Mention the four main stages of the entrepreneurship development process
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Entrepreneurial process stages
- Idea generation. The entrepreneur begins to wonder why there is not available a product or service, why not improve certain things, how to generate income to cover their expenses, etc. ...
- Decision making and business planning. ...
- Project creation. ...
- Management and control.
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ᴇɴᴛʀᴇᴘʀᴇɴᴇᴜʀɪᴀʟ ᴘʀᴏᴄᴇss sᴛᴀɢᴇs :-
- ɪᴅᴇᴀ ɢᴇɴᴇʀᴀᴛɪᴏɴ. ᴛʜᴇ ᴇɴᴛʀᴇᴘʀᴇɴᴇᴜʀ ʙᴇɢɪɴs ᴛᴏ ᴡᴏɴᴅᴇʀ ᴡʜʏ ᴛʜᴇʀᴇ ɪs ɴᴏᴛ ᴀᴠᴀɪʟᴀʙʟᴇ ᴀ ᴘʀᴏᴅᴜᴄᴛ ᴏʀ sᴇʀᴠɪᴄᴇ, ᴡʜʏ ɴᴏᴛ ɪᴍᴘʀᴏᴠᴇ ᴄᴇʀᴛᴀɪɴ ᴛʜɪɴɢs, ʜᴏᴡ ᴛᴏ ɢᴇɴᴇʀᴀᴛᴇ ɪɴᴄᴏᴍᴇ ᴛᴏ ᴄᴏᴠᴇʀ ᴛʜᴇɪʀ ᴇxᴘᴇɴsᴇs, ᴇᴛᴄ.
- ᴅᴇᴄɪsɪᴏɴ ᴍᴀᴋɪɴɢ ᴀɴᴅ ʙᴜsɪɴᴇss ᴘʟᴀɴɴɪɴɢ.
- ᴘʀᴏᴊᴇᴄᴛ ᴄʀᴇᴀᴛɪᴏɴ.
- ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴀɴᴅ ᴄᴏɴᴛʀᴏʟ.
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