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OPPORTUNITY SEEKING

Essential to an
Entrepreneur’s opportunity
seeking
1. Entrepreneurial mind frame –allows the
entrepreneur to see things in a very positive and
optimistic light in the midst of crisis or difficult
situations
2. Entrepreneurial Heart Flame- Drawn to find
fulfillment in the act and process of discovery
3. Entrepreneurial gut game –the ability of the
entrepreneur to sense without using the five
senses. Also know as intuition.
Sources of Opportunities
1. Macro -Environmental Sources of
Opportunities
a. Socio – Cultural
b. Political
3. Economic
4. Ecological
5. Technological
Relevant Opportunities and Threats to a Fast Food
Chain
Factors Opportunities to the Threats to the Enterprise
Enterprise
1. Social - increased customer base for the fast
- Increasing double income earners food chain
in the family - More healthy product offerings are
demanded by the customers

2. Political Increased purchasing of the consumers


- Tax exemption for 13th month pay leading to higher retail sales
and other bonuses up to 70,000
pesos passed by congress

3. Economic - opportunity for the enterprise to smaller suppliers’s difficulty coping


- ASEAN integration in 2015 ( zero expand to other ASEAN markets with greater competition posed by
tariff) foreign rivals

4. Ecological Opportunity to start an advocacy Additional costs incurred by new


-increased usage of eco bags and toward a greener operation packaging may decrease profitability
environment- friendly containers
5. Technological - Greater usage of apps to place delivery Potential for online customer
- Increased usage of smartphones via smartphones , which may help disappointments and netizen bashing
to disseminate information increase market reach due to poor product / service delivery
Industry Sources of
Opportunities
 Participants in an industry include :
1 Rivals or Competitors
2.Suppliers of Input
3. Consumer market segments being served by
rivals or competitors
4. Substitute products or services, which
customers shift or turn to
5. All other support and enabling industries.
Participants in an Industry

1. Rivals or competitors in a particular type of


business . Competing with the same market
2. Suppliers of Input
3. Consumer market segments being served by
rivals or competitors
4. Substitute products or services, which
consumers shift or turn to
5. All other support and enabling industries
Ways of Defining Industry

1. Product types. (Computer industry, Fast


food industry
2. Product or Value – Added Chain
Reflection:

What are the major opportunities and threats in


the industry that you expect to participate? If
you are already pursuing a business, give the
opportunities and threats in this business.