Project management week 7 - Essay Example

Opportunity Assessment Opportunity Assessment The company specializes on video business in several markets around the world. The business always endeavors in producing innovative communication technologies that greatly meets customer needs because of the ever-changing trends in the market. There are several opportunities out there that need to be grasped at the right time to make sure that the business sustains the nature of competition in the video business. This will demand that all the departments involved should move with speed in order to benefit from these opportunities that have presented to the company.

There is need for dedication of all the stakeholders in the company so that these opportunities can benefit the company. As a company we believed in order to grasp these opportunities there is the need to commit the resources that will be used to venture into them. It believed resources can do marvelous things in making sure that these opportunities and goals of the business are achieved easily. Also, adequate resources will mean that the company will have a competitive advantage as compared to the rivals (Cavusgil, 2009).

Furthermore, a market opportunity will present itself service or product in the company meets the newly identified need or of a market with a new or enhanced solution better than the competition. While assessing and identifying the opportunity, the managers and the executive should analyze real as well as perceived value of the opportunity, the competitive environment, risks and returns of the possible opportunity, creation and length of opportunity. This opportunity assessment will answer the many questions that include the potential market the company will venture in order to reap the fruits of this opportunity (Zisa, 2011).

The opportunity in this case is the new video markets in China. The video industry in China has been growing in the past two no video company has entered this lucrative markets. Therefore, this implies this is the right time the company should enter this market bearing in market that China will present the company with other opportunities. Furthermore, venturing into China market with our video products is a suitable market. First, China presents a promising economy in the world that will boost the video business.

The China’s environment will boost our business global competitiveness and sell more products. The country has extensive infrastructure that will promote the growth of the business towards attaining its goals. Furthermore, China has friendly investment policies to foreign firms. These policies include taxation policies, which have been seen as more friendly around the world. This means that penetrating into China’s market will be an ideal market for our company that will mean also that the company will venture into other Asian markets (Lundy, 2007).

Arguably, it will be advisable that the management and executives should unanimously endorse this noble opportunity so that the company can enter this promising market as soon as possible. In this regard, the management should set aside funds that will used to carry out market research and used to acquire assets that will be used to start the business. These assets will include video equipments, personnel, and buildings. In addition, since the company currently uses direct selling, the company should ensure that they adopt other promotional techniques such as social networking.

This is because many people in China have cell phones. Therefore, based on the opportunity assessment, this is a life-time opportunity and the company should miss because not foreign firm has entered this potential market (Lundy, 2007). References Cavusgil, S. T. (2009). Conducting market research for international business. New York, NY: Business Expert Press.Lundy, M. (2007). Participatory market chain analysis for smallholder producers. Cali: Centro internacional de agricultura tropical (CIAT.Zisa, L. (2011).

Positioning and Opportunity Assessment Report with main focus on Germany, China, USA, New Zealand: The establishment of an English Tea Company. München: GRIN Verlag GmbH.