Introduction: In today’s highly competitive global economy management must recognize and seize opportunities in order to gain an economic advantage. With the advent of technology organizations have implemented cost containment, virtual collaboration, and effective customer feedback initiatives, and with the added efficiencies greater capability to innovate by creating and redesigning products to meet market demand.
The essay for this lesson is required to be a minimum of 4 pages. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (APAstyle.org).
Step 1: Introduction
Consider how managers seize opportunities. The written analysis should include a minimum of three references cited within the content of the paper and the reference page according to APA guidelines.
Begin with an introductory paragraph that poses the question – How do managers seize opportunities?
Once executive management recognizes an opportunity, the company generally will assign a manager to seize the opportunity by taking the previously selected need, want, or problem and converting it into a commercial product. There are five ways a company can fulfill a customer need or want:
Step 2: Research and Write Essay Content
Research via internal course materials and external resources (relevant Internet articles, books, etc.) to deliver a written analysis on the following:
Step 3: Conclusion Summary
Conclude the assignment with a statement of the type of business that a company or an entrepreneur might wish to pursue given any given potential idea or opportunity example (real or otherwise). Substantiate why a commodity, product, service, transformational business (or combination thereof) would likely be the best approach following the above written research analysis.
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