Session 5

Entrepreneurship

Strategies That Capture

Business Opportunity

Ms. Vihara Jayakody

Department of Computer Science and Informatics
Faculty of Applied Sciences
Characteristics of Good Business Opportunity
Strategies for Analyse Business Opportunities

1. Preference and Familiarity Method

2.Write 10Screening
Macro business opportunities
Method that can
3.be identified from
Micro Screening your environment.
Method
4. SWOT Analysis
Strategies for Analyse Business Opportunities

1. Preference and Familiarity Method

Write 10 abusiness
Identity opportunities
business idea that canand
based on the preference
be familiarity
identified from
of the your
business environment.
opportunity.
Strategies for Analyse Business Opportunities

2. Macro Screening Method

Screen
Write the business
10 business ideas according
opportunities that to
canthe
be identified from and
investment capacity your environment.
objectives.
Strategies for Analyse Business Opportunities
3. Micro Screening Method
Deeply examine the potentiality of the business ideas by
Write 10 business opportunities that can
considering,
beoidentified
Availability from your environment.
of a market o Ease of operating
o Access to raw materials o Low risk
o Access to technology o Profitability
o Availability of skilled labour o Benefits on cost
o Governmental priorities
Strategies for Analyse Business Opportunities

4. SWOT Analysis

In this
Write 10analysis,
business it identifies the strengths,
opportunities thatweaknesses,
can
beopportunities
identifiedandfrom your
threats environment.
of the business idea.
Strategies for Analyse Business Opportunities
4. SWOT Analysis
Strengths are under the control of the entrepreneur
(internal) and they are already existing. These strengths
Write 10 business opportunities that can
give positive impacts to the business and by developing
be identified from your environment.
strengths entrepreneurs can neglect the weaknesses.

E.g.: Management competencies, family support, healthy

relationships with bankers and others, knowledge about
the relevant field
Strategies for Analyse Business Opportunities
4. SWOT Analysis
Weaknesses are also existing factors and they impact

Write 10 business
negatively opportunities
on the business. that
Entrepreneurs cantry
should to
beavoid
identified from your environment.
weaknesses.

E.g.: Lack of practical knowledge, weak financial

management, lack of knowledge on marketing researches,
working capital issues
Strategies for Analyse Business Opportunities
4. SWOT Analysis
Opportunities are the positive factors of the external

Write 10 business
environment which opportunities
are not under that
controlcan
of the
beentrepreneur.
identified fromBy your environment.
capturing good opportunities
entrepreneurs can uplift the business.

E.g.: Increasing demand, weak competitors

Strategies for Analyse Business Opportunities
4. SWOT Analysis
Threats impact negatively to the business and they are

Write 10 business
external opportunities
factors. Threats cannot be thatcontrol
can but
beentrepreneurs
identified should
from have
yourtheenvironment.
ability to avoid threats.

E.g.: High interest rates, low infrastructure facilities,

unstable economic conditions
 Getting Legal Protection for a Creative Business Idea

Patent Rights

Patent is the government certification given for a new invention.

A new invention can be a/an,

• new product

• new machine

• new process

• combination of above factors

• improvement to an existing invention

 Getting Legal Protection for a Creative Business Idea

Patent Rights
The validity period of patent is 20 years.

If required, the patent right can be sold to another person.

Then the right passes to the person who buys it.

Strategies for Analyse Business Opportunities

Now screen your 5 business opportunities using the

above mention methods and identify the best business
opportunity.
Thank you..