BES 04 CHAPTER 1

Are people who identify and pursue solutions among problems, possibilities among needs, and opportunities among challenges.

- is defined as the process by which individuals pursue opportunities without regard to resources they currently control.

-in a nutshell is “Creating the NEW and destroying the OLD” with new knowledge, new products, new processes, new services, new markets and new business

The three primary reasons that people become entrepreneurs

The ability to fashion a solid idea into a viable business is a key characteristic of successful entrepreneurs. --execution intelligence is the factor that determines whether a start-up is successful or fails.

At this stage, the individual toys with various thoughts coming across his/her mind.

Check their feasibility and drop infeasible ideas.

Is the process of using surveys and other qualitative methods to evaluate consumer acceptance of a new product idea prior to the introduction of a product to the market

Is a need to develop a holistic view of business problems and evaluate business operations to improve core processes.

G enables the technopreneur to capture customer expectations with precision and improve upon the actual product.

Is an experiment conducted in the test market consisting of actual markets and real-life buying, without the buyers being aware of evaluation exercises.

At this stage, the idea finally takes the shape of a full-grown product and is launched in the market for financial gains

At this stage the idea has transformed into a product and is currently circulated in actual markets to end consumers