CHAPTER 2: OPPORTUNITY SEEKING,

SCREENING, AND SEIZING

OPPORTUNITY SEEKING
• Entrepreneurs are innovative opportunity
seekers. They have endless curiosity to discover
new or different ideas and see whether these
ideas will work in the marketplace.
• This is what separates entrepreneurs from the
ordinary businessman whose main objective is
simply to earn profits from producing, buying,
and selling goods.
OPPORTUNITY SEEKING
• Entrepreneurs create value by introducing new
products or services or finding better ways of making
them. These may include innovation in terms of product
design or addition of new product features to existing
ones.
• They may also tinker on improving their operational
capability by employing new technologies that will bring
them greater efficiency, better economies, and even
enable them to reach unparalleled superiority.
OPPORTUNITY SEEKING
• They may also consider expanding their reach by
creating new markets or maximizing existing
market reach.
• Entrepreneurs may totally change the prevailing
business paradigm by rendering it obsolete
through the introduction of disruptive
technologies, processes, and systems.
ENTREPRENEURIAL;
PART
01
Mind Frame

PART
02 Heart Flame

PART
03 Gut Game
ENTREPRENEURIAL MIND FRAME
• Allows the entrepreneur to
see things in a very positive
and optimistic light in the
midst of crisis or difficult
situations. Instead of being
discouraged, the
entrepreneur is able to use
these problematic situations
as inspiration in creating
something inovative.
Facts & Trivia
In Chinese writing,
the word crisis is
composed of two
characters.

The first character

means danger while the
second character means
opportunity.
ENTREPRENEURIAL HEART FLAME
• If there is one commonality
between an inventor and an
entrepreneur, it is their
surging passion or the
entrepreneurial heart flame.
• Driven by passion, they are
drawn to find fulfillment in
the act and process of
discovery.
ENTREPRENEURIAL HEART FLAME
• Passion is that great desire to attain a vision or
fulfill a mission. It is about wanting something so
much that a person would be willing to totally
devote one's self to the quest.
• Despite several setbacks or disappointments, the
entrepreneur is not easily disheartened, but is
rather driven to persevere even more.
ENTREPRENEURIAL HEART FLAME
• The hear flame is also about emotional
intelligence or EQ, which is often
manifested in the entrepreneur's
efforts to nurture relationships with
customers, employes, and suppliers.
• The entrepreneurs also looks after the
interests of his or her people by
motivating and encouraging them to
be the best they can become.
This creates a caring culture within the organization that brings
about synergy among the people working toward a common vision.
ENTREPRENEURIAL

GUT
GAME
ENTREPRENEURIAL GUT GAME
• This refer to the ability of
the entrepreneur to sense
without using the five
senses.
• This is also known as
intuition.
ENTREPRENEURIAL GUT GAME
• The entrepreneur just knows whether something
will work or not without necessitating logical,
systematic, and sequential thinking.
• The gut game also connote courage or, in the
local dialect, “lakas ng loob” (strong intestinal
fortitude). It is simply confidence in one's self and
the firm belief that everything is within reach so
long as you aspire fore it.
THE MANY SOURCES OF OPPORTUNITIES
• There are many ways to uncover or
discover opportunities. Some have to do
with looking at the big picture and
noticing emerging trends and patterns.
• Others have to do with finding out what
specific customer segments are being
targeted in the marketplace.
• Others come from new technologies and
new knowledge.
 MACRO ENVIRONMENTAL SOURCES OF
OPPORTUNITIES
• The macro environment refers to the “big or
macro forces” that affect the area, the
industry, and the market, which the enterprise
belongs to.
• They influence how business should be
conducted, how consumers will behave, how
supply and demand will move, how different
competitors would position themselves, and
how the cost of doing business will proceed.
MACRO ENVIRONMENTAL SOURCES OF
OPPORTUNITIES FIVE CATEGORIES

Socio-Cultural Environment
Political Environment
Economic Environment
Ecological Environment
Technological Environment
SOCIO-CULTURAL ENVIRONMENT
• Includes the demographics and cultural
dimensions that govern the relevant
entrepreneurial endeavor.
• Taking this aspect into consideration helps the
entrepreneur assess the trends and dynamics of
the bigger consumer population, their beliefs,
tastes, customs, and traditions. It looks like
social structure and shifts in social status and
behavior.
POLITICAL ENVIRONMENT
• It defines the governance system of the country
or the local area of business. It includes all the
laws, rules, and regulationsthat govern business
practices as well as the permits, approvals and
licenses necessary to operate the business.
POLITICAL ENVIRONMENT
• It regulates the use of natural resources; the
disposal of wastes; the taxation of income; the
importation of goods and services; the
accounting and reporting of business financial
statements; public and private education; health
programs; use of public funds; and other such
concerns. It includes the establishment of vital
infrastructures, logical access, and inventions
that affect the cost of doing business.
ECONOMIC ENVIRONMENT
• Supply and demand forces mainly drive the
macro economic environment. They are the same
factors that drive the interest and foreign
exchange rates that fluctuate with the movement
of the market forces.
• In any country, the income levels and the
purchasing power of its people as well as the
competitiveness (or uncompetitiveness) of its
industries and enterprises are sources of
opportunities.
ECONOMIC ENVIRONMENT
• In any opportunity, there is always a threat that
lurks behind it. In this case, the entrepreneur
must be able to think critically through each and
every single economic event that impacts hir or
her enterprise.
ECOLOGICAL ENVIRONMENT
• Includes all natural resources and the
ecosystem, habitat of men, animals, plants, and
minerals.
• The threats of this factors have generated
countless opportunities such as smoke and spill
detectors, filters and screens, pollution counters,
and energy-saving devices. Opportunities
abound for greener, cleaner, and healthier
products, whose objectives are to save planet
and prolong lives.
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 nightmares.
• The entrepreneur is left with no choice but to invest in
new technologies in order to keep up with
competition.Technology does not only come in the form
of advanced machinery or equipment, but it can also
be in the form of new systems, new processes, or new
products.
Examples of Relevant Opportunities and
Threats to a Fast Food Chain
Factors Opportunities to Threats to the
the Enterprise Enterprise
1. Social
• Increasing double • Increased customer
income earners in base for the fast
the family (i.e., food chain
mother and father • More healthy
are both working) product offering
• Trend toward are demanded by
healthier food customers
choices
2. Political
• Tax exemption for • Increased
13th month pay and purchasing power
other bonuses up to of the consumers
P70,000.00 passed leading to higher
by Congress retail sales
3. Economic
• ASEAN Integration • Opportunity for the • Smaller suppliers'
in 2015 (countries enterprise to difficulty coping
that belong to expand to other with greater
ASEAN trading at ASEAN markets competition posed
zero tariff) by foreign rivals;
might lose small but
reliable suppliers
4. Ecological
• Increased usage of • Opportunity to start • Additional costs
eco bags and an advocacy toward incurred by new
environment- a 'greener' packaging may
friendly containers operation (not decrease
limited to usage of profitability
eco-friendly
containers
5. Technological • Potential for online
• Increased usage of • Greater usage of customer
disappointments and
smartphones to apps to place
netizen bashing due to
disseminate delivery orders via poor product/service
important smartphones, which delivery brought about
information (e.g., may help increase by intermittent technical
news, weather etc. market reach glitches
THANK
YOU !