2.
POLITICAL ENVIRONMENT
ENTREPRENEURSHIP
CHAPTER 2: OPPORTUNITY SEEKING,
SCREENING AND SEIZING
 OPPORTUNITY SEEKING
-Entrepreneurs are innovative opportunity seekers
-Entrepreneur create value by introducing new
products or services
3 ESSENTIAL TO AN ENTREPRENEURIAL’S
OPPORTUNITY:
ENTREPRENEURIAL MIND FRAME, HEART
FLAME AND GUT GAME
 ENTREPRENEURIAL MIND FRAME
-Allows the entrepreneur to see things in a very
positive and optimistic light amidst of crisis or
difficult situations.
 ENTREPRENEURIAL HEART FLAME
-Commonality between an inventor and
entrepreneur
 ENTREPRENEURIAL GUT GAME
-This refers to the ability to the entrepreneur to
sense without using the five senses. This is also
known as intuition.
THE MANY SOURCES OF OPPORTUNITIES
There are many ways to uncover or discover
opportunities, some have to do without looking
at the bigger picture and noticing trends and
patterns.
MACRO ENVIRONMENT SOURCES OF
OPPORTUNITIES
-Macro environment refers to the “big or macro
forces’’ that affect the area, the industry, and
the market.
1. SOCIO CULTURAL ENVIRONMENT
-includes the demographic and cultural
dimensions that govern the relevant
entrepreneurial endeavor.
-Defines the governance system of the country
or the local area of the business. It includes all
the laws, rules and regulations that govern
business practices as well as the permits and
licenses necessary to separate the business.
3. ECONOMIC ENVIRONMENT
-Supply and demand forces
-Mainly drive the macro environment. They are
the same factors that drive the interest and
foreign exchange rates that fluctuate with the
movement of the market forces.
4. ECOLOGICAL ENVIRONMENT
-includes all the natural resources and the
ecosystem, habitat of men, animals, plants,
minerals.
5.TECHNOLOGICAL ENVIRONMENT
-New scientific and technological discoveries,
which often lead to the launch and
commercialization of new products with
superior attributes or to rendering the old ones
obsolete, are the entrepreneur’s nightmare.
INDUSTRY SOURCES OF OOPORTUNITY
2 biggest sources of opportunities:
 Industry
 Market
-one of the most difficult aspects about industry
analysis is defining what constitutes an industry
in the first place.
PARTICIPANTS IN AN INDUSTRY INCLUDE:
1.Rivals or competitors
2.Suppliers of input to rivals
3.Consumer market segments
4.Substitute products or services
5.Another support and enable industries