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Entrepreneurship Case Analysis (

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Artemis Image Entrepreneurship case study Question 1:
Opportunity identification is the first step of any business. A business opportunity with greater market potential stands a greater chance of success.

Opportunity recognition is along the way, not only before starting the business. She becomes clearer about opportunity recognition during the process.

Individual Knowledge
Chris’s prior knowledge about the market, the value chain, its customers and product is crucial in determining whether she can identify the opportunity. In this case, Chris is the expert in creating digital workflow strategies and has designed and implemented content management solutions for large corporations in the world (Exhibit 1). Her technical expertise and background knowledge allows her to know the market and the industry well. Hence, she is more sensitive to the industry environmental changes and is able to identify the hidden opportunities.

In addition, Chris has worked as a VP at AGT, a famous media management company for 3 years. Her previous work experience allows her to know that there are many wealthy companies, which are interested in a company to digitalize and manage their photo and video archive. (Pg 176,para 3). This knowledge allows her to know the need for their product is pervasive and consumers are willing to pay for it. (book131) In this light, Chris individual knowledge about the industry demand and huge potential market is very crucial for to identify and confirm this opportunity.

Lastly, Her opportunity to work with ISMC’s project allowed her to know that archive management is a very profitable business. This has further convinced herself in opportunity recognition, which propelled her and gave her incentives to start her business in online digitalization and archive management.

Network
Social capital is important in opportunity

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