ENTREPRENEURSHIP

Detailed explanation-1: -1. Innovation. It is the time when the entrepreneur generates the innovative idea, identifies the market opportunity, and look for information. Also, it begins to see the feasibility of ideas, the ability to get value from it and how to generate the development of the product or service.

Detailed explanation-2: -Thus the four stages of the entrepreneurial process are defined as follows: 1. Innovation, which includes generating the idea, innovation, identifying a market opportunity, information search, conception, screening ideas for feasibility, identifying where to extract value and the development of the product or service.

Detailed explanation-3: -Opportunity discovery is a systematic innovation process that generates new ideas, combines them to form potential opportunities, and then identifies the most promising ones for analysis that establishes the basis for commercial development.

Detailed explanation-4: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.

Detailed explanation-5: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019