Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company

Identification and Evaluation of the Opportunity

Opportunity identification and evaluation is a most difficult task. Entrepreneurship does not always begin with the creative concept for a new product, service, or process. It often begins with the entrepreneur’s alertness to identify an opportunity. Whether the opportunity is identified by using input from consumers, business associates, channel members, or technical experts, the entrepreneur needs to carefully screen and evaluate each opportunity. This evaluation of the opportunity is perhaps the most critical element of the entrepreneurial process as it assesses whether the specific product or service has the needed returns compared to the required resources. Offering a better product, service, ...