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Opportunity Recognition

Opportunity Recognition. Problems: A problem that needs to be solved by a service or product Changes: A change in trends, laws, customs, etc. that produces a new need or want New Discoveries: Creation of a totally new product or service

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Opportunity Recognition

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  1. Opportunity Recognition • Problems: A problem that needs to be solved by a service or product • Changes: A change in trends, laws, customs, etc. that produces a new need or want • New Discoveries: Creation of a totally new product or service • Existing Products or Services: Improve on what’s already out there • Unique Knowledge: One-of-a-kind experiences or uncommon knowledge that YOU have

  2. Bellringer • Label each of the examples on the back of your papers with the number that corresponds with the correct opportunity recognition description.

  3. Check Your Answers! • Problem (1): Traffic Congestion-It continues to worsen as population grows • Change/Trend (2): Eco-friendly business practices; they are becoming more widespread as customer demand increases • New Discovery (3): Wireless internet; it is replacing wired connections • Existing Products/Services (4): iPod; constantly improving and changing (4, 4s, 5, 5s…) • Unique Knowledge: Facebook; orginally required access to college student body to create

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