INTRODUCTION

The Covid 19 pandemic has forced many businesses to change the way in which
they operate. The Pandemic is seen as a threat to businesses and their
relationship with their customers. It is of utmost importance that businesses do
all that they can and implement the most effective strategies. This assignment
will focus on creative thinking and problem solving, business opportunities,
business information and business plans. Many businesses have decided to
transform this pandemic threat into a business opportunity. Entrepreneurs will
use the acquired skills as well different guidelines and strategies to ensure that
their business beats competition and generates all the profit that they possibly
can while keeping their customers satisfied.

2.Meaning of a business opportunity and practical examples

A business opportunity allows an entrepreneur to invest and begin a business.

There are different components as well as tools to identify a business
opportunity.

Many businesses have started to use the lockdown as a business opportunity in

many ways. An example is using lockdown to expand their online services.
Lockdown has made it difficult for in person purchases and therefore only leaving
the internet as a source to allow interaction between customers and businesses.
An example of such businesses would be Amazon. Amazon a successful company
has used the lockdown and the pandemic as an opportunity to expand their
services online. Since people were not allowed to leave their homes they needed
to find a way to stock up on goods online, and Amazon became this emergency
port to stock up on goods. Amazon's approach to this business opportunity has
proved successful in helping their growth as a business.
Not only have big companies used lockdown as a business opportunity but so
have locals with small businesses. An example in my community would be
entrepreneurs who have resorted to selling face masks and hand sanitizers to
drivers and other people in the community. This is one of many ways that people
in my community have used the lockdown as an opportunity to venture into new
businesses.

3.THE IMPORTANCE OF ASSESSING NEEDS AND DESIRES IN IDENTIFYING A

BUSINESS OPPORTUNITY

~One of the most important factors whe evaluating a business opportunity is

market size "The relationship you must have with potential investors or

customers

"The ability to to manage cash flow

"Looking at what the community do not have and what it needs

"Passion and persistence

4.How businesses can use mind mapping and brainstorming to identify new and
innovative business opportunities

As for brainstorming members of a business gather up together as a group to

generate a large number of ideas for the solution of a problem. Brainstorming
also helps to boost the participants morale and improves teamwork. Step 1.
Define the problem

Step 2. Select participants

Step 3. Inform participants

Step 4. Create a list of lead questions

Mind maps are used in businesses as an effective method of note-taking and can
also be used for generating ideas .Mind maps makes it easy to identify and
understand the structure of a subject and contains information in a format that
your mind finds easy to remember and quick to review.

For a example of a mind map on time management you can use a SWOT analysis
and list your ideas

5. HOW THE BUSINESS USED CREATIVE THINKING TO SOLVE

PROBLEMS, IN PHASE 1

~The business prevented people from sitting next to one another in crowded
places, now they can watch movies in their own car without being in contact with
strangers.

6.THREE WAYS A BUSINESS CAN USE CREATIVE THINKING TO SOLVE BUSINESS

PROBLEMS

~The businessmust listen to other peoples ideas

~Stop being negative

~Accept that it is possible to improve on anything

7.FIVE GUIDELINES FOR EFFECTIVE BUSINESS REPORTS

~Prepare an overview

~Write concisely to the point

"Use regular language which is understandable

~Use visual summaries such as graphs, diagrams and drawings

~Edit the report, eliminating spelling mistakes grammertical errors or factual

inaccuracies