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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity4 Marks
Question
How are ideas generated?
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Answer

Ideas are generated on the basis of scanning of environment. It provides variety of situations out of which products or services can be selected. It can be streamlined by enlarging the scope of thinking and developing awareness for idea fields. Business ideas can be generated through:
  1. Careful analysis of market trends.
  2. Consumer needs.
  3. Through serendipity, i.e. creation of something new or discovery through accident.

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