Take a market that is still has scope for innovation – such as the provision of new services on the web – and investigate the entrepreneurial strategies that might be available for entering such a market. Identify those strategies, if any, that are more likely to deliver sustainable competitive advantage.
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Take a market that is still has scope for innovation – such as the provision of new services on the web – and investigate the entrepreneurial strategies that might be available for entering such a market. Identify those strategies, if any, that are more likely to deliver sustainable competitive advantage.
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- Select a known local entrepreneur in Grenada currently engaged in the production of a creative and innovative local product or service for a period of ONE to FIVE years. Explore the background of the local entrepreneur, providing details on the history, industry, source of the idea for the good/service produced, the nature of the entrepreneurial opportunity that he/she exploited and the resources used in developing the entrepreneurial opportunity. Critically assess the local entrepreneur’s entrepreneurial potential by identifying and discussing at least FOUR (4) key characteristics and skills that are most critical to his/her entrepreneurial success as discussed in the course. Provide relevant examples that will support the assessment (at least TWO). Discuss TWO (2) main categories of creativity techniques and their application to entrepreneurial opportunity identification and development as discussed in the course. You must incorporate at least TWO (2) examples for each main…Innovation being key to the survival of Entrepreneurs in the competitive business environment, discuss the innovation strategies or plans an entrepreneur should put in place to ensure that innovation works positively for the growth of the enterprise.What strategy should a business manager follow to increase the competitiveness of his business?
- As would-be entrepreneur, you are tasked to write down at least 3 career opportunities which attract you most. Indicate what competencies you need to enhance in order to become successful in these opportunities. Explain your answer.Why will we assess any business model, and how will we view our business solution that will deliver actionable business insights?You have been asked to teach the employees of a small start-up business how new ideas may be converted into viable business opportunities. In this activity, you will conduct your own preliminary research into ways in which new business ideas can be turned into opportunities. The differences between business ideas and opportunities; The characteristics of a viable business opportunity; Ways in which business ideas can be turned into viable business opportunities
- Describe how the internet has helped a certain business operate more efficiently. Could you provide an example and describe its likelihood of being profitable?Imagine running a large city travel business. Despite many commercial customers, growth has stagnated. You think technology can help you. Does your company have a strength, weakness, vulnerability, opportunity, and threat?As would-be Entrepreneur, you are tasked to write down at least 3 career opportunities which attract you most. Indicate what competencies you need to enhance in order to become successful in these opportunities. Write your answer in the space provided.
- Discuss how a market economy facilitates innovation and entrepreneurship. Explain your answer with relevant examples. (identifying and explaining the relevant factors.)All companies want to have growth, but growth is not all the same in terms of its lasting effects. To get started this week, read the article in Forbes, 13 Factors to Ensure Sustainable Business Growth Links to an external site.. After you read the article, choose a company that you are interested in or would like to work for one day. Assess the company and suggest two growth strategies you would recommend for the company and explain why you have made these recommendations. https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2020/06/08/13-factors-to-ensure-sustainable-business-growth/?sh=7aa2c6975279Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?