The definition of opportunities in the business field refers to the possibility of improving a company. They are positive factors and with the option of being exploited by the company. To recognize opportunities, you have to answer a series of questions such as:
- What positive opportunities does the business face?
- What technology changes are taking place in the mercado?
- What changes are taking place in the political or legal regulations?
- What modifications are there in social patterns and lifestyles?
- Are there new market trends related to the business?
- Is there a situation in the economy?
- What circumstances improve the situation of the ?
The concept of opportunities encompasses all the positive factors that are created in the environment and that once identified can be used to improve the company's situation. This term shows the possible markets, business niches, etc. that are visible to all, but that in the case of not being recognized in time can be an important advantage over the competition.
The concept of opportunities, together with threats, weaknesses and strengths make up the analysis DAFO, which serves to give a diagnosis about the state of a company both internally and externally. Opportunities are precisely in the external dimension.
Another definition of opportunities can be anything that implies a competitive advantage for the entity, or also suppose a possibility to improve its profitability or increase the figure of its business. Experts assure that there is no specific number of opportunities that should be accounted for when performing the SWOT analysis.
The opportunities allow the development of the company thanks to external circumstances, with a sector that we can satisfy with the articles or services that we create.