present threats to the company.
Six Macroenvironmental Sources of Opportunities

1.Demographic
2.Economic
3.Socio–cultural
4.Technological
5.Ecological
6.Political and LEGAL
Sources of Opportunities

 Internal/ Microenvironmental Sources


Internal sources pertain to those factors that
can be controlled by the management. It
includes factors of resources available that
affect individual and business.
Five Microenvironmental Sources of Opportunities

1.Customers
2.Suppliers
3.Resellers
4.Competitors
5.General Public
Sources of Opportunities

 Industry and Market Disparities

Certain disparaties in the market may


take place in the form of regulations,
deregulations, constant changes in
supply chains, and other structural
problems.
Sources of Opportunities

 Consumer Preferences and Interest


Consumer preferences and interest can also
be sources of opportunities. These
preferences refer to the interests or tastes
individuals. When products eventually
become outdated, consumer’s changes in
perception can subsequently kill sales.
Sources of Opportunities

 Technological Discoveries and Advancements


Continuous advancements in technology
can be the source of highly innovative
opportunities in the business industry.
Tip

 As an entrepreneur, you need to think about


the means adopted by shoppers when
purchasing products. You have to devise
waves for you not fall out from the industry,
most especially in today’s digital age.
The 3S of Opportunity Spotting are the
following:
• Opportunity Seeking
• Opportunity Screening
• Opportunity Seizing
Opportunity Seeking is the first step that must be
taken by any start –up venture in order to have an
idea as to the kind of business opportunity that will
be taken by any budding entrepreneur.

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