ENTREPRENEURSHIP

Detailed explanation-1: -Opportunities. Possibilities that arise from existing conditions. Ideas. Thoughts or concepts that come from creative thinking.

Detailed explanation-2: -There are two types of opportunities : (i) Existing opportunity : These opportunities already exist in the environment. (ii) Created opportunity : Such opportunities are created according to fashion, technological changes and taste of customers.

Detailed explanation-3: -Scholars have debated the extent to which opportunities are discovered or created. Discovery theory maintains that opportunities exist objectively independent of entrepreneurs, while creation theory argues that opportunities originate from the action of individuals.

Detailed explanation-4: -Entrepreneurial opportunities can be defined as “situations in which new products, services, materials and organizational methods can be launched onto the market to create value” (Gonzalez-Alvarez & Solis-Rodriguez, 2011, p. 757).