Table of Contents

Introduction…………………………………………………………,.....…………………….3

[Link] Exfoliation & Identification ……………………………………….…………4

1.1Sources of business innovation opportunities ……………………..……...……..………..4

1.2 Type pf opportunities were identified …………………………..………...…….………..5

1.3 Main factors affect business opportunities identification………..……………………….6

1.4 Being a Risktaker ………………………………………………..……………………….6

[Link] Strengths of our business……………………………..……………………………….7

[Link] \Challenges…………………………………………….…………………………7
4. lessons learnt and future enhancement………………………………...……………………8

5. Conclusion………...………………………………………………,.....…………………….9
 Introduction

In light of academic background gained from : INSIGHTS INTO INNOVATION AND

ENTREPRENEURSHIP course with Dr. Marouane Khallouk and with the experience of
Assesment 3 group work , main learning main learning outcomes will be reflected on the
analysis of My e-Health Care Application. First, mechanism for business opportunity
exploitation an identification will be discussed. Second, main strengths & weakness of our
selected business idea will be highlighted. Third, lessons learnt for further enhancement and
development will be addressed.

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 1. Opportunity Exfoliation & Identification

Main pillars of opportunity identification which include : 1. Ducker’s seven sources of

opportunities , 2. Types of opportunities and 3. Factors impacting the opportunity
identification and exfoliation will be discussed.

1.1 Sources of business innovation opportunities :

According to Peter F Drucker's, there are Seven Sources of Innovative Opportunity :

• The Unexpected.
• Incongruities.
• Process Needs
• Industry and Market Structure Change. ...
• Demographics changes
• Changes in Perception. ...
• New Knowledge.
Main Source of our business innovative idea is : the industry and market changes due to
covid-10 as it opened new area for innovation. With the expansion of the pandemic , new
problems has evolved one of them were physical doctors visits. We have utilized this
problem as an opportunity to launch our medical app in Dubai. This will solve a problem ,so
people will definitely go for it especially in peak-hours, traffic , non-emergency …[Link]
industry and marked have significantly changed and these changes will sustain as in future
with the digital transformation the world is moving towards Hybrid meetings. For the
development of our app we utilized two types of innovations Commercial & Service
innovation.

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1.2 Type pf opportunities were identified

To classify type opportunities , Cardozo & Ray (2003) matrix can be implemented. The
matrix classifies opportunities into four different categories :

1- Dream where no market needs or problem solutions are proposed

2- Problem solving, where the problem statement is clearly defined , but the solution is
not yet finalized
3- Technology transfer where the problem is not clear yet , but the idea of service or
product is identified.
4- Business formation where the problem & solution are clearly defined and ready for
implementation.

After monitoring market changes due to the virus and customers’ needs and expectations
identification which resulted in establishing a new opportunity of innovation that falls
under the category of Business formation.

Problem : Covid-19 restrictions on social distancing, lockdowns

Solution : My e-Health Care Application

Figure 1:, Cardozo & Ray (2003) matrix

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1.3 Main factors affect business opportunities identifications

Based on knowledge gained from this project along with information gained during class,
these are the Key factors affecting opportunities identifications which are :

1. Entrepreneurial alertness

2. Prior knowledge of market

3. Social networks

4. Personality traits

During brainstorming sessions which we had to look for a new innovative business idea we
experienced the importance of above factors to identify an opportunity for business. An
effective entrepreneur is the one who pay attention to details and observe changes instantly to
attract the chances and be the leading in the market. This Entrepreneurial alertness can help in
shaping the future rather than waiting for it. Understanding market needs is essential prior to
designing your service or product, because currently people are interested in tailored and
customized experiences. Furthermore, entrepreneurs shall never underestimate the strength of
Social networks as it’s the current weapon to understand customer needs and target extremely
wide range of customers through advertising. Positivity! being optimistic will be the motive
which drive a business to grow and flourish.

1.4 Being a Risktaker

Throughout my learning journey, I noticed that all entrepreneurs are risktakers who are not
afraid of failures. All opportunities are located outside the comfort zone, so we need to go
further and challenge ourselves to hunt for emerging opportunities. Feasibility studies, risk
calculations are very strong tool which can help up in making are decision when selecting an
opportunity.

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[Link] Strengths of our business:

1- The current situation of covid-19 that changed the entire world

2- Hybrid meetings will be the new normal as stated by leading future freighters.
3- Another strength of our business is launching it in the city of life ( Dubai ) , which is
at the centre of the world attentions besides its high population that exceeds four
millions from different nationalities .
4- It will be the first medical app in Arabic in the UAE
5- It will be one of the most reliable apps with highest security as it will be operated on
clouds rather than conventional communication\ethernet ports.
6- The Global health digital market is not very competitive in the UAE

[Link] \Challenges

1- Although we are focusing on utilizing clouds to increase information and data security, but
this cloud feature may at certain point get hacked as its currently under research and studies.
Because any information which is uploaded on the web, is vulnerable to electronic privacy.
Hence, it will be the major challenge contorting us. Once we succeed in developing a strong
reliable app with highest security standards we will be the global leading medical app
owners.

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4. What you have learnt and would like to do differently the next time?

One of the main lessons learnt out of this group work was reconsideration of our
revenue model. In ENT 902 we have learnt that most successful business are customer
oriented, but our business was focusing on revenues more than customers. Next time I would
be proposing a flexibility which benefit the company & the customer. In which there will be a
package with 4 services with fixed price as a monthly subscription fees, this will allow the
customer to have a flexibility of selecting his\her services preferences which may vary\month
besides maintaining the monthly subscription. To increase the number of loyal customers, a
discount of 10% will be given to keep attracting more customers. Another thing which I
would go for in future is allowing fresh graduate doctor to offer free 10 minutes consultation
for customers, by these customers will be benefiting more through taking consultations from
different perspectives (the second one is free) and giving the chance for fresh minds to get
experience within shorter period of time.

The next stage will be going worldwide ( After investing in raising security
standards), customers can share their X-RAY, AMR, photos with doctors all around the
world to get consultations from different doctors\consultants within 24 hours. Even if the
charging rate for these services increased a bit, customers will never hesitate to use our
services as it not comparable with travel, transportations and hotel fees.

In future , we may have a special section for cosmetics and plastic surgeries
consultations due to the increase in the demand for plastic surgeries post covid-19 de to many
reasons.

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 Conclusion

In brief , opportunity identification include : Ducker’s seven sources of opportunities

, Types of opportunities and ,Factors impacting the opportunity besides believing in yourself
and being a risk taker . Medical app strengths and weakness were discussed and lessons learnt
were implemented for future enhancement.

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 References

Marouane Khallouk. (2020). ‘Adventure Park’ [PowerPoint presentation]. Available at: Class
ENTR902 - Autumn 2020 - Innovation and Entrepreneurship Park by Marouane MKH on Prezi Next
(Accessed: 7 December 2020)