Page 61 - Business Studies
P. 61
Business Studies for Secondary Schools
Chapter Five
FOR ONLINE READING ONLY
Business opportunity identification
Introduction
Every society faces challenges that can be transformed into business opportunities.
However, one must know how business opportunities are identified and determine
their potential to be successful businesses. In this chapter, you will learn about the
concept of business opportunity and ways of identifying business opportunities. The
competences developed will enable you to identify viable business opportunities in
your community and turn them into reality.
Think
A world without businesses addressing community needs and wants.
Activity 5.1
Look for challenges in your community and spot opportunities:
(a) List five common daily problems you or your friends and families face.
(b) For each problem, brainstorm one potential solution to address the problem.
The concept of business opportunity
A business opportunity is creating goods or services that people need or want in the
community. It is about identifying challenges or gaps in the community or market and
finding a way to solve them profitably. For example, imagine Ms Eline getting hungry,
and while looking around for something to eat, she realises there is no nearby seller of
the food she needs. This is a business opportunity for Ms Eline to open a food kiosk.
55 Student’s Book Form Two
03/10/2024 16:07
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Business Studies Form 2.indd 55
