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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity5 Marks
Question
Describe the process of testing ideas for assessing their “opportunity potential”.
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Answer

The process of testing ideas for assessing their opportunity potential can be divided into following steps:
  1. Identification.
  2. Evaluation of use and application.
  3. Level of operation.
  4. Cost.
  5. Competition.
  6. Selection of technique of production.

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