Question

Identify a list of three business opportunities in your environment and the need(s) each would satisfy. Indicate whether each opportunity you describe is internal, external, or a mix. Be certain to utilize course terminology to support your positions.

Answer 1

Identify a list of three business opportunities in your environment and the need(s) each would satisfy. Indicate whether each opportunity you describe is internal, external, or a mix. Be certain to utilize course terminology to support your positions.

1)Bakery- it would satisfy the need of fresh baked goods. This would be a mix of both if the person opening the business has a passion for baking and because there are no bakeries in the area that offers fresh baked goods.

2)Restaurant- it would satisfy consumer need of having a larger choice of places to eat in the area. This would be more external for the area since we have few restaurant choices but could also be a mixture if the person has a passion for cooking and wants to share that passion.

3)Pool Hall- This would satisfy the need of providing high school and college students to have a place to hang out after school or between classes. This would be external.

4)Skating Ring- This would satisfy the need for parents to have a place to bring their kids to enjoy themselves no matter what the weather condition is. This would be external.

5)Hotel- This would satisfy the need for visitors or travelers to have a place to stay when visiting or passing through. This would be external because the nearest hotel is

30 minutes away and when traveling I-59 there is a span of about 45 miles between towns that has a hotel. This would shorten that span to about 15 miles