Opportunity Areas

We explain what opportunity areas are and what types exist. Also, what is its importance to achieve objectives.

Workers undergo training to develop in their areas of opportunity.Workers undergo training to develop in their areas of opportunity.
To improve the progress of a project, areas of opportunity are usually explored.

What are opportunity areas?

An opportunity area or opportunity zone It is an aspect, trait or theme that, in its respective context, can be improved or used., that is, it can be enhanced or maximized. There are areas of opportunity in very different fields and senses, but the term is usually used mainly in what concerns personal and work matters.

To achieve the goals set and improve the progress of a project (whether personal or work-related), areas of opportunity are usually explored, that is, the aspects that can be improved or that offer the greatest margin for possible development of the project. For example, if a proposed objective is to save money for a trip, the areas of opportunity to do so will include superfluous expenses that can be cut, money that can be invested and multiplied, overtime that can be done at work, among others. others.

There are two different ways to understand opportunity areas. They can be seen as weak aspects or defects, the improvement of which would mean progress towards the objective or greater effectiveness of what is done. Or they can be seen as untapped aspects, that is, lacking investment, to which it is possible to dedicate effort and resources. In both cases, however, these are aspects that promise greater future reward.

The advantage of thinking in terms of “area of ​​opportunity” and not “defects” or “failures” is that allows a more optimistic and proactive view of the problemsince solutions and learning are prioritized.

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See also: Organizational objectives

Types of opportunity areas

In general, a distinction is made between areas of personal opportunity and areas of professional or work opportunity, as follows:

Areas of personal opportunity. They are those that involve aspects and objectives of an individual’s private life, and that are determined by their personality, their habits, their past and their personal aspirations. These areas of opportunity include examples such as the following:

  • Give up bad habitssuch as smoking, procrastinating, or excessive drinking.
  • Strengthen social lifechoosing better who to connect with, resuming positive friendships or remedying past mistakes.
  • Buy your own housewhich means choosing an appropriate debt plan and redesigning family finances.

Areas of professional or business opportunity. They are those that have to do with working life and its conditions, that is, with work. Therefore, they can refer to a worker, a group of workers, or the entire organization. These areas of opportunity include examples such as the following:

  • Improve customer response timethrough a redesign of customer service strategies, a training workshop and a renewal of workers’ electronic equipment.
  • Expand the production departmenthiring new qualified personnel, new machines and a larger space, in order to satisfy the needs of the market.
  • Automate processesusing international ISO software and systems and thus also implementing new quality control criteria.
  • Implement a new corporate imagefor which it is necessary to change the logo, the brand colors, the management of social networks, among other marketing issues.

Both in the case of personal and work-related areas of opportunity, taking advantage of them requires significant changes in the way of living or working. In such a way that weak or unwanted aspects (having vices, few friends, losing clients, not satisfying demand, among many others) bring with them new dynamics that are positive not only in the short term, but in the long term.

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Continue with: Objectives and types of strategies

References

  • “Strengths and areas of opportunity” in Competitive Mexico of the Government of Mexico.
  • “Areas of Business Opportunity: a case study” by HE Escobar and other authors. Magazine of Science, Engineering and Technological Development of the Lerdo Higher Technical Institute (Mexico). Available online.