ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -entrepreneur are innovative opportunity seekers. They have endless curiosity to discover new or different ideas and see whether these ideas will work in the marketplace.

Detailed explanation-2: -It also means actively looking and going after ideas which can be turned into opportunities. If instead of waiting for guava fruits to fall, Juan climbed the tree or used a sungkit to pick the fruits, then he would have practiced opportunity-seeking behaviour and not be called tamad at all.

Detailed explanation-3: -1. The ongoing process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm. Prior experience informs the process, but it may also limit it: opportunity seeking calls for continuous reconsideration and adaptive learning.

Detailed explanation-4: -Once you develop the habit of opportunity seeking, keeping your eyes and ears open, you will find that there are clues everywhere that can lead you to an innovative idea. Sometimes it’s best to just go for a walk and force yourself to look for opportunities. You might find yourself a breakthrough innovation.

Detailed explanation-5: -Brim with curiosity. There’s one disposition and mindset that must be “on” like electricity to power all the other opportunity-seeking behaviors: curiosity. Court serendipity. Cultivate randomness. Connect to human networks. Take intelligent risks. 19-Jun-2012