BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People lack in clarity on the things to do
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Un-favourable economic conditions with limited opportunity to gain and grow.
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Lack of understanding of customer needs and solutions to their problems
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Idea generation is not taught in educational courses
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Detailed explanation-1: -Taking financial risks to invest in your business idea is one of the hardest things about being an entrepreneur. The risk that a venture’s cash flow will not be sufficient to meet its financial obligations is the biggest concern for most entrepreneurs.
Detailed explanation-2: -Although generating ideas is often the easy part of innovation, collecting and managing them can be challenging without a proper tool. Because people often come up with new ideas then and there, they should be able collect these ideas right when they arise.
Detailed explanation-3: -Idea generation or ideation is the act of forming ideas. It is a creative process that encompasses the generation, development and communication of new thoughts and concepts, which become the basis of your innovation strategy.
Detailed explanation-4: -Idea Generation is important because it enables you to expand your range of ideas beyond your current range of thinking. We believe that you must first expand thinking to include more questions, more variables, and more ideas before you begin the refinement process.