Entrepreneurship is a process of identifying the opportunity, converting the opportunity into marketable products or services using creative and innovative means, and through the process creates value and wealth to the society.

DEFINITION OF ENTREPRENEURSHIP

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False
C	Either A or B
D	None of the above

Explanation:

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: -Opportunity recognition is a process through which entrepreneurs and businesses identify potential methods of growing their ideas or beginning new ventures.

Detailed explanation-3: -Concept of Entrepreneurship: The process of creation is called “entrepreneurship”. Entrepreneurship is a process of actions of an entrepreneur who is a person always in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise.

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INTRODUCTION TO ENTREPRENEURSHIP

DEFINITION OF ENTREPRENEURSHIP