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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People lack in clarity on the things to do
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Un-favourable economic conditions with limited opportunity to gain and grow.
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Lack of understanding of customer needs and solutions to their problems
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Idea generation is not taught in educational courses
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Detailed explanation-1: -What is idea generation? Idea generation or ideation is the act of forming ideas. It is a creative process that encompasses the generation, development and communication of new thoughts and concepts, which become the basis of your innovation strategy.
Detailed explanation-2: -Idea generation is the first step for any product development. This requires you to look for feasible product options that can be executed. It is a very important step for organizations to solve their problems. It requires you to do market research and SWOT analysis.
Detailed explanation-3: -The final step in the entrepreneurial process may be the most difficult. It is one thing to write an excellent plan, and it is another to implement it and launch a new organization. One study found that, even among plans that won at business plan competitions, only 30% of those plans were put into action.
Detailed explanation-4: -Building the right team. Facing uncertainty. Handling skepticism. Feeling alone. Facing rejection. Lack of support. Decision-making. Learning to say no. More items •17-Sept-2022