INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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An operational plan
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An opportunity assessment
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Identifying resource gaps
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Developing a growth plan
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Detailed explanation-1: -The opportunity identification stage can be divided into five main steps namely getting the idea/scanning the environment, identifying the opportunity, developing the opportunity, evaluating the opportunity and evaluating the team (Gartner et al, 1999:220; Ardichvili et al, 2003:108).
Detailed explanation-2: -Opportunity identification and evaluation refers to a comprehensive evaluation with customer demands. This evaluation includes five points of view, such as finance, investment return, internal factor, innovation and growth and customers.
Detailed explanation-3: -The five stages of opportunity recognition process include getting an idea, opportunity identification, opportunity development, opportunity evaluation, and team assessment. An entrepreneur must follow these stages effectively for a successful business.
Detailed explanation-4: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019