Discuss How You Would Create a Business Opportunity

question 13

Essay

Discuss how you would create a business opportunity. What are the factors to consider, the sources of information you would value, changes to take into consideration, and so on? How is this an opportunity versus an idea?

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Definitions:

Subcontracts

Secondary contracts made under the main contract, often used to delegate specific tasks or responsibilities to third parties.

Specific Goals

Clearly defined, measurable, achievable, relevant, and time-bound objectives that individuals or organizations aim to accomplish.

Cost Leadership Strategy

A business strategy aimed at becoming the lowest cost producer in an industry, often leading to competitive pricing.

Rivals

Individuals, teams, or entities competing against each other, striving for the same objective or superiority in the same field.