explain the steps involve in he process of enterpreneurship development.
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Answer:
Thus the four stages of the entrepreneurial process are defined as follows:
- Innovation, which includes generating the idea, innovation, identifying a market
opportunity, information search, conception, screening ideas for feasibility,
identifying where to extract value and the development of the product or service.
2. Triggering event, which includes gestation, the motivation to start a business,
the decision to proceed, the business planning, identifying the different resources
required, risk assessment, resource acquisition and assembling.
3. Implementation, which includes infancy, incorporation, setting up and launching
the new venture, business strategy, implementing the business plan, running the
business, deploying of resources, building success and managing the venture.
4. Growth which includes adolescence, maximizing profits, harvesting the rewards
and continually growing the venture to inc