INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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evaluating the profitability of the venture.
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determining the risks and rewards.
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developing a stable business.
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growth of an already stable business.
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Detailed explanation-1: -Also called the critical window, a window of opportunity is the short period of time within which some action can be taken that will achieve a desired outcome. Once this period is over, or the “window is closed, ‘’ the chance to take the opportunity is no longer possible.
Detailed explanation-2: -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-3: -Market uncertainty, financial risk, health risk, and no guaranteed returns are the risks associated with starting a business enterprise. There are many rewards of running a business; these include freedom, job satisfaction, and financial gains.
Detailed explanation-4: -Window of opportunity – IPOs With some shares that might shoot up in price, there is a tiny window during the IPO before prices go sky high. This type of fleeting window of opportunity has become more common and critical since the advent of the Internet and the **IPOs of Google, Alibaba, Zynga, Twitter and Facebook.