Sarthaks Test
0 votes
in Entrepreneurship by (64.1k points)
Explain any three sources which lead to the emergence of basic ideas.

1 Answer

0 votes
by (106k points)
selected by
Best answer

The various sources which lead to the emergence of basic ideas. 

(i) Problems: When a problem exists, an idea leads to a solution to resolve that problem, emerges as a business opportunity. 

(ii)Change: A change in social, legal, technological aspects etc. leads to new opportunities to start a business, 

(iii) Inventions: New products or services leads to new business opportunities. 

(iv)Competition: Competition often results in emergence of new and better ideas that result in new business opportunities. 

(v)Innovation: Creating new things of value as well as new and creative processes that add value to the existing products or services. For example, computers to tablets

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.