Description of the General Industry and Market Domain:
The general industry that I have chosen is service industry as it’s a business opportunity
that many have not ventured in and have not seen more individuals being interested to venture
into in the near future. The business opportunity chosen in this context is opening of a restaurant
in the town which comprises of only a middle income people who have young families. The
main purpose of the company is to provide food services in the town as well catering services out
of town in parties, ceremonies and special occasions as the needs of the customers will be. The
reason behind this business proposal is due to lack of such services in the town and ones needed
clients spend a lot of money in acquiring those services from nearby town which many
customers complain of not reaching the required anticipated standards. Thus, the new restaurant
intends to provide timely services and quality services to the clients at a more reasonable cost.
The reasons behind choosing the business in place is that there is availability of both skilled and
non-skilled Labour which who are young men and women who will be ready to protect the
business as will be their source of employment for a long term as compared to other small
business enterprises which starts and collapses due to management issues.
The purpose of Module Eight is for students to examine their company to look for entrepreneurial opportunities. Whereas the discussion last week was on creating new value from within the parent organization, in this module the focus will be on seeking to spin off from the parent organization in order to use external means to take advantage of some market opportunity. In this module, the market opportunity will be assessed assuming a solution will be external to the parent organization, that is, an entrepreneurial activity not embedded within the parent organization but as a stand-alone business.
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