An advantage of this value is that it is an easy value to communicate and to remember. 3.) Opportunities: The letter ” stands for opportunities in SWOT analysis. As you continue running your business management venture you should identity opportunities that arise from it. The opportunities that you’ll identify will make your business to thrive in the market. You’ll expand your business to new markets and this is the kind of growth that will strengthen your business. With the advent of the internet and web 2.0 technologies, large group of people can connect with each other and leverage on large scale collaboration to achieve collective goals. Crowdsourcing and crowdfunding are popular terms that are coined in accordance to this phenomenon. The power of the crowds has successfully shaped Wikipedia the free online encyclopedia, innoCentive which crowdsources research and development for biomedical and pharmaceutical companies, Amazon Mechanical Turk which enables employers to distribute minute tasks to thousands of registered workers, MyFootballClub which facilitate members to vote on the composition of a soccer team and various other collaborative projects springing across the internet.
Most people do things to please others. They do not have any thoughts of their own. Instead, they live the lives that others dream up for them. They want to please their children or friends or their parents and sincerely do what is expected of them to do. They live double lives all the time. Doing things they don’t want to do, talking stuff they don’t believe in just so as to fall in line with others. As the saying goes, “No man is an island unto himself”. Entrepreneurs however are a rare breed. They do exactly what they want and say precisely what they believe in. You may criticize them, show them their defects or mock at them, but the one thing you cannot do is influence them. Entrepreneurs are whole souled beings who think their own thoughts and live their own lives. Thus they are not split in their minds between their inner and outer lives.