Unit-27.docx - Unit 27 Identifying Entrepreneurial Opportunities Student Name Student ID Author\u2019s Note Table of Contents Introduction.3 LO1

Unit-27.docx - Unit 27 Identifying Entrepreneurial...

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Unit 27 Identifying Entrepreneurial Opportunities Student Name: Student ID: Author’s Note:
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Table of Contents Introduction ................................................................................................................................ 3 LO1. Scrutinizing of different possible origins of a new and unique business venture ............. 3 P1. Evaluating the sources of dissimilar entrepreneurial thoughts inventiveness ................. 3 M1. Evaluating the Systematic Innovation through Ducker's model of 7 sources ................ 4 LO2. Demonstrate the preference of a particular entrepreneurial research idea and its market disparity ...................................................................................................................................... 6 P2. Enlighten the market gap in regards to the specific entrepreneurial thoughts ................. 6 M2. Describing the ways of filling up the market gap through the innovative entrepreneurial thoughts ......................................................................................................... 7 LO3. Utilizing the primary and secondary data to recognize the market prospective ............... 8 P3. Illustrating the required data for the evaluation of the gap analysis regarding the particular entrepreneurial concepts ........................................................................................ 8 P4. Interpreting the data to provide proper evidence of the market prospective ................... 9 M3. Justifying the specific sources and different methods of data collection to identify the market potential .................................................................................................................... 10 LO4. Evaluating the idea of entrepreneurship throughout the market perspective and the competitors to conduct an assessment regarding the potential viability .................................. 12 P5. Utilizations of the SWOT Framework to collect different pieces of evidence to support the entrepreneurship concepts .............................................................................................. 12 P6. Evaluating the competitive environments of the market to recognize the potential viability ................................................................................................................................ 13 M4. Critically assess the particular entrepreneurial ideas in regards to the competitive marketplaces ......................................................................................................................... 14 Conclusion ................................................................................................................................ 15 References ................................................................................................................................ 16 Page | 2
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Introduction The responsibility of an entrepreneur is to evaluate possibilities, risks as well as the capacity of individuals to transform a business idea for overall organizational development ( Kaya and Rust, 2010). This study mainly gives students an overview of where innovative business ventures emerge and present them with both the ability to study and test new business proposal.The recognition of possibilities has been one of the critical issues in the field of business. Identifying opportunities is partially critical and often, the primary steps in the business process ( Carson, 2018). This report mainly focused on the evaluation of systemic innovation that is vital to enhance the specific entrepreneurial thoughts effectively. This study also focused on the startup ideas of Softech IT Solution. This organization will provide the clients high quality websites with dynamic designs in an affordable rate. Apart from that, organization also aims to provide the clients high quality contents for their websites. For that reason it is important for this organization to scrutinize various possible origin of the new brand is vital for the entire business organisation to get more competitive advantages through the business operation.
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