Elements in Opportunity Assessment

1. Product or Service

- introducing a new product or service to the market

- can be a result of various creative ways of differentiating and existing product or

service
2. Market Opportunity

- refers to the appraisal of the characteristics of the market.
3. Costing and Pricing

- cost of production as well as the unit price of the commodity is very

important in the assessment phase.
4. Profitability

- an important motivation for venturing into business is to earn profit.
5. Resource Requirement

- inputs in the production process.

a. Intermediate inputs – raw materials that need further processing

b. factor inputs - processing inputs (labor, capital and technology)
6. Risk

- uncertain situations that can increase the probability of loss or failure of a

business venture ( ex. Internal and external risks)

please Answer

Using a Venn diagram, illustrate the different elements in opportunity assessment and explain the relationship of each element.​