INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Three ways to identify an opportunity are ____
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observing trends, solving problems, and dreaming.
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observing trends, solving problems, and finding gaps in the marketplace.
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planning, observing trends, and finding gaps in the marketplace.
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solving problems, observing trends, and planning.
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Explanation:
Detailed explanation-1: -The correct answer is A) Observing trends, solving a problem, and finding gaps in the marketplace. This is a process through which a firm identifies potential areas for business operations and development in the market to sustain higher growth and improve its margins.
Detailed explanation-2: -He identified these methods for finding new business opportunities: Develop a new market for an existing product. Find a new supply of resources that would enable the entrepreneur to produce the product for less money. Use existing technology to produce an old product in a new way.
Detailed explanation-3: -One of the best ways of identifying new business opportunities is to complete a SWOT analysis.
There is 1 question to complete.