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Entrepreneurship William Wresch, Ph.D.

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Presentation on theme: "Entrepreneurship William Wresch, Ph.D."— Presentation transcript:

1 Entrepreneurship William Wresch, Ph.D. wresch@unizwa.edu.om
Extension 982 Week 6 – PESTLE Business examples

2 Your Business Plan Now Take out a piece of paper
Write the name of your business Write 2 sentences describing your business Write 2 sentences describing your customers

3 PESTLE PESTLE is an acronym (series of initial letters) for important areas of change: Political Economic Social Technological Legal Environmental

4 6 kinds of change impact your business
Technological Changes Political Changes Legal Changes Business Social Changes Economic Changes Environmental Changes

5 How an Entrepreneur looks at change
What problems are emerging that people might want me to solve? What opportunities are now available that weren’t before? How important are those problems and opportunities ( do they really matter to people?) Can I meet the problem or opportunity at a cost the consumer will pay? What can I do with these changes that existing companies are not doing?

6 New businesses competing with Existing Businesses
Technological Changes Legal Changes Political Changes New technology New import restrictions New government project New Business Opportunities New clothing styles Social Changes Incomes rise or fall Hotter temperatures Economic Changes Environmental Changes

7 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Social change – more children Day care center high Child clothing store moderate New play area

8 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Technological change – more smart phones Social media site – movie recommendations Social media site – music recommendations Restaurant site – ordering food on-line

9 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Environmental change – hotter temperatures Swimming pools moderate AC sales and service high Ice cream shop low

10 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Environmental change – less rain Well drilling company Water desalination company

11 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Technological change – solar panels drop in cost Home panel sales

12 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Economic change – less income from oil sales

13 How an Entrepreneur looks at change
Approach to business ideas PESTLE Area Potential Business Importance to Customers Social change – more people moving to large cities Home building Apartment rentals

14 Your Business Plan Now Take out a piece of paper
Write the name of your business Write 2 sentences describing your business Write 2 sentences describing your customers What is changing in the world that will help your business?

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