ENTREPRENEURSHIP

Detailed explanation-1: -Recognizing and evaluating the business opportunity is the first step in the process of developing a business idea.

Detailed explanation-2: -– The first approach to identifying opportunities is to observe trends and study how they create opportunities for entrepreneurs to pursue.

Detailed explanation-3: -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-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