Identification of Business Opportunities


Upon completion of this chapter, you should be able to:

  1. Identify the sources of business ideas.


  2. Explain methods for generating new business ideas.


  3. Understand the difference between a business idea and a business opportunity.


  4. Identify various entrepreneurial opportunities.


  5. Understand the nature of the occupational and geographical mobility of entrepreneurs.


  6. Discuss business opportunities in India.


  7. Explain the Ramp Model and Mullins’s Seven-domain Framework for evaluating entrepreneurial opportunities.

A business opportunity may be defined as a set of favourable circumstances in which an entrepreneur can exploit a new business idea that has the potential ...

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