Entrepreneurial Behavior

Name: Leziel Inalisan Date: September

07,2021
Course: BSE1

ACTIVITY 2: Answer the following.

1. What is the first step of the Entrepreneurial Process?

=Discovery

2. In the entrepreneurial process, what does an entrepreneur

needs to create once the opportunity is identified?
= Once the opportunity is identified, the entrepreneur needs to
create a complete and comprehensive business plan.

3. What is the final step of the entrepreneurial process?

=Harvesting

4. Discuss what is entrepreneurial opportunity?

= The point at which identifiable consumer demand meets the
practicality of providing the requested product or service is
referred to as an entrepreneurial opportunity. An entrepreneurial
opportunity arises from seeing a problem and making a concerted
effort to fix that problem.
Entrepreneurial opportunities are typically characterized as
instances in which products and services can be offered for a
 higher price than the cost of production. Thus, a 'entrepreneurial
opportunity' is a scenario in which entrepreneurs can take action
to profit.

5. What is entrepreneurial resource?

=Entrepreneurial Resource are defined as the propensity of an
individual to behave creatively, act with foresight, use intuition,
and be alert to new opportunities. It also includes sources of
financing such as lines of credit and investment capital, but it may
also include abstract resources such as knowledge of a particular
field or technology, or network of contacts who can be called
upon to contribute financial support, publicity, or other benefits
to a growing enterprise. This is important part of business world
as it helps our business to grow and expand more.