BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -opportunity recognition. Generally speaking, the opportunity recognition process consists of two phases of activity. They are A. Global Search and Recycling Profits.

Detailed explanation-2: -The five stages of opportunity recognition process include getting an idea, opportunity identification, opportunity development, opportunity evaluation, and team assessment. An entrepreneur must follow these stages effectively for a successful business.

Detailed explanation-3: -The evaluation phase of opportunity recognition occurs when an entrepreneur has an insight about a new business venture, often based on prior knowledge. The majority of entrepreneurial start-ups are financed with angel financing. An entry wedge is a type of entrepreneurial strategy firms can use to enter into business.

Detailed explanation-4: -In this regard, opportunity recognition is based on three important factors: (1) the active search for an opportunity, (2) the alertness to perceive an opportunity and (3) prior knowledge of and experience in an industry.