INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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Decisiveness
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Emotional
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Awareness
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Indifference
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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: -Entrepreneurs should observe at least four types of trends-economic, social, technological and regulatory-to identify business opportunities and grow their startups.
Detailed explanation-3: -Identify Your Pain Points. When searching for potential market needs, start with yourself. Conduct Market Research. Another way to prove whether a business idea is viable is by conducting market research. Question Processes. 05-Apr-2022
Detailed explanation-4: -Vision. Innovation cannot happen without vision, the ability to not only recognize opportunity and connect dots, but also the wherewithal to question why a solution does not exist to a problem. Passion. Adaptability. Resilience.