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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity4 Marks
Question
Explain 'Ability to perceive and preserve basic ideas' as an important factor involved in the process of sensing opportunities.
✓

Answer

Spotting of a basic idea often triggers a process of sensing an opportunity.
However, every idea is not an opportunity hut it is based on what consumers want. Basic ideas emerges from different sources as:
  1. Problems.
  2. Change.
  3. Inventions.
  4. Competitions.
Basically an entrepreneur is open to receive ideas from different sources. This expects the entrepreneur to be a net-worker besides having the ability to recognise and nurture the potential ideas into a venture. An entrepreneur needs to collect inputs from different sources like magazines, journals. books. seminars, trade show etc., as well as from family, friends and customers.

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