How does entrepreneurs identify businesses opportunities?
Answers
A key question that all would-be entrepreneursface is finding the business opportunity that is right for them. ... In the process, he offers insights into how entrepreneurs can identify new business opportunities and evaluate their potential and their risks.
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Answer: An entrepreneur identifies his business opportunities by doing SWOT analysis.
Explanation:
SWOT : SWOT is acronym for strength, weakness, opportunity and threats. While strengths and weaknesses can be identified by analysing the internal environment, opportunities and threats can be identified by analysing the external environment.
Opportunity : An opportunity is a favourable condition in the company's external environment which enables it to strengthen its position.