Describe how to take advantage of these trends and identify current and predictable gaps in competitive offerings. Quantify the potential market by estimating the number of consumers who may have the need that you have identified and by estimating the product/service adoption rate. Identify some challenges and risks associated with launching a new product or service in that industry. Also profile some innovators and/or early adopters who are already seeking to create or acquire new products or services in that industry.

How these skills are being developed in this assessment

You will develop a set of professional and creative skills through the co-development of the report; as you create the report you will focus on the development of your commercial awareness and demonstrate creativity. You will develop as more thoughtful, resilient, and proactive.

Assignment Task

Based on what you have learned from the Module about Entrepreneurship. Reflect on what could be a possible Business venture for yourself. Write an individual report discussing what trends and changes in society you believe are creating important entrepreneurial opportunities in an industry that personally interests you, or an industry that you know is growing. Your idea, however, should be aligned with the UN sustainable development goals, i.e., you must clearly explain how your idea is relevant to one or some of the 17 UN Sustainable Development Goals. (https://sustainabledevelopment.un.org/?menu=1300 (Links to an external site.))

Describe how to take advantage of these trends and identify current and predictable gaps in competitive offerings. Quantify the potential market by estimating the number of consumers who may have the need that you have identified and by estimating the product/service adoption rate.

Identify some challenges and risks associated with launching a new product or service in that industry. Also profile some innovators and/or early adopters who are already seeking to create or acquire new products or services in that industry.