How entrepreneurs identify market change

How did the entrepreneur identify market change or emerging markets?

The purpose of this paper is to examine how entrepreneurs identified and responded to changes in their business environment. This study will focus on two types of environmental factors that affect a firm’s ability to survive, grow, and prosper – competitive forces and technological advances. In addition, it examines whether these firms were able to adapt successfully to such external influences by changing their strategies and/or organizational structures.

Theoretical Framework: To understand why some companies are successful while others fail, we must first look at what makes them different from one another. According to Porter, there are four key characteristics that distinguish between high-growth and low growth organizations. These include size, scope, intensity, and stability. Size refers to the number of employees an organization has; Scope describes its geographic reach; Intensity indicates the level of competition within the industry; Stability measures the degree of consistency with which the company operates over time.

In order for a company to be considered “high growth,” they need to have all four characteristics. However, if any three out of the four do not exist, then the company can still be classified as having potential for future success. For example, a small local grocery store may only employ 10 people but could potentially become very profitable because of its large customer base.

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