recognition in the potential market

sources of opportunities

what are the sources of opportunities in the market?

1. changes in the environment

2. technological discovery in the environment

3. government thrust, programs, and policies

4. people’s interest

5. past experience

 refers to the physical, environmental, societal, and industry environment

external enviroement

physical enviroment, weather conditions

climate

physical enviroment, occur in nature and can be used for economic gain

Natural resources

animals in the physical enviroemtn

wildlife

laws, rules, regulations in societal enviroment

political forces

 income level and employment rates

economic forces

 customs, lifestyles, and values that characterize a society

sociocutural forces

new technology innovations and new innovations

technological enviroment

industry enviroment (sino sino ang mga nakapaloob dito)

• Competitors

• Customers

• Creditor

• Employees

• Government

• Suppliers

• Sees a business opportunity in any new discovery or because of the latest technology

1. Technological discovery in the environment

When the government makes policies or bans a certain product you find an opportunity to make like a substitute for that product

Government thrust, programs, and policies

The interests, hobbies, and preferences of people are a rich source of entrepreneurial ideas

people’s interest

Expertise and skills developed by a person who has worked in a particular field may lead to the opening of a related business enterprise

past experience

- anything we can offer to a market for attention, acquisition, use or consumption that could satisfy a need or want

product

- a special form of product provided in the form of an activity

Service