Evaluating Trends and Opportunity

Evaluating Trends and Opportunities Joseph Rogers MGT/418 June 18, 2011 Dennis Dodd Evaluating Trends and Opportunities Introduction The entertainment industry is important for a city to process in tourism dollars and to maximize the enjoyment part of the individuals dungeon within the metropolitan argona. Entertainment is defined as either activity which al down(p)s people to entertain themselves in their sp atomic number 18 time. It allows individuals the power to escape from the authorized life world and dwell in fantasies. This paper volition discuss an entertainment avocation fortune needed in the Memphis metropolitan area and determine if it is a feasible venture. opus discussing this probability, this paper will also unwrap trends that should be evaluated and formulate the risk and rewards associated with the planned business opportunity. refer and Evaluate Trends The prototypic step to identifying business opportunities is to observe trends a nd essay how they create opportunities for entrepreneurs to pursue. Changes in the area of environmental, demographic, and psychographic trends often provide the nervous impulse for a business opportunity (Barringer/Ireland, 2008). Environmental factors that touch my ending on if it is a good time to start a business were economic and social community forces.

Economic forces are affected by the disposable income of the individuals. Factors to take into account opus poring over how economic forces will affect the business opportunity is the unemployment graze and determining who has money to spend. An area that has a low unemployment site and where individuals and f amilies are capable of spending money are m! odel areas to create a new business opportunity. kind forces and demographic trends reveal developments and changes in human population. More specifically, demographic trends resuscitate to changes in a populations age, gender, geographic location, married status, educational attainment, employment status, household...If you want to get a salutary essay, order it on our website: OrderEssay.net

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