INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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many data are typically transform to find the best way to capitalize on company.
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many ideas are typically generated to find the best way to capitalize on an opportunity.
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many ideas are typically transform to find the best way to generalize on company.
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many data are typically generated to find the best way to generalize on an opportunity.
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Detailed explanation-1: -Entrepreneurs discover opportunities when they search for them in existing markets. This means they observe technological, economic or social trends. Recognising opportunities is a cognitive process. It relies on the ability of people to recognise patterns and connect the dots.
Detailed explanation-2: -Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value. Knowing the difference between an idea and an opportunity is crucial to avoid wasting significant time and money.
Detailed explanation-3: -Idea generation or ideation is the act of forming ideas. It is a creative process that encompasses the generation, development and communication of new thoughts and concepts, which become the basis of your innovation strategy.
Detailed explanation-4: -Changes in consumer demand. New business ideas come about because of changes in what consumers demand. Changes in technology. New technology is a cause of new business ideas. Products and services becoming obsolete. Original Ideas. Adapting existing products/services.