INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Work experience, hobbies, networks, systematic search lead to opportunity recognition. Opportunities are innovations that occur due to changes in industry structure, demand, outside events, demographics.
Detailed explanation-2: -Entrepreneurs discover opportunities when they search for them in the existing markets. This means that they observe technological, economic, or social trends. They observe the changing environment and events in their professional or daily life. They talk to people in their network.
Detailed explanation-3: -Identify Your Pain Points. When searching for potential market needs, start with yourself. Conduct Market Research. Another way to prove whether a business idea is viable is by conducting market research. Question Processes. 05-Apr-2022
Detailed explanation-4: -Past Work Experience: Hobbies and Interests: Strengths and Abilities: Friends and Family: Distribution Channels: Travel: Books and Magazines: Current Trends: More items