UNIT 3

o Opportunity Seeking
o Opportunity Screening
o Opportunity Seizing
OPPORTUNITY SEEKING
• The ongoing process of considering,
evaluating, and pursuing market-based
activities that are believed to be
advantageous for the firm
• Calls for continuous reconsideration and
adaptive learning
• The endless curiosity of discovering,
finding, and trying a set of new and
different ideas, and see if it will work in the
marketplace
ENTREPRENEURIAL MIND
FRAME
• Allows the entrepreneur to see
things in a very positive and
optimistic light in the midst of crisis
or difficult situations
• Uses problematic situations as
inspiration in creating something
innovative
ENTREPRENEURIAL HEART FLAME
• The entrepreneur is driven by
passion and is drawn to find
fulfilment in the act and process of
delivery
• Despite several setbacks or
disappointments, the entrepreneur is
not easily disheartened but is rather
driven to persevere even more
• Emotional intelligence or EQ
ENTREPRENEURIAL GUT
GAME
• Ability to sense without using
the five senses; aka intuition
• This also connotes courage or,
in the local dialect, “lakas ng
loob”.
MACRO ENVIRONMENT SOURCES OF
OPPORTUNITY
MACRO ENVIRONMENT – big or macro forces
that affect the area, the industry, and the market.
They influence:
• How business should be conducted;
• How consumers behave;
• How supply and demand will move;
• How different competitors would position
themselves; and
• How the cost of doing business will
proceed
MACRO ENVIRONMENT FORCES
1. Socio-Cultural Environment
• Demographics and cultural dimension that
govern the relevant entrepreneurial
endeavor.
• Helps the entrepreneur assess the trends
and dynamics of the bigger consumer
population, their beliefs, tastes,
customs, and traditions.
• Looks at social structure and shifts
in social status and behavior.
MACRO ENVIRONMENT FORCES
2. Political Environment
• Governance system of the country or the
local area of the business including all the
laws, rules, and regulations that govern
business processes.
• Regulates political concerns, and as well
includes the establishment of vital
infrastructures, logistical access, and
interventions that affect the cost of doing
business.
MACRO ENVIRONMENT FORCES
3. Economic Environment
• Supply and demand mainly drive the
macroeconomic environment because these
maneuver the interest and foreign exchange
rates that fluctuate with the movement of the
market forces.
• In any country, the income level and the
purchasing power of its people as well as
the competitiveness of its industries and
enterprises are sources of
opportunities.
MACRO ENVIRONMENT FORCES
4. Ecological Environment
• Natural resources and the ecosystem,
habitat of human, animals, plants, and
minerals, hence, the growing awareness
of the world makes this factor more
important.
MACRO ENVIRONMENT FORCES
5. Technological Environment
• New scientific and technological
discoveries lead to the launch and
commercialization of new products with
superior attributes or rendering the old
ones obsolete.
INDUSTRY SOURCE
• Production of goods and/or related services
within an economy
• Analysis of industry structure and
dynamics yields opportunities for the
clever entrepreneur, thus, situating an
enterprise within the realm of an
industry provides many profitable
opportunities.
MARKET SOURCE
• Can be discovered from increased or
decreased demand as well as higher or
lower supply
• Market trend analysis can also be
conducted.
MICRO MARKET
• Specific target market of a particular
enterprise/business
• Target consumers that represent the
immediate customers of a product/service,
or those who are currently
buying/patronizing the
products/services offered.
CONSUMER PREFERENCES, PIQUES,
AND PERCEPTIONS
• Tastes of particular groups of people
• The consumers’ age, culture, gender, and
status affect their preference.
Activity No. 2: Challenge
Yourself
• Will be posted in Ms Teams after the discussion
• 40 points
• Deadline will be on April 24, Saturday 6 PM