GATPO, ELIZABETH A.

MARCH 20, 2023

BSIT 3-A SIR CHRISTIAN

1. Explain how “solving a problem” can create a business opportunity. Give an example.

 Consumers will constantly seek answers as long as they have problems. They will always look
for better, faster, and more intelligent ways to complete routine chores. Thankfully for
businesses, current items still have plenty of space for improvement. For example;
Problem: Overweight and Obesity
Opportunity: Exercise Classes, Weight Loss Diets, Larger Size Clothes, Diet Drinks or Foods

2. In what ways does an extensive social network provide an entrepreneur an advantage in

recognizing business opportunities?

 A social media account, such as Facebook or Instagram, provides an additional influence here,
particularly if your target customers are active. To enhance your posts on Facebook, you must
have a business account. Isn't it worth it at a cost of 50 pesos each boost that will reach about
2,000 people? Just establish a professional page or business account to represent your
company. We are no longer unaware of the importance of social media in reaching out to
consumers and selling here as well. I may not need to elaborate on this point because you are
most likely already aware of it. Let me simply mention the usage of several methods to assist
your items sell better on social media. The first is to change the look of your merchandise. It
should be well photographed or videotaped. The second step is to strategically arrange the
pricing and all the data to reduce client enquiries. Be certain that the posting of those facts,
particularly the manner of ordering, payment, and delivery, is obvious. Additionally, include
hashtags in your postings to help them rank higher in search results. Please keep in mind that
roughly 80% of the millennial and GenZ demographic is video focused. This is the most
successful method for attracting clients on social media.

3. Define creativity. How does creativity contribute to the opportunity recognition process?

 Creativity is described as the ability to develop or recognize ideas, alternatives, or possibilities

that may be valuable in solving issues, interacting with others, and amusing ourselves and
others. Creativity enables us to perceive and address challenges more honestly and
innovatively. Entrepreneurs must employ creative processes to perceive and implement new
ideas. One would think that creativity is a factor that has been thoroughly explored in a field
that focuses on uncovering new opportunities.