Sources of business opportunity

Question 1

1. Market opportunities as a source changes.

Answer 1

when markets change potential proprietors could get potential business ideas if they take advantage of these changes.

Question 2

2. Changing customer needs as a source of business opportunity:

Answer 2

When the needs of customers’ change potential proprietors could start a business that sells products according to these changing needs of customers for pent-up demand and as a result, a more profitable business has been created.

Question 3

3. Innovation as a source of business opportunity:

Answer 3

When potential proprietors are innovative they might get a competitive advantage.

Question 4

2. Explain the source of business opportunity that relates to your business that you completed as part of
   the Online Social Enterprise Business (OSEB) project.

Answer 4

Changing Customer Needs -
1. Tutoring business
- Many people demand for tutoring
- Profitable business
- Pent-up demand