Opportunity Identification and Business Model
While it may seem like every business idea has been thought of, there are hundreds of new products and services waiting to be launched in the next 5-10 years. Not only the idea, but also the method of attracting customers is key to the success of the business. The first filmless camera was patented in 1972 (US patent 4,057,830) and Kodak developed the first digital camera in 1975 (US patent 4,131,919). Some theorize that Kodak could have dominated the market if they continued to develop the technology instead of abandoning it.
This week do the following:
- Identify a company (real or fictional) and a developing opportunity (real or fictional) and select the business model that would be used to bring that opportunity to the public.
- Be sure to address the following:
- Why you selected that business opportunity
- The opportunity’s potential
- A similar product in the market and what business model is used to promote that product
- What business model you would select to promote the product and why. Make sure to also discuss and include the pros and cons of the business models not selected
Below are guidelines for writing your paper:
- Your paper should be at least 2 pages long and include at least 2 scholarly references. Scholarly sources include academic or peer-reviewed journal articles.
- Integrate your own thoughts and ideas and connect them with research support using citations from scholarly references. Demonstrate your integration of research by including APA formatted in-text citations at key points throughout your paper.