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Describe a business (or other) opportunity before and after studying the relevant readings, and discuss the difference between the two descriptions.
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Shay J. P. (2003). Recognizing Opportunities, viewed at http://www.rockymountainbusiness.com/EntResources/ November 20, 2009.
Shay J. P. (2003). Marketing your new or existing small business, viewed at http://www.rockymountainbusiness.com/EntResources/ November 20 2009.
Ardichvili A., R. Cardozo, and R. Sourav (2003) A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing 18:1, 1 January. viewed November 20 2009
Scott S. (2000). Prior knowledge and the discovery of entrepreneurial opportu nities. Organization Science, 11(4). Retrieved viewed November 20 2009, 2009, from ABI/INFORM G lobal. (Document ID: 62064248).
Baron R. A. and M. D. Ensley, (2006). Opportunity Recognition as the Detection of Meaningful Patterns: Evidence from Comparisons of Novice and Experienced Entrepreneurs. Management Science; Sep, 52:9. viewed November 20 2009.
Timmons J. A. (2004) Opportunity recognition. Chapter 2 in The Portable MBA in Entrepreneurship edited by William D. Bygrave, Andrew Zacharakis, Wiley viewed November 20 2009.
Shay J. P. (2003) Business plans, viewed at http://www.rockymountainbusiness.com/EntResources/ November 20 2009.
Anonymous, (n.d.) MIT Center for Entrepreneurship viewed Novem ber 20 2009 at http://entrepreneurship.mit.edu/15975/info.php.
Anonymous. Business Plan: MIT Center for Entrepreneurship. Viewed November 20 2009 at http://entrepreneurship.mit.edu/15975/info.php
Anonymous (n.d.) Tutorial on The Business Plan viewed at http://www.myownbusiness.org/s2/index.html November 20 2009.
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Solution Preview
Business: Before and After
The Before
I have always wanted to operate a Web site on personal finance. The Web site offers membership in exchange for a fee. In return, members get accessed to personal finance seminars at a discount and virtual mentoring from me and other personal finance experts and financial planners. Moreover, members will get weekly digest on everyday experiences related to personal finance including struggles and success stories of their fellow members.
In other words, the personal finance Web site serves to help ordinary people be more aware of their personal finances and at the end of the day, accumulate knowledge and skills such that their financial life ceases to be a struggle. In turn, they can focus their energy in enjoying their life and loving their family or be better in their hobbies.
The most recent financial crisis brought personal finance to the fore, once again. A lot of people were caught unawares by the inability of their finances to absorb disruptions brought about by the mortgage crisis. For example, someone who genuinely believed he or she has a stable and secure job suddenly finds him or herself on the streets with no job and only a couple of hundred dollars in the bank and with the house monthly amortization due …
