LESSON 1: INTRODUCTION TO OPPORTUNITY SEEKING Flashcards
(28 cards)
process of identifying and pursuing potential prospects that could lead to significant personal, professional, or business benefits
opportunity seeking
involves recognizing gaps in the market, unmet needs or new trends that can be leveraged for growth or innovation
opportunity seeking
opportunity seeking often translates to
discovering new ideas or niches
opportunity seeking might involve looking for new roles, skill enhancements or networking opportunities that can lead to career advancement
career development
identifying areas where new technologies or methodologies can create value or improve efficiency
innovation
it can mean identifying opportunities for learning, personal development or new experiences that align with personal goals
personal growth
the role of opportunity seeking in entrepreneurship (2)
- opportunity recognition
- innovation and value creation
successful entrepreneurs are adept at spotting opportunities that others may overlook
involves recognizing market gaps, emerging trends and consumer needs
opportunity recognition
entrepreneurs use opportunity recognition to drive innovation, creating new products or services that address identified needs
innovation and value creation
example of innovation and value creation
rise of e-vehicles = offer more sustainable transport option
role of entrepreneurship in career development (2)
- career advancement
- networking and mentorship
professionals who actively seek opportunities for growth are more likely to advance in their careers
this proactive approach helps individuals stay relevant and competitive
career advancement
building a robust professional network can open doors to opportunities which are crucial
networking and mentorship
network opportunities (3)
- job referrals
- collaborations
- mentorship
key traits of successful opportunity seekers (3)
- curiosity
- resilience
- vision
natural inclination to explore new ideas
drives individuals to continually seek knowledge and understand the evolving landscape
curiosity
ability to bounce back from failures
view challenges as learning opportunities
resilience
ability to see potential, can foresee long term impacts and opportunities that align with their goals / needs of the market
vision / visionary
key skills of successful opportunity seekers (4)
- analytical thinking
- creativity
- networking
- risk management
the capacity to critically evaluate opportunities based on factors
involves using data and insights to make informed decisions
analytical thinking
ability to generate ideas and solutions
adept at finding unconventional ways to address problems or seize opportunities
creativity
building and maintaining professional relationships that can provide support, access to opportunities
networking
effective networking involves
- strategic relationship-building
- leveraging connections
skill to assess and mitigate risks associated with pursuing opportunities
risk management
