(NAME OF BUSINESS)?

(NAME OF BUSINESS)?
INTERNAL “OPPORTUNITY” PERSONAL
ASSESSMENT
Assessment Plan
An opportunity assessment plan is a strategic
document or framework that organizations use to
evaluate and analyse potential opportunities for
growth, expansion, or improvement.

This plan helps businesses make informed decisions

about whether to pursue specific opportunities, how to
prioritize them, and what actions to take to capitalize
on them.
Components in creating an opportunity
assessment plan:
Identification of Opportunities:
The first step is to identify and
define potential opportunities.
These opportunities can vary
widely and may include market
expansion, product
development, cost reduction,
partnerships, mergers and
acquisitions, and more.
Feasibility Study: Determine the
feasibility of pursuing the
opportunity. Assess whether the
organization has the necessary
resources, capabilities, and
expertise to exploit the
opportunity effectively.
Market Research: Conduct thorough
research to gather data and insights
about the identified opportunities.
This can involve analysing market
trends, customer needs, competitive
landscape, regulatory changes, and
other relevant factors.
SWOT Analysis: Perform a SWOT
(Strengths, Weaknesses, Opportunities,
Threats) analysis to assess the internal
and external factors that may impact
the success of the opportunity. This
helps in understanding the
organization's current position and its
ability to leverage the opportunity.
Components in creating an opportunity
assessment plan:
Risk Assessment: Identify and
evaluate potential risks associated
with the opportunity. This includes
financial risks, operational risks,
legal and regulatory risks, and any
other relevant concerns.
Strategic Fit: Assess how the
opportunity aligns with the
organization's overall strategic
goals and objectives. Determine
whether it complements the
existing business or requires a
shift in strategy.
Financial Analysis: Estimate the financial
implications of pursuing the
opportunity. This includes projecting
revenues, costs, profitability, and return
on investment (ROI).
Resource Allocation: Decide on the
allocation of resources, including
budget, manpower, and technology,
required to pursue the opportunity.
Action Plan: Develop a detailed action
plan that outlines the steps, timelines,
and responsibilities for implementing
the opportunity. This plan should also
include key performance indicators
(KPIs) to measure progress and success.
Components in creating an opportunity
assessment plan:
Decision Making: Present the
opportunity assessment plan to
relevant stakeholders, such as
executives or the board of
directors, for decision-making. This
may involve seeking approval or
funding for the opportunity.
Implementation: If the opportunity is
approved, execute the action plan
and monitor progress closely.
Continuous Evaluation: Continuously
evaluate the opportunity's
performance against the
established KPIs. Make adjustments
and adaptations as needed to
ensure success.
Exit Strategy: Develop a contingency
plan or exit strategy in case the
opportunity does not yield the
expected results or if circumstances
change.