NVIRONMENTAL SCANNING OF UAE (SCOPE FOR NEW VENTURE)

OBJECTIVE:
When searching for an entrepreneurial venture it is important to recognize that the discovery is not a result of random actions, it is a structured process that is based on solid observations about how to do something better and different.
Step1-Analyze the following factors:
Social factors
Technology factors
Economical factors
Environmental factors
Political factors
Legal factors
Step-2 Development of new venture:
a? New product or service: This is the type of new venture strategy that most people think of first, but it also involves the most innovation, creativity and time.
a? Parallel Competition: Do what others are doing; only, do it better.
a? License: Thoroughly research the licensing, purchase price, and obligations including royalties.
a? Geographic Transfer: Look for successful businesses in other cities or countries and bring the product or service to your own region before someone expands.
a? Develop a network for supplier: figure out the strategies for how to do with profit.
a? Buy a Business: This strategy requires systematic searching for the right opportunity: confirm that there is adequate cash flow and that the price reflects the cost of asset acquisition and a reasonable premium for profitability and goodwill.
Regardless of the method used to uncover an exciting new venture opportunity, the real work has just begun. You now have the task of evaluating your idea and yourself to make sure that the prerequisites for success are there. With a good idea and good leadership, your entrepreneurial dream can come true. Start the process now, and begin observing the many ways you can serve the market directly.
Outcome:
By analyzing the above factors you should come to a conclusion to start a business venture in the area of ___________industry, and the product name________.

VENTURE NAME_____________.

Sources: Internet, Year book, Magazines , Research reports, Government portal, Country guide etc.
Note a Not meeting the deadline shall be subject to negative markings.
There should not be similarity in the venture among the students.
Report format :( 6-8 pages)
Introduction
Profile of the study area
Analysis of major factors
Probable alternatives of goods or services
Intended final venture