L1 Flashcards
Opportunity Seeking
• the process of identifying and pursuing potential prospects that could lead to significant personal, professional, or business benefits.
• It involves recognizing gaps in the market, unmet needs, or new trends that can be leveraged for growth or innovation.
Entreprenurial Context
In entrepreneurship, opportunity seeking often translates to discovering new business ideas or niches.
Career Development
career professionals, opportunity seeking might involve looking for new roles, skill enhancements, or networking opportunities that can lead to career advancement.
Innovation
identifying areas where new technologies or methodologies can create value or improve efficiency.
Personal Growth
identifying opportunities for learning, personal development, or new experiences that align with personal goals.
Roles of opportunity seeking
Entreprenuership:
- Opportunity Recognition
- Innovation and Value creation
Career Development:
- Career Advancement
- Networking and Mentorship
Opportunity Recognition
adept at spotting opportunities that others may overlook. This involves recognizing market gaps, emerging trends, and consumer needs.
Innovation and Value Creation
drive innovation, creating new products or services that address identified needs
Career Advancements
Professionals who actively seek opportunities for growth—such as new roles, promotions, or skill development—are more likely to advance in their careers. This proactive approach helps individuals stay relevant and competitive.
Networking and Mentorship
Building a robust professional network can open doors to opportunities
Key Traits
- Curiosity
- Resilience
- Vision
Curiosity
A natural inclination to explore new ideas, technologies, and market trends.
Resilience
The ability to bounce back from failures and setbacks.
view challenges as learning opportunities rather than obstacles.
Vision
ability to see potential where others may not. Visionaries can foresee long-term impacts and opportunities that align with their goals or the needs of the market.
Skills
- Analytical Thinking
- Creativity
- Networking
- Risk Management
Analytical thinking
capacity to critically evaluate opportunities based on factors such as feasibility, market demand, and competition. This involves using data and insights to make informed decisions.
Creativity
ability to generate novel ideas and solutions. Creative thinkers are adept at finding unconventional ways to address problems or seize opportunities.
Networking
Building and maintaining professional relationships that can provide support, advice, and access to opportunities. Effective networking involves strategic relationship-building and leveraging connections.
Risk Management
skill to assess and mitigate risks associated with pursuing opportunities. This includes understanding potential pitfalls and developing strategies to manage uncertainties.
