In accordance with Gundry & Kickul, (2006) entrepreneurs are commercial oriented individuals who utilize their imagination to fashion philosophies for innovative or enhanced commodities and amenities, through distinguishing the target marketplace. Intrinsically, entrepreneurs should can identify opportunities, requirements and resolutions as this is imperative in constructing innovative products and amenities and progressing existing ones. One of the most indispensable dexterities or behaviors that an entrepreneur can have which is an asset when it regarding distinguishing product or service opportunities is, observation. In accordance with Vyge, (2012) observation is an information collection technique which can be utilized in the natural setting, for instance, a public location to examine people interaction with existing products and services, to obtain comprehension as to their …show more content…
Additionally, it describes the goods or service opportunities, requirements, or solutions which I recognized from my observation. Accordingly, I observed individuals who interacted with goods and services in office building lobbies, coffee shops, diners, train stations, and electronic stores among others, while on my daily errands and routines. Ten (10) product or service opportunities, requirements, or solutions that you recognized: 1. Decaffeinated Coffee Shop Observation: While observing people in coffee shops, I discovered that numerous requested decaffeinated which, frequently was unavailable, stale, or cold. While observing I noticed, most of coffee drinkers who wanted to decrease on caffeine stated, I’ll just drink decaffeinated as an alternative. Opportunity: Based on the above observation, a coffee house with its principal product being decaffeinated coffee is a solution worth investigating. 2. Personalized Phone and Tablet
For my report, I observed the customers at a Starbucks in downtown St. Petersburg. Each time I visited this establishment, there were consistent factors as well as unique ones during each observation. The morning crowd of people was vastly different than the evening crowd. I did however see many parallels with the morning and lunch time crowd. Each time I visited, There seemed to be an upbeat and fast paced environment.
The observation occurred in the LNC lunchroom during the second lunch of the day. I observed two groups of people in the lunchroom. The first group I observed being a group of all males seated to the right of me. The second group being a group of all females seated in the middle of the cafeteria. The method of observation I used was naturalistic observation. The naturalistic observation experience during the LNC lunch period provided further meaning about or local, national, and global community.
Wandering in Seattle, you can see a lot of people holding a cup in their hands. What are they all drinking? Coffee! The smell of coffee may represent one of the Seattle’s tempting scent. People in Seattle have a great fancy of coffee. It might because of the rainy days in Seattle, coffee might be seen as an element to enliven the dank life. Also, it might because people here are really relaxed. Coffee has already entered into the spirit of Seattle. Coffee shops scatter in every corner of Seattle. People always like to bring magazines, newspapers, and laptops there for reading, chatting, surfing the internet, and working. Enjoying the wonderful atmosphere in coffee shops after the busy work is a wonderful way for people to relax themselves. The coffee culture has promoted economic consumption level in Seattle. The annual coffee consumption in Seattle is huge, and Seattle is the origin of the world’s largest coffee shop chain, Starbucks. It was first opened in Seattle in 1971 with an invisible shop in the Pike Place. But nowadays, Starbuck owns more than 6000 branches all over the worl...
The world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
Observation allows researchers to experience a specific aspect of social life and get a firsthand look at a trend, institution or behaviour. It promotes good communication skills, improves decision making and enhances awareness.
Participant observation is a method of collecting information and data about a culture and is carried out by the researcher immersing themselves in the culture they observing. The researcher becomes known in the community, getting to know and understand the culture in a more intimate and detailed way than would be possible from any other approach. This is done by observing and participating in the community’s daily activities. The method is so effective because the researcher is able to directly approach the people in the community in a natural context as opposed to taking the participant out of their environment. The aim of participant observation is to gain an understanding the subject’s life from their perspective, with the purpose of collecting more detailed information about a community’s habits, opinions, relationships and issues.
By using observation method, a wide variety of behavior can be recorded. Picking through the garbage on the side of the road can reveal behaviors of fast-food customers, or sitting for only one hour in the university canteen can understand the gender differences in choosing (diet) meal, or even watching the customer’s behavior from deciding which yogurt to be taken off its store shelves in the supermarket can also answer the question: Are the customers be attracted by its appearance or flavor or price or brand or nutrition? The aim of this observation assignment is to evaluate and explain the different types of interactions between individual and groups present, as well as the environment in which these interactions take place. The field observation was conducted at the Vietnamese fast-food restaurant named “We love Banhmi” in Budapest, and the role adopted, was that of observer as a non-participant. Group structures as well as overall activity, patterns of behavior, and the duration and timing of such behaviors and interactions were observed and recorded. Sociological concepts pertaining to age, gender, and appearance were also noted and applied.
The larger serving size of Great Cups of Coffee is perhaps the most apparent gage that will improve appeal for the company’s customers. Receiving extra of a proportionately quality product for a comparable price obviously works as an enticement for customers to prefer Great Cups more than the opposition. While customers identify with a better quality and superior taste with fresher coffee, Great Cups supports its effective model of serving coffee that has been roasted no more 72 hours ago and that is blended and ground right at the store. Great Cups also provides as an unintended marketing method community bulletin boards and assists with book club gatherings as well as
Human being spend much time observing the world in which they live in. observing the world is something were familiar with is just that we have not considered it as a way of doing formal research. Observation does not just involve vision, it includes interpretation of that same date, it’s not just recording of data from environment we observe, we are active our brains are engaged as well as our eyes and ears. In a social gathering where you don’t know people researcher can adopt participant observation where she has two roles to play that is being an observer and participant. In a hospital a nurse can pretend to be a patient in other to be admitted into the ward to enable her obtain adequate information because informant
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
It is true that most entrepreneurs typically have a flair for the creative and a lot of energy. They are born with it. But having these characteris...
The coffee shop I decided to do my observation was the well known Starbucks just a couple blocks away. The reason I chose this coffee shop was because of it 's style inside, it attracted me. For example, one side of the wall has a glass top, and the lower part of the wall, made of wood and painted in a bright red color, which was one thing that attracted me and stood out. Outside of the shop people can actually see through the glass wall and get to see what’s happening inside of the coffeeshop. By the entrance you see these two red ceiling lamps which were shaped in a flower bud and these two tall green plants. Once you were in, on the right of the shop there was a counter with food and things to put in your drinks such as milk, sugar, chocolate, etc and the colors and how the food was displayed and served was appealing to my eyes. Behind that counter there was a long table with different electronic devices plugged into the wall. On the middle of the those there is a fridge just for ice and when I turned to the other side and I noticed a big menu on the wall. Further more into the shop, there was an area filled with tables, chairs, and sofas. The tables were in different shapes, one was round and the others rectangular, also there was four bamboo baskets and I looked around and noticed that the walls in that area were decorated with paintings.
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
entrepreneurs have the ability to come up with new ideas in various situations of which one might have never imagined. Entrepreneurs have a curiosity that identifies overlooked niches and they are constantly trying to innovate (Robinson, 2014). They imagine another world and have the ability to communicate that vision effectively to investors, customers and staff.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.