INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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problems that need solving
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new discoveries
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changes in laws
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all of the above
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Detailed explanation-1: -The following approaches to generate business ideas can be used by an entrepreneur while exploring the different sources of business ideas: (i)Brainstorming. (ii)New ways of doing old things. (iii)Converting hobby into business. (iv)Improving an existing product.
Detailed explanation-2: -Past work experience/ spin-off from employment. Recommended for you. Hobbies, talents, and interests. Customer surveys. Brainstorming. Expert consultations. Market gap analysis. Family and friends. Research and development. More items
Detailed explanation-3: -Find opportunities in your own community. Draw upon your own personal experiences. Look for ideas that get other people involved. Go out of your way to ask others how you can help. Give back through meaningful philanthropical work. More items •09-Jan-2019
Detailed explanation-4: -Create a strong unique brand. Have a business plan. Know your unique selling points and capitalise on them. Budget for ongoing costs. Measure, don’t assume, demand. Set yourself apart from the competition. Work out your profit forecast. Consider up-skilling. More items •16-Mar-2018