TECHNOLOGY VENTURE CHALLENGE CONTENT AN
PART 1: VENTURE OPPORTUNITY, CONCEPT AND STRATEGY
Question 1: Describe the opportunity that attracts you and why you think it is a new venture opportunity.
Opportunity is a condition that can benefit or bring success to an emerging or established to be taken immediately. Opportunities are usually approaching a person in a state of vague and uncertain. Someone who is competent and willing only to be nabbed opportunities that exist in front of him. Slow grab the opportunity to escape to the hands of others.
Every business starts out opportunities that can be identified and taken the opportunity to be developed. The existence of a business opportunity to offer products in a given market depends on changes and trends in environmental factors that include economic environment, socio-cultural, political, legal, technological and competitive level.
This is due to environmental factors affecting changes in customer demand for certain types of goods. Thus, the process of observing and researching the changes and trends in environmental factors are very important to an entrepreneur to seize business opportunities in specific markets. The purpose of those opportunities in the market is when there are gaps or opportunities to offer products that can meet the demands and tastes of customers.
Identify, assess and select the business opportunity is not a simple matter. That is regarded as a step for an entrepreneur in order to start a business. In our situation, the stuff that already exists in the market but still cannot fully meet the demands and tastes of customers. This may be due to low quality goods, less choice, reasonable prices, scarce or less attractive features.
Question 2: Describe the competencies and skills you and your team members possess.
Competency is the sum total of skills, knowledge and attitudes, manifested in the employee's behavior. It is the "means" to achieve the "ends." A golfer for example, may have the skills to drive 300 yards, the
Question 1: Describe the opportunity that attracts you and why you think it is a new venture opportunity.
Opportunity is a condition that can benefit or bring success to an emerging or established to be taken immediately. Opportunities are usually approaching a person in a state of vague and uncertain. Someone who is competent and willing only to be nabbed opportunities that exist in front of him. Slow grab the opportunity to escape to the hands of others.
Every business starts out opportunities that can be identified and taken the opportunity to be developed. The existence of a business opportunity to offer products in a given market depends on changes and trends in environmental factors that include economic environment, socio-cultural, political, legal, technological and competitive level.
This is due to environmental factors affecting changes in customer demand for certain types of goods. Thus, the process of observing and researching the changes and trends in environmental factors are very important to an entrepreneur to seize business opportunities in specific markets. The purpose of those opportunities in the market is when there are gaps or opportunities to offer products that can meet the demands and tastes of customers.
Identify, assess and select the business opportunity is not a simple matter. That is regarded as a step for an entrepreneur in order to start a business. In our situation, the stuff that already exists in the market but still cannot fully meet the demands and tastes of customers. This may be due to low quality goods, less choice, reasonable prices, scarce or less attractive features.
Question 2: Describe the competencies and skills you and your team members possess.
Competency is the sum total of skills, knowledge and attitudes, manifested in the employee's behavior. It is the "means" to achieve the "ends." A golfer for example, may have the skills to drive 300 yards, the
References: Book Source: Thomas H. Byers, Richard C. Dorf & Andrew J. Nelson. Technology Ventures: From Idea to Enterprise 9 3rd. Edition McGraw Hill (2010). Internet Sources: 1) http://www.ehomemakers.net/my/article.php?id=372 2) http://99u.com/articles/7003/finding-your-work-sweet-spot-genuine-interest-skills-opportunity 3) http://ctb.ku.edu/en/table-of-contents/participation/encouraging-involvement/identify-stakeholders/main 4) http://www.projectsmart.co.uk/12-competencies-which-ones-should-your-people-have.php 5) http://www.mindtools.com/pages/article/newISS_91.htm 6) http://www.state.de.us/corp