Opportunity seeking

Entrepreneurs are innovative

opportunity seekers. They have
endless curiosity to discover new or
different ideas and see whether
these ideas will work in the market
place.
Entrepreneurs create value by
introducing new products or
services or finding better ways of
making them.
 These may include innovation in terms of product
design or addition of new product features to
existing ones.
They may also tinker on improving their
operational capability by employing new
technologies that will bring them greater efficiency,
better economies.
They may also consider expanding their reach by
creating new markets or maximizing existing
market reach.
Entrepreneurial mind fame,
heart frame, and gut game
 Mind frame-allows the
entrepreneur to see things in a
very positive and optimistic
light in the midst of crisis or
difficult situations.

Heart flame-driven by
passion, they are drawn to fine
fulfillment in the act and
process of discovery.

Gut game-the ability the

entrepreneur to sense without
using the five senses.
 Macro Environment

This refers to the “big or macro forces”

that affect the area, the industry, and the
market, which the enterprise belongs to.

They influence how business should be

conducted, how consumers will behave,
how supply and demand will move, how
different competitors would position ,
and how the cost of doing business will
proceed
 Five categories

•Socio-Cultural
•Political
•Economic
•Ecological
•Technological
A TIME OF DANGER! A TIME OF OPPORTUNITY!
WE LOOK FIRST AT THE OPPORTUNITY, AND YES, WE RECOGNIZE
THAT THERE IS DANGER !
 •Socio-Cultural Environment- assess the
trends and dynamics of the bigger
consumer population, their beliefs, tastes,
customs, and traditions

•Political Environment-it includes all the

laws, rules, and regulations that govern
business practices as well as the permits,
approvals, and licenses necessary to
operate the business
Economic Environment-supply and
demand forces in the market will
make customers shift to other
products

Ecological Environment-includes
all natural resources and the of
ecosystem, habitat of men,
animals, plants, and minerals.
 Technological Environment-new
scientific and technological
discoveries, which often lead to the
launch and commercialization of
new products with superior
attributes or to rendering the old
ones obsolete.
 Industry Sources of
Opportunities
-it includes the relevant customers,
direct and indirect competitors and
the critical characteristics of the
market as to the quality of products
or services to be delivered
 A thorough analysis of industry structure
and dynamics yields opportunities for the
clever entrepreneur.

Situating his or her enterprise within the

realm of an industry provides many
profitable opportunities for the entrepreneur.

It may be according to product types or

according to the functions of the product or
service.
Participants in an Industry
include:

1. rivals or competitors
2. suppliers
3. consumer market segments
4. substitute products or services
 Thank You!

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