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.
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 ...
Cite this document
(“E two Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/407046-e-two
(E Two Essay Example | Topics and Well Written Essays - 1000 Words)
“E Two Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.net/miscellaneous/407046-e-two.
Logistics is a complex sort of business. Several firms have the false opinion that they can solve the logistical problem by making it simpler to the highest extent i.e., by developing a central warehouse, delivering goods within 48 hours to customers for a single fee and selecting a single logistics provider.
Introduction A concept of taste has been vividly discussed and explored since 18th century. Currently, modern viewers feel a great distance between their objects of admiration and the way producers or marketers have developed their creative strategies. A position of a modern audience is a position of an individual experienced in the estrangement.
Evolutionary psychology, for instance, is known for its immense contributions to our understanding of various behavioural mechanisms such as mating, courting, as well as parenting. Most of the initial research was focused on this branch of psychology which aimed at understanding the manner in which humans engage in acts of cooperation and the psychological mechanisms that propel such behaviour (Lopez, 2011).
The stores, each at 60,000 square feet, looked “cavernous warehouses” with empty boxes that tower high on the shelves (Our history, n.d., para. 1). In congruence with its vision as a one-stop shop to customers with do-it-yourself concept,
E-commerce has reduced costs and time spent of supply chain activities.
Electronic commerce is the use of technology to perform business process activities that entail the exchange of information, products and
various parameters, like, increasing visibility of existing business, improving relationship with existing customers and building a global base of customers, to reduction in costs of the business. The physical barriers, which constraint traditional business, disappear on the
To begin with, the firm is a crucial part of a large chain of supply. GM’s role in this supply chain and the scope of this supply chain is reflected in their annual $60 billion expenses in procurement, which makes the savings
ed about the importance of Internet in current market scenario and how the internet could be an essential strategy for an organizations to generate more revenues via supply chain or whole operation process of business. To generate more revenue an organization should implement
It is matter of fact that the use of cigarette either it is traditional or the modern e-cigarette, is harmful for the human health. Therefore, we cannot openly say that the use of cigarette will not affect the human health any
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic E two for FREE!