Innovation & Enterprise Essay Example | Topics and Well Written Essays - 2500 words

Innovation & Enterprise - Essay Example Idea Development In every human being, there is a need to communicate. Communication is a necessity in the social life of the human race. Communication, in its many forms can be considered educational, informative as well as entertaining. Communication is facilitated by numerous media, but there is none that has enlisted interest from the world such as the internet. The internet facilitated communication of data in the form of sound, images and motion and live pictures making it an extremely high potential specialization area. Being a student under the computing field, I have realized the need for a means by which persons can communicate and exchange ideas freely with little or no limitation. I intend to start a photo sharing and interactive website that shall be used to facilitate communication and sharing of experience via sharing of photos. This choice of a business idea comes from the current trends in the social networking sector, with new and more advanced technologies coming u p every now and then. By market segmentation, I am able to focus on a particular group of young and energetic social networkers to whom the website is of great interest as well as advantage. The current trend in the social networking field is advantageous for other sectors such as the marketing sector in business. The aim of marketing is reaching as many people as possible within a given time limit. By using social media as a platform to communicate to possible customers in an interpersonal level, businesses are saving on both costs and materials, while getting a much higher efficiency from the exercise. Motivated by this idea, I intend to include advertisements in the site where, interested parties shall be given the opportunity to advertise their wares over a given period of time as agreed upon by the advertiser and the site administrator. It is necessary that adequate research into this field is conducted for it encapsulates several challenges that might be the downfall to the si te. There are a number of challenges that face the choice of business such as high competition from the existing industries as well as the initial starting capital. Research into this subject shall involve questions such as the affinity in the market for a site that facilitates the postage of pictures over the internet. The young adults and the youth are the main target market for the site, when it comes to its success, for it is by the numbers interested shall investors get the audacity to make investments using my site. The marketing that is to be done shall show that there is a need for the youth to get involved in the photo sharing site, through referrals or associated links so as to facilitate the sites growth. I estimate that the returns from the site shall at first be meagre, but with time and popularity, they shall increase. One of the advantages that are behind the idea is the fact that the site is presented in a global platform. The challenge of working within boundaries h as always been a huge challenge for many businesses, but with the site, the work shall be conducted on a global scale, which means that it shall be easy to reach almost every community in the world. Popularising the website may be a huge challenge for the business, but with support from my colleagues and the locals, the site is expected to be a huge employer in the near future. The idea of the photo-sharing site is supported by an ethical necessity for the community to control the content of sites. As