CAPS BS 10 TERM 2 WEEK 3 TOPIC – Business Opportunity and Related Factors

TOPIC – Business opportunity and related factors

• Development of a research instrument and the assessment of needs and desires
• Identification of possible business opportunities (based on researched needs and desires) and the application of a SWOT analysis (strengths, weaknesses, opportunities and threats) to determine a viable business venture
• Generating new ideas, needs analysis/ research, identifying good ideas, market research, SWOT analysis
— Research instruments and data collection (e.g. questionnaires, interview structures),
— Protocol of conducting research (consent, prior organisational appointments, introduction of basic ethics in research and in business opportunities)
— Definition of business opportunities (based on researched needs and desires) and strengths, weaknesses, opportunities and threats(SWOT)
— Application of SWOT analysis to assess business opportunities
— Analysis to determine a viable business venture
— Identification of business opportunities