Welcome to The

Presentation
UNIT 27 – IDENTIFYING ENTREPRENEURIAL OPPORTUNITIES
LONDON CHURCHILL COLLEGE
Student ID:
 Introduction

We are going to talk about different entrepreneurial ideas and approaches

that are committed to serve organisations the best models and solutions to
thousands of organisational problems. These theories and approaches are
being used all over the world business. Some situations are related to
Thirdway Interiors thus they are a very well reputed organization who
adapts so many ideas. The usefulness of these particulars are unavoidable.
At the same time, the must deed is to measure and cut out the drawbacks.
 TASK 1

LO1: Evaluate possible sources for a new and innovative

business idea
P1: Determine and evaluate different sources of entrepreneurial
ideas and innovation
Socio- Cultural Technological Economic

Environmental Political

Figure: STEEP Factors

Source: Self
 Incremental
Product Innovation Process Innovation
Innovation

Schumpeter’s
Big Bang
Sources

Figure: Different Kinds of Innovation

Source: Self
M1: Provide a detailed evaluation of Drucker’s 7 sources of
systematic innovation providing
specific examples
 The
unexpecte
d
The
Changes in
perception… incongruit
y
New
Knowledg
e

Demograp Process
hic Need

Industry &
Market…

Figure: Drucker’s 7 Sources of Innovative Opportunity

Source: Self
D1: Critically evaluate the benefits and drawbacks of different
approaches and sources that
can lead to the identification of entrepreneurial ideas
 Personal situational Invention/Innovatio
Personal Capacity
factors n

External Sources Business Ideas

Figure: Different Sources and Approaches

Source: Self
 Conclusion

This presentation showed that business needs to evaluate, identify,

analyze, and adapt some important entrepreneurial approaches and
theories. The Drucker’s seven factors, external factors, all kind of changes
among these factors that are putting impact have been described well to
understand everything and sort out what to do for what and what not to do
to avoid threats. The personal factors, leaderships also talked about
individual characteristics lied on a business. The importance should be
given and the situation should be measured out.
References
1. Balasubramanian, S. (2013). The art of business leadership. Los Angeles [Calif.]:
Response Books.
2. FREEBORN, R. (2019). STEEP. [Place of publication not identified]: DYNASTY Press
LTD.
3. Globerman, S. and Lybecker, K. (2013). The benefits of incremental innovation.
4. Invention & innovation. (2012). London: Elton Engineering Books.
5. JOHNE, F. (2018). INDUSTRIAL PRODUCT INNOVATION. [Place of publication not
identified]: ROUTLEDGE.
6. Rigotti, L., Ryan, M. and Vaithianathan, R. (2013). Entrepreneurial innovation.
Berkeley: Institute of Business and Economic Research.
7. Schumpeter, J. and Flumiani, C. (2012). The theory of innovation and economic
evolution.