Option (b) is the best choice. On social media, a brand-new application for a product is discovered, or people in a target market want a service delivered right to their doors. These are examples of opportunity identification.
Opportunity identification combines three essential components: the background of the entrepreneur, the business effect, and the general business climate. Prior to "recognition," there are five stages of opportunity identification.
Getting an idea or scanning the environment, recognizing the opportunity, creating the opportunity, evaluating the opportunity, and evaluating the team are the five primary processes that make up the opportunity identification stage.
Finding opportunities is a crucial component of business expansion. It enables businesses to take the appropriate actions that will help them accomplish their objectives.
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