INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Non Field of Reference and Non Field of Experience
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Field of Reference and Field of Experience
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Non Field of Reference and Non Experience
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None of the above
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Detailed explanation-1: -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-2: -Figure out a problem that your idea solves. Research the competition. See a business consultant. Find a market for your idea. Find support and build your team. Create your business plan. Find investors for your idea. More items
Detailed explanation-3: -Clarity. Leaders can choose to rely on Occam’s razor. Usability. Does the idea fulfill a practical need? Stability. Is this a niche idea answering a one-time unique need or customer demand? Scalability. Is the prototype capable of being scaled? Stickiness. Integration. Profitability. 03-Jun-2016
Detailed explanation-4: -Look at Your Skill Set. Identify Underserved Needs. Invent a New Product or Service. Add Value to an Existing Product. Investigate Other Markets. Get on the Bandwagon. 13-Sept-2022