Opportunity management

1. Opportunity management

2. Agenda • Icebreaker • Welcome and Introductions • Agenda Review • Objectives • Opportunity management • Provincial, Regional & Community Profile • Idea Generation • Action planning • Parking Lot • Discussion/Evaluation

3. Workshop Objectives • Understand opportunity management and its role in community economic development • Describe the major steps in the opportunity management process • Understand and apply criteria needed for opportunity management • Develop strategies to engage in opportunity management in your community or region • Identify stakeholders to be involved in the process • Determine the partners to be involved in feasibility studies and action planning

4. What is Opportunity management • Part of venture development process and “funnel” • Rooted in entrepreneurship • Used for community economic development and business development idea generation • Encouraged by government and funding agencies to establish local priorities • Successful if inclusive community process

5. Opportunity management Exercise 1 • Introduce participants to opportunity management

6. Opportunity management Exercise 2 • Understand the importance of a provincial profile

7. Provincial Profile • Provides background information on province • Includes information such as: • Employment/unemployment • Population • Incentives • Priority sectors • Housing starts • Income levels • Migration/Birth Rate

8. Opportunity management Exercise 3 • Identify which provincial priority sectors are applicable to your community

9. Regional and Community Profile • Contains local and regional information from: • REDB • CBDC • Rural Secretariat • Chambers of commerce • Community profiles • Economic development plans • Municipal plans

10. Research and Development • Provides information on R & D in your area • Sources of information include: • Memorial • College of North Atlantic • National Research Council • Department of Fisheries • Others

11. Research and Development Exercise 4 • Identify research and development initiatives and leaders in your area

12. Community Infrastructure • Includes physical resources not always captured in community profile • Roads • Broadband • Facilities • Provides relevant information for opportunity management

13. Community InfrastructureExercise 5 • Identify types of infrastructure information that should be contained in a regional or community profile

14. Business and Services • Provides overview of existing services and products • Assists to identify gaps in region and community

15. Business and Services Exercise 6 • Identify major employers and opportunities in the region

16. Identify Opportunities • Generates list of possibilities for the region or community • Considers community, business and organization needs

17. Identify OpportunitiesExercise 7 • Brainstorm business and community development ideas for the region or community

18. management Criteria • Ensures means to filter opportunities • Provides opportunity to reflect community, business and organizational priorities • Reduces long list to workable list of priorities

19. management Criteria Exercise 8 • Develop criteria for assessing opportunities

20. Apply Criteria • Provides method to rank opportunities • Enables group process to identify priorities • Results in list that is generated by group

21. Apply CriteriaExercise 9 • Apply criteria to the list of opportunities generated by the group

22. Action Planning • Determines how to research and analyze short list of priorities • Identifies partners to be involved in the research and analysis • Determines timelines for process • Assists government and funders to understand local priorities

23. Identify Next Steps Exercise 10 • Identify follow up for research

24. Opportunity management • Parking Lot • Discussion/Summary • Evaluation Thank you!