Examine the sources from where business ideas emerge. - Vidyadip

Question

Examine the sources from where business ideas emerge.

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Answer

Basic ideas emerge from various sources. These ideas can be categorized as follows:

Problems	Change	Inventions	Competition	Innovation
Solution of the problemis often picked up as opportunity.	Any kind of change like social, legal, technological, political, etc., user in new business opportunities. e.g.,Health care centre in present world.	These involve new thing of value and creative process that add value to the already prevalent brands or product e.g. Automatic Washing machine.	For getting ahead, the entrepreneur introdyce new and improved ideas and various sales promotions techniques e.g., free gift with a sale of product like Brush with toothpaste.	It includes creating new thing of value as well as new and creative processes that add value to the existing products or service. For example, computer to table.

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