Entrep 2.2. S3
Entrep 2.2. S3
Entrep 2.2. S3
Opportunity
CHAPTER 2.2
Owner: Jacel Gadon
• Opportunity seizing is the last step in
opportunity spotting should and
assessment. This is the "pushing
through" with the chosen
opportunity.
Entrepreneurs should make the best
out of this opportunity, and they
should exert effort and full
dedication for the success new
venture. The entrepreneur's idea can
be any type of innovations listed
here.
• Innovation is the process of positively
improving an existing product or
service.
Three types of innovations according to the
degree of distinctiveness.
• Breakthrough innovation. These innovations, which may also include
inventions, occur infrequently as these establish the platform on which future
innovations in an area are developed.
• 4. Test marketing stage. This stage validates the work done from the
first three stages to measure success in the commercialization of the
product or service. Actual sales results will be the foundation of the
consumers' acceptance level and will be the basis in commercializing
the product or service.
• 5. Commercialization stage. This
stage is also called the launch stage.
While the product has now begun to
be distributed and sold, these may be
done on a limited basis. People
involved in this stage ensure that the
goals of the product/service
development process are achieved and
are in line with the business plan.