Lesson: Industry and Environmental Analysis: Identification of Business Opportunity:Types of Industries and Business Opportunity Flashcards
Types of Industries:
Agribusiness
Manufacturing
Retail and Services
International Trade
Earns most or all of its
revenues from agriculture.
A large-scale business operation and may experiment in farming, processing and manufacturing and or the packaging and distribution of products.
Agribusiness
List of Agribusiness in the Philippines:
Hog Raising
Poultry Raising
Cattle Raising
Goat Raising
Rice Farming
Vegetable Farming
Fish Pens
Corn Farming
Process of converting raw materials, components, or parts into finished goods that meet a customer’s expectation or specification
Commonly employs a man-machine setup with division of labor in a large scale production.
Manufacturing
Some of the best small manufacturing ideas
that can carried out at your home include:
Furniture Making
Drinking Water Business
Soap Manufacturing Business
Commercial Bread Baking
Manufacturing the Future
Findings indicate the following points:
Manufacturing role is changing.
Manufacturing is not Monolithic.
Manufacturing is entering a dynamic new -phase.
The process of selling consumer goods or services to customers through multiple channels of distribution to earn profit.
Retail and Services
Types of Retail Products:
Food Products
Hard goods or durable goods hardline retailers
Soft goods or Consumables
Arts
Typically require cold storage facilities.
Food Products
Goods that do not quickly wear out and provide utility over time.
Hard goods or durable goods hardline retailers
Goods that are consumed after one use or have a limited period in which you may
use them.
Soft goods or Consumables
Contemporary art galleries, bookstores, handicrafts,musical instruments, gift shops and supplies for them.
Arts
Is the exchange of capital, goods, and services across international borders
or territories, which could involve the activities of the government and
individual.
International Trade
The careful study of various factors influencing the business.
The process by which organization monitor their relevant environment to identify opportunities and threats affecting the business.
Environment Analysis
Objectives of Environment Analysis:
To understand Current and Probable Change in Environment.
To provide input for Decision-Making
To ensure optimum utilization of resources
To identify the threats and opportunities of environment
To identify strength and weakness of the business
To diversify the business in new areas and to keep the business dynamic
To foresee the impact of various helps the organization of business environment
Process of Environment Analysis:
Monitoring
Searching and Scanning
Forecasting
Evaluation and Assessment
It means to understand the various environmental factors which affect the business and to identify published or unpublished sources of information which affects business.
Monitoring
Even when the sources required information exists. These may not be readily available.
Searching and Scanning
Estimation of direction and intensity of change in environment factors.
Forecasting
Answer to the key issue presented by the environment and their impact on business.
Evaluation and Assessment
Techniques of Business Environment Analysis:
Executive Opinion Method
Expert Opinion Method
Delphi Method
Economic Indicator Analysis Method
Past Projection Method
Statistic Methods
Scenario Development Method
Brainstorming
is based on opinion and views of top executives
Executive Opinion Method
Business forecast is based on the opinion of
outside experts
Expert Opinion Method
Used to consolidate the different expert opinions so as to reach a common estimate.
Delphi Method
Forecasting is based on certain indicators affecting business units.
Economic Indicator Analysis Method
Past events will have their impact on the future
Past Projection Method
Are more scientific and estimates made through these methods are more reliable.
Statistic Methods
Is a popular method of forecasting when it is possible to make a precise forecast of the future.
Scenario Development Method
Used to generate new, innovative and unique ideas and forecast.
Brainstorming
The SWOT Techniques:
Strengths
Weaknesses
Opportunities
Threats
Characteristics of a business or project that give itan advantage over others.
Strengths
Characteristics that place a business at a disadvantage relative to others.
Weaknesses
Elements that a business or project could exploit to its advantage.
Opportunities
Elements in the environment that could cause trouble for a business or project.
Threats
Internal factor
4Ps - Price, Product, Promotion and Place
External Factors
Macroeconomic matters, like
Technological Change, Legislation and Sociocultural Change
Identification of Business Opportunities:
Create a list of potential small business opportunities in the Philippines and choose your top three.
Assess and choose your number one from the list.
Consider Franchising
How to identify Business Opportunities:
Study Demand and Supply Gap
Study Import- Export Movements
Capitalize on Available Resources
Adapt, Complement, Reshape
Explore Forward-Backward
Industry Linkages
Screen and Select the Best Investment Alternative
