Sarthaks Test
+1 vote
307 views
in Entrepreneurship by (64.1k points)

Why is scanning of environment considered as interface between spotting and product identification? Support your answer with at least one example.

1 Answer

+1 vote
by (106k points)
selected by
 
Best answer

An entrepreneur spots an opportunity to know the demand for the product and sustainable and profitable. He has to scan an environment by which the entrepreneur first identifies the key elements and characteristics. In the absence of environment scan, an entrepreneur can bear loss in business because lack of knowledge about the customers and its demand about the product. For example, in the form of electricity shortage or more demand of electricity, the entrepreneur spot opportunity. He, then scans the environment in order to know the need of electricity. Customers to produce a substitute of electricity would be a viable or not could only be sensed. After scanning an environment, he can move on to the identification to produce invertors or candles can be the substitute.

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.

Categories

...