why sensing of opportunities is essential? …
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Meghna Thapar 4 years, 9 months ago
A business opportunity is an attractive economic idea which could be implemented to create a business, earn profits and ensure further growth. Entrepreneurs perceive opportunities quickly, synthesize the available information and analyse emerging patterns that escape the attention of other people.
Factors Involved in Sensing Opportunities
To sense an entrepreneurial opportunity, an entrepreneur employs his sharpened skills of observation, analysis and synthesis to identify an opening. The most important factors that are involved in this process are:
(i) Ability to perceive and preserve basic ideas which could be used commercially.
(ii) Ability to harness different sources of information.
(iii) Vision and creativity.
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