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IDENTIFYING AND ANALYZING DOMESTIC AND INTERNATIONAL OPPORTU
209
THANK YOU FOR
LISTENING
4 Section
Opportunity
Assessment
International entrepreneurship is :-
- Process of conducting business activities across national boundaries.
- Constitute exporting, licensing, or opening a sales office in another country.
THE NATURE OF
INTERNATIONAL ENTREPRENEURSHIP
OPPORTUNITY RECOGNITION AND
OPPORTUNITY ASSESSMENT PLAN
THE IMPORTANCE
OF INTERNATIONAL BUSINESS
TO THE FIRM
- Every firm is competing in a hyper competitive global economy
- Entrepreneur can be able to move in the world international business
- The successful entrepreneur will fully understand how international business differs from purely domestic business and be able to respond accordingly, thereby successfully "going global"
CHAPTER 5
IDENTIFYING AND ANALYZING DOMESTIC AND INTERNATIONAL OPPORTUNITIES
An opportunity assessment plan is NOT a business plan
- Is shorter
- Focuses on the opportunity
- Has no computer based spreadsheet
- Is the basis for making the decision.
MAJOR SECTION
FIRST SECTION
Develops the product or service idea, analyzes The competitive products and companies, and identifies the uniqueness of the idea in terms of its unique selling propositions.
- A DESCRIPTION OF P/S
- THE MARKET NEED OF P/S
- THE SPECIFIC ASPECT OF P/S
- THE UNIQUE SELLING PROPOSITIONS OF P/S
- THE COMPANIES IN THE MARKET SPACE
- THE COMPETITIVE PRODUCT AVAILABLE
MAJOR SECTION
SECOND SECTION
FOCUSES ON THE MARKET-ITS SIZE, TRENDS,
CHARACTERISTICS, AND GROWTH RATE
- THE MARKET NEEDED FIILED
- THE SOCIAL CONDITION UNDERLINING THIS MARKET NEED
- ANY MARKET RESEARCH DATA AVAILABLE TO DESCRIBE THIS MARKET NEED
- THE SIZE, TRENDS, AND CHARACTERISTICS OF THE DOMESTIC AND/OR INTERNATIONAL MARKET
- THE GROWTH RATE OF THE MARKET
MINOR SECTION
THIRD SECTION
FOCUSES ON THE ENTREPRENEUR'S AND MANAGEMENT TEAM'S
BACKGROUND, EDUCATION, SKILLS, AND EXPERIENCE
- WHY DOES THIS OPPORTUNITY EXCITE YOU?
- HOW DOES THE P/S IDEA FIT INTO YOUR BACKGROUND AND EXPERIENCE?
- WHAT BUSINESS SKILL DO YOU HAVE?
- WHAT BUSINESS SKILLS ARE NEEDED?
- DO YOU KNOW SOMEONE WHO HAS THESE SKILLS?
MINOR SECTION
FORTH SECTION
DEVELOPS A TIME LINE INDICATING WHAT STEPS NEED TO BETAKEN TO SUCCESSFULLY LAUNCH THE VENTURE AND TRANSLATE THE IDEA INTO VIABLE BUSINESS ENTITY
- IDENTIFYING EACH STEP
- DETERMINING THE SEQUENCE OF ACTIVITIES AND PUTTING THESE CRITICAL STEPS INTO SOME SEQUENTIAL ORDER
- IDENTIFYING WHAT WILL BE ACCOMPLISHED IN EACH STEP
- DETERMINING THE TIME AND MONEY REQUIRED AT EACH STEP
- DETERMINING THE TOTAL AMOUNT OF TIME AND MONEY NEEDED
- IDENTIFYING THE SOURCE OF THIS NEEDED MONEY
SWAROVSKI