Opportunity Identification and Selection Lecture PDF
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San Pedro College - School of Medical Laboratory Science
Ma’am Aleli Saavedra
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Summary
This document is a lecture on opportunity identification and selection. It covers the steps involved in business opportunity, resource analysis, and environmental factors, with details on the methods of collecting information and the screening process.
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TEM 100 OPPORTUNITY IDENTIFICATION AND SELECTION LECTURE Ma’am Aleli Saavedra OUTLINE FIRM-LEVEL SCREENING I. STEPS: Business Opportunity ○ Demand of the Product A. Idea Generation...
TEM 100 OPPORTUNITY IDENTIFICATION AND SELECTION LECTURE Ma’am Aleli Saavedra OUTLINE FIRM-LEVEL SCREENING I. STEPS: Business Opportunity ○ Demand of the Product A. Idea Generation ○ Technical Viability B. Selection and Screening ○ Capital/Financial Requirement C. Formulate Business Concept ○ Profitability II. Formation of Business Concept ○ Government Support A. Resource Analysis B. Environmental Analysis II. FORMATION OF BUSINESS CONCEPT C. Personal Value Analysis A. BUSINESS CONCEPT: RESOURCE ANALYSIS RESOURCE ANALYSIS I. STEPS: BUSINESS OPPORTUNITY ○ Indicates what the potential business is capable of doing at the start of the A. GENERATING IDEAS business operations in terms of its resources. SCANNING THE ENVIRONMENT Money ○ Market Materials Demand - Supply Analysis Machines Import - Export Movement Methods Product Substitution Manpower Forward-Backward Industry Management Linkages Moments (time) ○ People’s Skills ○ Available Business Assistance Programs B. BUSINESS CONCEPT: ENVIRONMENTAL ENVIRONMENT ANALYSIS ○ Social ○ Technological ENVIRONMENTAL ANALYSIS ○ Economic ○ Indicates whether the potential business ○ Environmental can survive the business environment or ○ Political not. SOCIO-CULTURAL B. 3 METHODS OF COLLECTING INFORMATION TECHNOLOGY AND TECHNICAL AD HOC SCANNING ECONOMIC ○ Short term, infrequent and usually NATURAL initiated by crisis POLITICAL REGULAR SCANNING PEACE AND ORDER ○ Studies done on more or less regular POPULATION TRENDS basis GOVERNMENT PROGRAM CONTINUOUS SCANNING GLOBAL ENVIRONMENT ○ Entails regular collection and processing of data on a wide range of factors from SWOT Analysis the business environment I. STRENGTHS 1. What is our competitive C. SCREENING PROCESS advantage? PERSONAL-LEVEL SCREENING 2. What resources do we have? ○ Personal Preference 3. What products are performing ○ Educational Background well? ○ Work Experience ○ Network ○ Support | SPC MLS 1F | 1 of 2 II. WEAKNESSES 1. Where can we improve? 2. What products are underperforming? 3. Where are we lacking resources? III. OPPORTUNITIES 1. What new technology can we use? 2. Can we expand our operations? 3. What new segments can we test? IV. THREATS 1. What regulations are changing? 2. What are competitors doing? 3. How are consumer trends changing? C. BUSINESS CONCEPT: PERSONAL VALUES ANALYSIS | SPC MLS 1F | 2 of 2
