Subic Bay Colleges, Inc.

City of Olongapo

College of Hospitality and Tourism Management

Module for ENTREPRENEURIAL MIND

Prepared by:

Johann A. Muller, MBA

College Instructor, College of Hospitality and Tourism Management

Week 5 Opportunity Recognition, Assessment (Feasibility), and

 Exploitation

At the end of this module, you are expected to:

1. Define” What is an opportunity?”
2. Opportunity seeking sources
3. Discuss Sources of opportunity
4. Analyze Opportunity from environment
5. Identify what Start up is
6. Understand the importance of business model

What is an opportunity?
In a business sense, it is an idea that has commercial potential. Something you can make money
with, develop a business around it, or create value with it.

OPPORTUNITY SEEKING
Sources of Opportunity:
 Internal - Innovation / Creativity
 External - Macro market, Micro market Analysis, & Irritants in the marketplace

Irritants in the Marketplace

 Deterrents
 Delays
 Problems
 Complaints
Many Sources of Opportunity
1. Macro- Environmental Sources
2. Consumer Preferences, Piques & Perceptions
3. Industry & Market Sources
4. Talents, Hobbies, Interests, Skills, & Exposure”
5. New Knowledge
6. Opportunities from the Unexpected
7. Opportunities from the Future

Opportunity from Environment

Tools or Factors to Consider

  PESTE – Political, Economic, Social, Technological, Ecological
 STEER – Sociological, Technical, Economic, Ecological, Regulatory
 SWOT-Strengths, Weakness, Opportunities, Threats

Issue of Relevance – All of the Macro and Micro must be relevant / related to the Enterprise.

START-UP
Remember always:
o Start with the CUSTOMER NEEDS – Be sure there would be a large number who share the
same aspiration / frustration. The customer cannot be completely satisfied.
o There is no perfect product - Today’s winners can be tomorrow’s losers.
o “You and Your SKILLS YOU ARE THE INNOVATION!
o What TECHNOLOGY is available?

MINDSET IN STARTING S BUSINESS/ENTERPRISE

 Nothing is impossible
 I can do it
 I have what it takes
 If you build they will come
 It is doing what you love doing, even when it hurts

References and Supplementary Materials

Books and Journals
1. Jorge A. Camposano, CPA, MBA, Ph.D; 2007;Entrepreneurship for Modern
Business; Mandaluyong City; National Bookstore
2. N. A. Orcullo, Jr., Ph. D.; 2000; Contemporary Entrepreneurship; Mandaluyong City;
Academic Publishing Corporatio