ENTREPRENEURSHIP

Detailed explanation-1: -Insight is the flash of recognition – when the solution to a problem is seen or an idea is born. It is sometimes called the “cureka” experience.

Detailed explanation-2: -Opportunity recognition is actually a process that’s found in the way that individuals and businesses with an entrepreneurial mindset approach new business ventures or ideas. In many ways, it is a constant brainstorming in which individuals look for ‘’new and improved ways” of addressing problems.

Detailed explanation-3: -Creative problem solving (CPS) is a way of using your creativity to develop new ideas and solutions to problems. The process is based on separating divergent and convergent thinking styles, so that you can focus your mind on creating at the first stage, and then evaluating at the second stage.

Detailed explanation-4: -Elaboration is the stage of the creative process during which an idea is subjected to scrutiny and analyzed for its viability.

Detailed explanation-5: -Idea generation is “the process of creating, developing, and communicating ideas which are abstract, concrete or visual.” As the first stage in the idea management funnel, idea generation simply focuses on identifying solutions for a problem.