Excavating entrepreneurship in business

Posted by Imam Larh on Monday, 19 March 2018

This analysis includes the identification and evaluation of out-of-control influences, customers and competition and the company's ability to determine opportunities, threats, strengths, and weaknesses. This condition as information materials develops business strategy in analyzing market opportunity (Market opportunity analysis).

Bygreve (1996) reveals that market opportunities are a combination of factors that create the potential to sell a company's product or service. This condition places the position of entrepreneurial strategy in business which includes aspects:
  1. Choosing the process to be a logical stage to facilitate control and analysis
  2. Taking into account the real aspect, which gives different results, as a result of judgment, election or opportunity
  3. Level of tolerance that recognizes the existence of a real phenomenon process based on the performance range For that entrepreneur trying to gather information from various sources as material to form a picture of the nature and existence of market opportunities.
This approach is able to illustrate:

1. Identifikasi factors business environment

  1. Conditions and economic trends
  2. Situations and trends in laws and regulations
  3. Position placement and technological trends
  4. Relevant social change
  5. Greed and ability of the natural environment
2.Type and industry and views about it
  1. Type of industry
  2. The size is now and 5 years
  3. Practice marketing in industry and business
  4. The main trend
  5. Implications for opportunities
3. Analysis of key opportunities
  1. Product description
  2. Placement of market position
  3. Market practices (distribution, pricing, promotion, service)
  4. Estimated market share
  5. Reaction to competitors
  6. Implications for opportunities
4. Create a target market profile
  1. Depth in common needs, product type, brand
  2. End-user focus
  3. Profile of target customers
  4. d. Implications for opportunities
5. The composition of the sales projection
  1. Formal and/or intuitive approach
  2. Run or not run For that activity can be done through:
  • The results of deep observation
  • Research results
  • Opinions from experts
  • The opinions of practitioners
c. Summary

The entrepreneur is the person who organizes and directs the new business. Entrepreneurs dare to take risks associated with the process of starting their business. Some Entrepreneurs can be born into an art by starting to open rice stalls, cigarette kiosks, bicycle workshops, and eventually, continue to grow into big and successful. 

Most of those who learn to become Entrepreneurs, always follow and learn the success of experienced Entrepreneurs. Maybe they have admired someone's success, relatives, friends, or from parents.

Economic activity continues to grow and develop. This condition causes everyone to try to develop themselves with the competence to develop ideas and seize measured opportunities and certain levels of achievement as well. Therefore thousands of companies established people to develop themselves. 

There are companies that survive and succeed, and some are experiencing failure. Some are growing and succeeding because the company is managed by an experienced salesperson and knows what he is doing. The talent of an Entrepreneur will increase and grow thanks to the knowledge, experience, and skills gained from the interaction with the environment.

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