Opportunity Assessment

Opportunity Assessment

Answer-1

The opportunity assessment scrutinizes four major areas, to determine the feasibility of the opportunity, such as Market feasibility, Concept Feasibility, Financial Feasibility and Resource Feasibility. Since, we are short on time and other resources; the available resources will be re-allocated to make the assessment process as efficient as possible. Instead of allocating tasks to the project team only, human resource from other departments, such as marketing and finance, will also be assigned some tasks.

Since we are at opportunity assessment stage, it is safe to assume that opportunity identification has been done. This means that the opportunity is well-defined, need analysis is done, and its unique selling proposition (USP) is established. The team is has to complete the following tasks:

Perform SWOT analysis of the competitors

Determine the current behavior of the competitors

Define the market, that is, determine how many firms have entered and how many have left the industry

Forecasting

Analyze the growth of product category or industry

Determine the budget required for project

Determine whether the organization has the infrastructure to carry out the project? (Opportunity Assessment Template, 2008)

Rank the opportunities (P. Liao and A. Witsil, 2008)

We will make following changes to complete the opportunity assessment within one week:

SWOT analysis, of the Market leader only, will be done in one day by the marketing department

The part regarding the analysis of current behavior of competitor will be omitted.

Marketing department will determine the size and past trends of the market in two days.

Forecasting will be done by Finance department in two days and will be demonstrated in a graphical form.

The Finance department will also gather the data and present the Sales of the past five years.

Analyzing the collected information - This process will be allotted two days.

Compare the opportunity with an ideal investment instead of analyzing the growth of the industry. For example, compare the opportunity with an Investment X which has 60 percent growth in early years, a unique proposition, fills a gap in the market and target audience is eager for it. (Smolarski)

The team will work on budgeting and infrastructure analysis while the marketing and finance department are working on their tasks.

Rank the opportunities and prepare the presentation - The whole data will be presented in the form of graphs and matrix, so it is easy to understand the feasibility of the opportunity. This will also be done in one day.Answer 2

The marketing team will determine the size and past trends of the market as they are in close contact with the competitors on the day-to-day basis. Two people from the marketing department will be chosen; one will do the SWOT analysis of the market leader of the industry and the other will be asked to illustrate the past and current trends of the market. They will determine if the market is saturated, is competitor using aggressive promotional techniques or if consumers are looking for alternatives.

The Finance department will be assigned the task to tabulate total sales of the industry in past five years and predict the performance of the ...