ENTREPRENEURSHIP

Previous
Next

INTRODUCTION TO ENTREPRENEURSHIP

DEFINITION OF ENTREPRENEURSHIP

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
There are three approaches entrepreneurs use to identify an opportunity their new venture can choose to pursue. The three approach are:
A
Observing Trends, Solving a Problem, Finding Gaps in the Marketplace and feedback
B
Observing Trends, Solving a Problem and Finding Gaps in the Marketplace
C
Observing Trends, Solving a Problem and Feedback
D
Observing Trends, Finding Gaps in the Marketplace and Solution
Explanation: 

Detailed explanation-1: -topic we will concentrate on three approaches namely: Observing trends. Solving a problem. Finding market gaps.

Detailed explanation-2: -Further, Schumpeter outlines that the sources of opportunities for this form of entrepreneurship are found in: technological changes, political/regulatory changes and socio-demographic changes (Schumpeter, 1947).

Detailed explanation-3: -According to entrepreneurs, three factors are most important for enabling a company’s growth: access to markets, the supply of human capital (i.e. people with the right skills for the job) and access to funding.

Detailed explanation-4: -There are three separate ways that entrepreneurs identify new business, product, and service opportunities, namely, trends observation, finding gaps, and problem solving.

There is 1 question to complete.
Previous
Next