Entrepreneurial Opportunities: Starbucks Business Analysis

Entrepreneurial Opportunities:Develop a list of entrepreneurial opportunities outside the confines of the company you selected. Each opportunity in your list should have supporting rationale based on your market domain evaluation and PEST analysis. Starbucks is known for innovation. From its free thinking leaders, to its stunted partners, Starbucks sets the course for exciting new trends. Though Starbucks is known as such and is a leader among other coffee proprietors it has an opportunity to do much more than what it is known for. Starbucks is a household name and with that kind of power it can create new ventures that may catch on and earn it new streams of revenue. Starbucks could go from being an entrepreneurial to an entrepreneur even though their business is already established. …show more content…
Entrepreneurs play a key role in the development of growth and prosperity in nations as well as regions (Hirsch & Peters, 1989). There are situations where opportunities are created with already existing companies. These are called entrepreneurial opportunities. This is created when new goods, services, materials, and methods can be used to gain revenue (Hirsch & Peters, 1989). Starbucks has many ways in which it can introduce something new into its market. Though it has a very big strong hold on the coffee market, it is still developing relationships outside of the Unites States. This requires action on Starbucks part, entrepreneurial action. This is the action through the creation of new products/processes and the entry into new markets which may occur through a newly created organization (Hirsch & Peters, 1989). Before taking action one must asses the market and use prior knowledge to ensure that the new venture is needed, will be welcomed, and will draw an