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E two - Essay Example

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30) states that “the first approach to identifying opportunities is to observe trends”. There are four environmental trends which, when encounter changes, bring about opening of new business opportunities. Let’s explain these with examples.
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E two

Download file to see previous pages... Who holds the disposable income also matters. When women workforce increased, companies started targeting female consumers (Barringer, 2009). When teenagers were given large sum of pocket money, they helped increase business opportunities to compact disk warehouse, designer clothing, sunglasses and cellphones.
Social trends include the family life and their working patterns; workplace diversity; increased attention to health care; friendships; increased use of cell phones and internet, and etcetera. People started buying readymade frozen food which they could microwave at home not because they wanted to eat frozen stuff, but because they were too busy to cook for themselves. This gave rise to business opportunities for companies that prepared frozen food.
Example. Internet cafés, also called net cafés, continued to grow in the last decade due to increasing number of people using internet for developing friendships. CoffeNet in USA is one such cyber café.
Technological advances have greatly increased business opportunities over the last decade. This is because whenever a new technology arises, it has to be accompanied by products and equipment that supports it. This directs opening up of new companies because the number of consumers who incorporate technology into their lives increase. However, it is not the technology itself that the consumers love; instead, it is the sophistication, ease and reliability the technology provides that is looked forward to by the consumers.
Example. Barnes and Noble is an e-bookseller company that enables people to shop books online that are then shipped to them after online payment. This company evolved when the number of consumers increased who wanted access to books without having to go to the shop and buy because their lives have become busy.
Political and regulatory changes have also given rise to many business opportunities. For example, designing of new laws regarding internet fraud brought with it the need of ...Download file to see next pagesRead More
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