Opportunity Recognition: Ron Beraha

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Opportunity Recognition: Ron Beraha

  1. 1. Opportunity Recognition Models & Tools Ron Beraha
  2. 2. Objectives <ul><li>Understand what is an opportunity </li></ul><ul><li>Basic exposure to useful tools </li></ul><ul><li>References </li></ul><ul><ul><li>Competitive Strategy, Michael Porter, HBS </li></ul></ul><ul><ul><li>Strategic Management, Pearce/Robinson </li></ul></ul><ul><ul><li>Build to Last, Jim Collins, Jerry Porras </li></ul></ul><ul><ul><li>The Innovator’s Solution, Clayton Christensen, HBS professor </li></ul></ul>
  3. 3. Outline <ul><li>What is an opportunity? </li></ul><ul><li>The 6Ws </li></ul><ul><li>Tools </li></ul><ul><ul><li>SWOT </li></ul></ul><ul><ul><li>Value chain Analysis </li></ul></ul><ul><li>How could you miss an opportunity? </li></ul><ul><li>Opportunity is NOWHERE </li></ul><ul><li>How would YOU read the following: </li></ul>
  4. 4. What is an Opportunity <ul><li>Customer & Market opportunities </li></ul><ul><li>A problem as an opportunity </li></ul><ul><ul><li>Un-served consumer needs </li></ul></ul><ul><ul><li>Products or services to improve people’s lives </li></ul></ul><ul><ul><li>Annoying problems people have. </li></ul></ul><ul><li>Imagine new products and services that could be solutions… </li></ul><ul><li>Ask yourself… </li></ul><ul><ul><li>What would I like to buy that I can never find? </li></ul></ul><ul><ul><li>What product or service would improve my life? </li></ul></ul><ul><ul><li>What product or service would help me? </li></ul></ul>
  5. 5. How is an Opportunity Created? <ul><li>Behavior changes </li></ul><ul><ul><li>Mobility </li></ul></ul><ul><li>Technology advances </li></ul><ul><ul><li>Internet </li></ul></ul><ul><li>Regulations </li></ul><ul><ul><li>Post 9/11 </li></ul></ul><ul><li>AND - Beating the competition on price, features, quality </li></ul>
  6. 6. Examples <ul><li>Polaroid </li></ul><ul><li>Records </li></ul><ul><li>Movies </li></ul><ul><li>Telephone line </li></ul><ul><li>More… </li></ul><ul><li>Future??? </li></ul><ul><li>Digital Camera </li></ul><ul><li>CDs </li></ul><ul><li>DVDs </li></ul><ul><li>Cable </li></ul><ul><li>Suggestions </li></ul><ul><li>Live long enough </li></ul>
  7. 7. The 6 Ws <ul><li>What is the opportunity? </li></ul><ul><ul><li>Developing and selling a product X to market Y </li></ul></ul><ul><li>How Much? </li></ul><ul><ul><li>Penetration rate </li></ul></ul><ul><ul><li>TAM – Total Available Market </li></ul></ul><ul><ul><li>Market share </li></ul></ul><ul><li>When? </li></ul><ul><ul><li>The window of opportunity </li></ul></ul>
  8. 8. The 6 Ws - cont <ul><li>Why? </li></ul><ul><ul><li>Better understanding of Global Trends </li></ul></ul><ul><li>Who are involved? </li></ul><ul><ul><li>Target market, partners, key players </li></ul></ul><ul><li>Where? </li></ul><ul><ul><li>Geographically </li></ul></ul>
  9. 9. Market Dynamics The Geographical Aspect
  10. 10. The SWOT Tool <ul><li>The tool is used to analyze a new business direction, a change in strategy, new initiative or foundation of a new company </li></ul><ul><li>The tool is based on the fit between internal resources (strengths & weaknesses) and external situation (threats & opportunities) </li></ul><ul><ul><li>Strengths – expertise, market share, size etc. </li></ul></ul><ul><ul><li>Weakness – financial limitation, no market traction, undeveloped sales channels etc </li></ul></ul><ul><ul><li>Opportunities – Trends, Technology Change </li></ul></ul><ul><ul><li>Threats – Slow market Growth, Increase Consumer Power </li></ul></ul>
  11. 11. How could you miss an Opportunity? <ul><li>View Problem as a PROBLEM & NOT as an OPPORTUNITY </li></ul><ul><ul><li>No one answers the phone  Call Answering/ Voice mail </li></ul></ul><ul><ul><li>Chained to wired communication  Wireless </li></ul></ul><ul><ul><li>Expensive call  VoIP, Skype </li></ul></ul>
  12. 12. Summary <ul><li>Key Success Factors in Opportunity Recognition </li></ul><ul><ul><li>View a Problem as an Opportunity </li></ul></ul><ul><ul><li>Positive Attitude </li></ul></ul><ul><ul><li>Understand the external environment </li></ul></ul><ul><ul><ul><li>Apply analysis tools – 6Ws, SWOT </li></ul></ul></ul><ul><ul><ul><li>Timing is everything </li></ul></ul></ul><ul><ul><li>Luck Helps </li></ul></ul>
  13. 13. Background <ul><li>BridgeGap Strategic Services – Founder </li></ul><ul><ul><li>Providing Strategic Growth Advice </li></ul></ul><ul><li>Moon’s Tail Enterprises – CEO </li></ul><ul><ul><li>Real Time Data Synchronicity </li></ul></ul><ul><li>DGA Corporation – CEO </li></ul><ul><ul><li>SAP Application Customization </li></ul></ul><ul><li>Expertise in Go to Market & Growth Strategies </li></ul><ul><li>Integration of Teams, Concepts & Products </li></ul><ul><li>[email_address] </li></ul>

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