Svuki’s Weblog

RUNNING A BUSINESS- SELECTING BUSINESS OPPORTUNITIES

Lesson 1 :

1.The 4 emerging opportunities for small businesses are:

  • high technology
  • Small Office Home Office
  • Aged services
  • Franchising

Explain what these 4 areas of opportunity are and why they need to be pursued as business opportunities?

2. Describe what the following factors are and explain why they are important when searching for business opportunities:

  • market research
  • location
  • demographics
  • competition
  • target market

_____________________________________________________________________________________

Lesson 2.

1.List as many factors that are responsible for small business success and failure in Australia.Place them in 2 columns,the right for sucesses and left for failures. Use the internet to research information.

2. Visit your local shopping or suburb and identify some of the best located shops.You may take  photos and show the class.You also need to explain why they have the best locations.

_____________________________________________________________________________________

Lesson 3:

In groups of three, brainstorm what business opportunities you reckon exist at Westmead.You need to provide justifications for why you think the business opportunity exits. You will need to present this to the rest of the class.You must include the following in your justification :

  • market research
  • location
  • demographics
  • competition
  • target market

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