Opportunities:

Contrary to popular belief, business opportunities do NOT have inherent value. What may be a value opportunity for Company A, may be absolutely worthless for Company B. The fact is that opportunities only value in context. The contexts are firm specific and time specific. While the identification of business opportunities is vital for a firm success, for most established firms it is not the identification that is most important but rather the selection. More specifically, most firms have trouble deciding which opportunity, among a few, to pursue. This lecture will discuss this issue, but further suggest ideas, concepts and techniques that managers and firms can use to determine the value of opportunities and moreover how to select business opportunities.