Chapter 4

ASSESSING THE ENTREPRENEURSHIP

ENVIRONMENT

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 Opportunity Recognition and the
Opportunity Assessment Plan

• The key to successful domestic and international entrepreneurship

is to develop an idea that has a market with a need for a product or
service idea conceived
• An opportunity plan is not a business plan. Opportunity plan is:

Is the basis
for making the
decision to
either act on
an opportunity
or wait until
another better
opportunity
comes along

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• Opportunity assessment plan has four sections
– Two major sections
– Two minor sections

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SWOT ANALYSIS

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• A SWOT analysis is a strategic planning tool
that helps a business owner identify his/her
strengths and weaknesses, as well as any
opportunities and threats that may exist in
a specific business situation. A SWOT
analysis is most commonly used as part of
a marketing plan, but it is also a good tool
for general business strategizing and serves
as a starting point for team discussions.

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• BENEFIT OF SWOT ANALYSIS
•
SWOT Analysis is a very effective way of identifying your Strengths and
Weaknesses, and of examining the Opportunities and Threats you face.

•
Holding out an analysis using the SWOT framework helps you to
concentrate your activities into areas where you are strong and where the
greatest opportunities lie.

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 Examples of SWOT analysis can be used to assess:
 A business idea
 A company (its position in the market, etc.)
 A new market or launching a new product
 A method of sales distribution
 Launching a new product or brand

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 BUSINESS MODEL CANVAS
• Refer slide BMC

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