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Free Example of Technological Advances Essay

Technological advances have led to the emergence of new ways of doing things. Over the past decade, the world has experienced the declining use of computer diskettes and more products will become obsolete in the next five or so years.

For instance, other better products that perform their services efficiently and faster may replace the computer DVDs. The innovation of portable laptops has led to the decline in the use of the DVDs and CD-ROM. In car potable navigation, systems may become obsolete. Global Positioning Systems has changed the way people locate places. In addition, Netbooks may replace full size laptops. People want to carry items that are highly portable and efficient, and with the use of iPads, it is possible that the use of full size laptops will decline and eventually go obsolete. The e-reader will also become obsolete. Environmentally friendly companies that produce clean energy may replace those companies that are not environmentally friendly in energy production. Solar energy may replace fossil energy in cars.

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Therefore, with the changing customer needs and innovations, some devices will become obsolete. Efficient and fast devices will replace some of the low performing devices. It is necessary to note that some of the devices may not be obsolete by better devices will replace them.

Characteristics of an Entrepreneur

The identification of excellent business opportunities by entrepreneurs is termed as the most crucial task. A good entrepreneur must identify business ideas that can address key market needs. Thus, entrepreneurs must examine social, economic, and technological trends that can solve emerging market needs. In addition, the entrepreneurs must build new ventures that match their capabilities and interests (Byers, Dorf, and Nelson 4). These ventures must show a potential for sustained growth in the long-term. Such ventures should facilitate the acquisition of needed economic resources. Thus, outstanding entrepreneurs must have the ability to, identify opportunities, make decisions, and act on them (ActionCOACH 9).

Another important characteristic of an entrepreneur is self-esteem and self-confidence. Thus, outstanding entrepreneurs must be sure of themselves and their abilities. Thus, the step towards entrepreneurial success is the self-belief in an individual. This enhances their ability to survive the changing market needs (Stephenson, paragraph 7).

The global economy is full of business risks. Entrepreneurs must be willing take calculated risks and make a new product or change a production decision. Thus, god entrepreneurs must undertake tasks that require risks and be willing to accept this calculated risk in order to succeed (McDaniel, pp. 67).

A skilled entrepreneur must be creative. This enables them to have the ability to see a need and identify and opportunity and provide a solution for such emerging market need. Thus, entrepreneur must see things differently; take a risk to a make a change. This will only be availed if they have that entrepreneurial insight. This insight and creativity enables the entrepreneur to the first to make a change and push towards a successful result (McDaniel, pp 69).

One of the most salient characteristic of an entrepreneur is focus. This provides the orientation the enables the entrepreneur to continuously pursue a goal and obtain an end-result. Thus, an entrepreneur must ultimately maintain consistence and have the focus essential in   providing change (Byers, Dorf and Nelson, pp. 29).

Over the past decades, Americans have become aware of the kind of food they eat, how it affects their personal health. The current trends show that a majority of Americans are eating away from home. This means that food service providers have an opportunity to undertake (, Paragraph 1. Thus, promotion of healthy diets and life styles will provide an opportunity to provide food for consumers.

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The biggest need and a key problem in the current food services industry are the lack of insight into the trends of what people are going to eat. With the changing dietary of the Americans coupled with the problem declining nutritional quality, it poses a problem in how the food service industry has not responded to the needs of the consumer (, paragraph 1). Thus, the major need in this industry is to put in place food service providers that are responsive to customer needs and diet requirements.

In the food industry service, a crisis looms as majority of the service provides have not responded to the nutritional requirements of the needs of the customer. The dietary patterns are changing, and some of the guidelines into the kind of diet recommend in the USDA’s Dietary Guidelines are still, not in practice (Wilkinson Inns, Goldman, and Cook 4).

Technological advances and emerging trends have shown that people are going into online shopping and electronic marketing. The current statistics indicate that people taken online marketing seriously (Friddle, Mangaraj, and Kinsey 18).

Through globalization, the world has converged socially and cultural. With the globalization, the world has become a global village leading to the convergence of various cultures and cuisines. This provides new flavors and textures. This will ultimately change the way the food services industry is going to work.

Changing demographic trends have shown that the food service industry is going to evolve and grow in leaps. The baby boom generation is aging and does not seem to have time to cook. This means that their children and grandchildren may not have the cooking talent in the end. This may ultimately affect the food service industry and lead to its growth. In addition, the tight labor industry has affected the food service industry leading to derived demand for convenience products (Friddle, Mangaraj, and Kinsey, pp.11).

A Fast Food Franchise Restaurant

A majority of Americans is eating away from home. This means that an opportunity exists in the food service industry. The novelty of the idea postulated stems from the changing market requirements and needs of the American population. In addition, with improvement in technological advances, a new fast food franchise is a brilliant idea. This will only be an excellent opportunity if such franchise puts into practice the needs of consumers in terms of the dietary requirements. In addition, with online shopping, it is possible to sell and market some of the non-perishable goods online.

The product is novel as existing and future trends show that most Americans need a diet that has a high nutritional value and that are available where needed. Since most Americans, about sixty percent eat snack food on regular occasions; they consume about 20 percent of calories from snacks. Estimates indicate that about half of young adults skip their breakfast, and one-fourth skip lunch (, paragraph 3). This provides an opportunity to target such individuals in order to provide them a meal that meets the nutritional requirements.

The main differentiating qualities that can create a significant value for the new franchise include respecting the dietary requirements and availing such food at the right location.

The major problem that a new fast food restaurant will solve relates to the provision of food the required nutritional content. This must ensure that the right location for providing the required food exists.

The returns from a new fat food franchise restaurant are high. Market trends indicate that a majority of people eat away from home; thus, the idea will breakeven and provide profits.

The fast food industry is competitive. With well-established market leaders like McDonalds, it remains a high-risk business idea. However, with the provision of the services that Americans require, such idea is conceivable.

It is possible to provide food at a low cost. With the emergence of genetic engineering and new genetic foods, it is cheaper to offer such services.

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