This document discusses opportunity identification from external environmental changes. It provides examples of changing trends in the political, economic, social and technology environment and the new business opportunities they create. These include higher incomes leading to new products, more teenagers creating opportunities, and technology changes allowing services like Uber to disrupt existing industries through business model innovation. The document emphasizes that new business models, not just new products, are needed to capture opportunities and maintain competitive advantage in a changing environment.

1. 2. Opportunity Identification
DR FIRDAUS BASBETH
FACULTY OF ENTREPRENEURSHIP AND BUSINESS
UNIVERSITI MALAYSIA KELANTAN
Firdaus.b@umk.edu.my

2. ENTREPRENUR & ENTREPRENURSHIP

8. TYPES OF ENTREPRENURSHIP

19. • External Environmental changes (column A) provide opening for new business, product or service
(column B).
• Give one (1) example of each changes in Political and regulatory, Economic, Technology and Social
AND its opportunity of new business resulting from changes of external environment.
A. Changing External Environmental Trend B. Creation of New Business Opportunity,
Product or Service
Economic Changes
People have higher income
Number of teenagers bigger than elderly
and kids
Political Changes
Social Changes
Technology Changes

24. https://youtu.be/qDrMAzCHFUU
Air Asia serves Low end foothold customer
Xerox serves new customer with their personal copier

25. • Is Uber / Grab a Disruptive Innovation
• Is it disrupting the taxi business?
• What makes Uber different?
• The business model is new
• It called the Business Model Innovation
• Because new product is not enough
10 min Group Discussion

26. • The business model is new. It called the Business Model
Innovation. Because new product is not enough
• In future, competition will take place between business models,
and not just between product and technologies
Answer

27. Why do prominent firms, which have been known for their innovative
product for years, suddenly lose their competitive advantage?
Strong player such as Kodak, Blockbuster are vanishing from the business
landscape, because they have failed to adapt their business model to the
changing environment.
.