Assess global trends and opportunities for business ventures/products

ENT1 2.03

Sources of information about global trends and opportunities for business ventures/products

newspaperstrade publicationsresearch institutestraveltrade shows

Global trends 2014

Determine current global trends

Determine opportunities for venture/product creation Work Experience Educational Background Personal interests Experiences as a customer Unmet needs or problems Available / Needed resources Market structure Market Timing Conduct Research

Which of the following is a global trend that might encourage an entrepreneur to consider international business opportunities:

A. Higher allowances

B. Lower tariffs

C. Enforceable trade agreements

D. Flexible currency rates

Let’s Review

When determining venture-creation opportunities, entrepreneurs must first

A. obtain financing.

B. conduct research.

C. Identify staffing needs.

D. Select a location

Jessica's hobby is making jewelry. There is potential to sell her bracelets and earrings on eBay. This is an example of identifying a product opportunity by considering

A.demographic changes. B.business processes. C.consumer attitudes. D.personal experiences.