Refer to the scenario below to answer the following questions.
A New Subsidiary (Scenario)
Philip works for a large multinational corporation with offices in 23 countries, 64,000 employees worldwide, and $8 billion in annual sales. The company was involved in several different industries: automotive parts, rapid transit systems, and recreational vehicles. Philip is the executive vice-president of new technology ventures.
Philip wants you to investigate and potentially launch a business focusing on alternative energy systems. The first area you are to explore is the potential business opportunity of ocean tidal energy. You are to explore what technology already exists that can be exploited, what additional technology development is needed, and figure out the viability of the tidal energy as an entrepreneurial venture.
-One can see the three key facets of the Timmins Model of the Entrepreneurial Process. The corporation is providing the resources (financial, etc.), you are leading the team, and it is your job to uncover and clarify the ________________.

Question

Quizplus · Accepted Answer

The key facet of the Timmins Model of the Entrepreneurial Process that needs to be clarified in this scenario is the opportunity. Philip has asked to investigate and potentially launch a business focusing on alternative energy systems with a specific focus on ocean tidal energy. The exploration is to figure out the viability of the tidal energy as an entrepreneurial venture. Therefore, the focus is on uncovering and clarifying the opportunity for the venture.

Refer to the Scenario Below to Answer the Following Questions