An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business.

Question

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An opportunity can arise from a variety of circumstances, such as changes in technology, shifts in consumer behavior, or gaps in the market. When these favorable conditions exist, entrepreneurs may identify a need for a new product, service, or business that can address those opportunities and capture value. Therefore, an opportunity can create a context for innovation and growth.

An Opportunity Is a Favorable Set of Circumstances That Creates