Doubtly
@Doubtly · Joined Feb 2021
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- What do you understand by market research? Market research is a process of working on various trends in market, it gives an organized effort to gathering information about target mark... 1
- What do you understand by supply position? Supply position is the complete picture of quantities of the product made available in the market by all the existing players. 1
- What should an entrepreneur do, “if the opportunity looks promising”? When the opportunity looks promising, an entrepreneur should look into the environmental factors before choosing the best opportunity. 1
- When is the illumination period starts for an entrepreneur? Illumination starts when an entrepreneur re-surfaces the idea in realistic way and entrepreneur comes out with viable plan to give practical... 1
- Why creativity is important to entreprneurs? Creativity is important to entrepreneurs because it is the first stage in the process of innovation, providing the stimulus for opportunity... 1
- How scanning of environment is beneficial to an entrepreneurs? Scanning of environment is always beneficial to an entrepreneur to know the present situation in the market, the various changes occurring i... 1
- How Peter F. Drucker defined the word entrepreneur? Peter F. Drucker defined entrepreneur as one who has always searches for an opportunity. 1
- What is the basic test for a successful entrepreneur? The basic test of a successful entrepreneur is the identification of business opportunity in the environment and initiating steps to produce... 1
- Market driven or demand driven ideas (a)For an entrepreneur market is the only place where he can carry out or generate maximum ideas. Such a study yields valuable data about tr... 1
- “An opportunity may be derived from the needs and problems of the society.” Comment. “An opportunity may be derived from the needs and problems of the society”. Yes, it is a correct statement. An entrepreneur is one who perce... 1
- What are the factors an entrepreneur has to keep in mind while assessing the market? (i) Demand: The demand assessment will be based on the size of market being targeted and also involve a study of the groups of consumers, th... 1
- What is Idea Generation? The process of creating, developing, and communicating ideas which are in an abstract, concrete, or visual form. It includes the process of... 1
- What is required to convert an idea into an opportunity? Sensing entrepreneurial opportunities is only a process of converting an idea into an opportunity and then into an enterprise. 2
- What is the meaning of trend spotting? It is an immediate identification of new trends like fashions, activities, designs, assumptions, etc. 1
- Define the term environment scanning. Environment scanning refers to careful monitoring of an organization’s internal and external environments for detecting early signs of oppor... 1
- What is a business opportunity? It refers to an attractive and accessable economic idea which could be implemented to create a business, earn maximum profit, and leads to f... 1
- Characteristics of Entrepreneurship Entrepreneurship is a process of setting up a new business organization. It is the process where one decides to build a business career by f... 1
- An entrepreneur must be an innovator. Innovation is a dynamic change brought by an entrepreneur by bringing new combinations of factors of production. Innovation by the entrepren... 1