Opportunity identification is related to what?
Answer and explanation
Correct answer: Seeing business possibility in a problem or need
An opportunity may arise when an entrepreneur notices an unmet need, an inconvenience, or a problem faced by people. The entrepreneur then considers whether a useful product or service can address it and create value. Thus option A is correct; ignoring customers and the market prevents opportunity recognition.
Frequently asked questions
What is the correct answer to this question?
Seeing business possibility in a problem or need
Why is this the correct answer?
An opportunity may arise when an entrepreneur notices an unmet need, an inconvenience, or a problem faced by people. The entrepreneur then considers whether a useful product or service can address it and create value. Thus option A is correct; ignoring customers and the market prevents opportunity recognition.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
