Asked by Louie Allard on May 27, 2024
Verified
Opportunity recognition is defined as ______.
A) recognition that ideas are not only new and potentially useful,but also have the potential to generate economic value
B) production of ideas for something new
C) production of ideas for something new that is also potentially useful
D) the results of brainstorming with friends and family
Opportunity Recognition
The ability to identify and evaluate potential business or investment opportunities within the environment.
Economic Value
The worth of a good or service determined by the market forces of supply and demand.
Potentially Useful
Describes something that has the capacity to be of benefit or service, possibly aiding in solving a problem or fulfilling a need.
- Define and distinguish between idea generation, creativity, and opportunity recognition in the entrepreneurial process.
Verified Answer
Learning Objectives
- Define and distinguish between idea generation, creativity, and opportunity recognition in the entrepreneurial process.
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