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Lectures 34 The Ent Process-Opportunity
Lectures 34 The Ent Process-Opportunity
Organisation
Goals
•Vision Environmental
•Mission
Analysis
•PESTD Formulate
•SWOT strategies
•Porter’s 5 competitive
forces
Implement
strategies
Evaluate
performance
Environmental Analysis
Besides PESTD (macro) and SWOT (micro), Porter’s (1980) framework can be
used specifically for industry level analysis.
The
The objective
objective isis toto assess
assess whether
whether appropriate
appropriate
contingency
contingencyplans
planscan
canbebeimplemented
implementedininthe
theworst-
worst-
case
casescenario.
scenario.
Alternatively,
Alternatively,ininthe
thebest
bestcase
casescenario,
scenario,the
themain
mainissue
issue
isishow
howtotoreinvest
reinvestprofit.
profit.
SOURCES OF IDEAS
The importance of networking is evident.
Government Employees
Trade
Media Entrepreneur associations
Consumers Competitors
Suppliers/
Distributors
Employees: Internal contests, QCC
Government: Annual budgets, tender notices
Media: Advertisements, feature stories
Trade associations: Exhibitions, trade visits
Competitors: First-mover weaknesses
Suppliers/distributors: Feedback
Consumers: Customer surveys, complaint desk
METHODS OF GENERATING IDEAS
Focus groups
Moderator focuses discussion of the group in a
directive or nondirective manner.
An excellent method for initially screening ideas and
concepts.
Brainstorming
Allows people to be stimulated to greater creativity.
Though most ideas generated have no basis for
further development, sometimes a good idea
emerges.
CLASS ACTIVITY
Based on the general terms
and conditions of one
selected franchise, decide
whether or not being a
franchisee is an opportunity
which you will pursue.