Entrepreneurship: Identifying Market Trends
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Entrepreneurs at this point take note of interesting trends in their environment by gathering information from various sources like the customers as market needs originate from them.

Opportunity Spotting and assessment.

a comprehensive paper that details marketing, operational, human resource, financial, strategic direction and tactics of the business.

Developing a Business Plan

Under this process is the calculation of resources needed to established business and compare against current resources.

Determining the Capital Needed

Also known as the implementation phase.

<p>Running the Business</p> Signup and view all the answers

The starting point of any new venture that involves understanding and knowing the intricacies of the macroevironment, microenvironment, and internal environment.

<p>Scanning the Marketing Environment</p> Signup and view all the answers

The framework that most of the promising entrepreneurs use to finally come up with the ultimate product or service suited for a specific opportunity.

<p>The Concept of Seeking, Screening and Seizing.</p> Signup and view all the answers

Mnemonic for sociocultural, technological, economic, environmental, political, legal, ethical and demographic factors.

<p>STEEPLED</p> Signup and view all the answers

The source of current trend on what is happening in the industry where the future business will belong to.

<p>Industry</p> Signup and view all the answers

New trends that can be the core business model of a new venture

<p>New Discovery or Knowledge</p> Signup and view all the answers

Projected new opportunities that can possibly affect the new business while it is running

<p>Futuristic Opportunities</p> Signup and view all the answers

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