Question

Choose an industry that interests you.

Compose an status report using the Internet, LexisNexis or other industry source, current periodicals, and interviews with people in the industry.

In your estimation, does this industry have potential for new business opportunities? If so, where do those opportunities lie?

After gathering finding deliver an analysis in at least three hundred words, indicating sources used to develop conclusions.

Summarize the new venture creation process and the life cycle of a new venture from idea development and launch through growth and various exit strategies.

Answer 1

Students can choose any industry based on their choice. I am taking the Healthcare industry for explaining the factors which will affect it.

Factors that you should take into consideration while studying the industry are:

1. Industry current state ( Launch, Growth, Maturity, Decline)
2. Major Players in the industry
3. Market share of each player
4. Size of the Market
5. Growth Rate
6. Any Barriers to entering or exit the industry
7. Govt Rules and Regulations
8. Any New technology coming into the picture in the particular industry

Using the above-mentioned factors student can compile the report which will affect the industry.

The Healthcare industry will always have the potential to grow new business opportunities with new diseases coming up day by day. Take the example of COVID-19, all other industries are at standstill but the health care industry is booming. In the Healthcare industry, the opportunity lies in every step be it making new medicine for already found disease or preventive medications or even testing kits to identify the disease and then diagnose it.

Student can deliver the analysis based on above-mentioned factors as the factors are self sufficient and self explanatory in nature.