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A82793.doc.docx - Identifying Entrepreneurial Opportunities...

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IdentifyingEntrepreneurialOpportunities
Table of ContentsINTRODUCTION.................................................................................................................................3TASK 1....................................................................................................................................................3P1 Evaluation of different sources of entrepreneurial ideas and innovation.....................................3P2 Explain rational and market gap by using relevant tools and technique.......................................5TASK 2....................................................................................................................................................7P3 Evaluation of gap analysis with specific entrepreneurial idea.......................................................7P4 Interpret data appropriately to provide evidence of market potentials......................................11TASK 3..................................................................................................................................................13P5 Implement of SWOT framework that support objective assessment of entrepreneurial idea....13P6 Evaluate the competitive market environment...........................................................................14CONCLUSION...................................................................................................................................15REFERENCES....................................................................................................................................16
INTRODUCTIONEntrepreneur is the person who bear risk to start or launch own business which help togenerate profits from different operations. It is a exercise that help to design business andthen start it into actual process which signify its activities that are offer to market. Usually inthis case opportunities are identified that are present in market an entrepreneur convert thisinto potential market. Ithelp to manufacture new goods and services by managing andorganising different resources. In this present assignment report beauty cosmetic products arechosen that include highlighters, moisturiser, eye brow and make up remover etc. The majormotive of this report is to explore ideas and innovation which determine the market gapbetween company and market by implementing relevant tools and techniques. Along with thisSWOT is also executed which help to evaluate market environment and to predict itsviabilities and capabilities.TASK 1P1 Evaluation of different sources of entrepreneurial ideas and innovationIn order to identify different sources of idea and innovation are depend on the marketand customer needs and wants. It signify this process require strong research anddevelopment which help to examine needs of customer. The changes that are incurred inexternal environment create different opportunities that are mention below.Macro environment-The manufacture and development of beauty products depend ondifferent factors that are relate with particular sector and region. It specify that each beautyproduct require different innovation which is mention below:Social factors-In present scenario customers are attracting towards unique productsthat help to consume different products it determine that customer requires constant changesin products to satisfy their need and demand. Now a days industry are moving towards greenenvironment (Grégoireand Shepherd,2012). As in this entrepreneur develop beauty skinproducts that does not impact negatively on environment.Technological factor-Business are operating its activities and delivering theirproducts at globalised level. This process is implement by the sustenance of technologywhich signify the importance of technology in present scenario. In the case of beauty
products it is essential to adopt technology in manufacturing process because it help to matchto achieve target quickly.

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Term
Spring
Professor
dr bhagat
Tags
Marketing, Beauty Cosmetics

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