Technical Reading Accounting 510
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UNIVERSIDAD COOPERATIVA DE COLOMBIA “Profesionales con Criterios Políticos” Villavicencio – Meta – Colombia
Faculty of Accounting English III – Group 510 – Technical reading Name: _______________________________
Code: __________ Date ______________
Business Opportunity: Organic Business Keeps Sprouting Signs of a strong business opportunity are industries where growth occurs consistently year after year. One such industry is the organic food business, which has experienced 20% growth per year for the last decade according to the Organic Trade Association. From its hippie hey-days, organics have gone mainstream reaching U.S. sales of $1 billion in 1990 to an estimated $20 billion in 2007. Proof of this hot business opportunity is the natural organic retailer, Whole Foods Market. CEO, John Mackay, was named the Ernest & Young Entrepreneur of the Year. Whole Foods Market had sales of $6.6 billion in 2007, Mackay has parlayed his initial investment of $45,000 into a sizable return. The company has over 270 stores in the U.S. and U.K. Opportunities abound in this industry from exporting/importing and growing - to consulting and niche markets such as organic baby products. Earth Mama Angel Baby provides natural pregnancy and baby care products to this growing organic market. Melinda Olson of Earth Mama Angel Baby attributes her success to "the growing public interest and education about the value of organic wellness. If ever there is a time when a woman scrutinizes the purity of what goes into and on her body, it's when she's nurturing a new life." Driving Force: Driven by the health & wellness craze organics meets the need for natural food products to enhance health. An aging baby boomer market desiring greater health and longevity provides long-term growth to the organic business. Risks: Business opportunities that have already experienced long-term growth have their share of established businesses and plenty of competition. Instead of taking on established companies like Whole Foods Market, niche players like Earth Mama Angel Baby, have taken the right approach to market entry.
Vocabulary: Growth: Retailer: Entrepreneur: Investment: Abound: Success: Parlay: Enhance:
Approach: Provide:
Faculty of Accounting English III – Group 510 – Technical reading Name: _______________________________
Code: __________ Date ______________
Business Opportunity: Organic Business Keeps Sprouting Signs of a strong business opportunity are industries where growth occurs consistently year after year. One such industry is the organic food business, which has experienced 20% growth per year for the last decade according to the Organic Trade Association. From its hippie hey-days, organics have gone mainstream reaching U.S. sales of $1 billion in 1990 to an estimated $20 billion in 2007. Proof of this hot business opportunity is the natural organic retailer, Whole Foods Market. CEO, John Mackay, was named the Ernest & Young Entrepreneur of the Year. Whole Foods Market had sales of $6.6 billion in 2007, Mackay has parlayed his initial investment of $45,000 into a sizable return. The company has over 270 stores in the U.S. and U.K. Opportunities abound in this industry from exporting/importing and growing - to consulting and niche markets such as organic baby products. Earth Mama Angel Baby provides natural pregnancy and baby care products to this growing organic market. Melinda Olson of Earth Mama Angel Baby attributes her success to "the growing public interest and education about the value of organic wellness. If ever there is a time when a woman scrutinizes the purity of what goes into and on her body, it's when she's nurturing a new life." Driving Force: Driven by the health & wellness craze organics meets the need for natural food products to enhance health. An aging baby boomer market desiring greater health and longevity provides long-term growth to the organic business. Risks: Business opportunities that have already experienced long-term growth have their share of established businesses and plenty of competition. Instead of taking on established companies like Whole Foods Market, niche players like Earth Mama Angel Baby, have taken the right approach to market entry.
Vocabulary: Growth: Retailer: Entrepreneur: Investment: Abound: Success: Parlay: Enhance:
Approach: Provide:
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