INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is opportunity recognition?
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Developing a product, service, process, or niche that has not existed before
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Using creative skills to identify a new innovation based on something existing in the marketplace
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Bringing two ideas together that are normally not juxtaposed
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The result of the connection in the form of an idea
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Explanation:
Detailed explanation-1: -Creativity-based Model of Entrepreneurial Opportunity Recognition* Firms engage in entrepreneurship to increase performance through both strategic renewal and the creation of new venture opportunities. Organizational learning (OL) has become an effective avenue for strategic renewal.
Detailed explanation-2: -Entrepreneurship is defined as the recognition of opportunities (i.e., needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.
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