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Technology Ventures: From Idea to Enterprise 4th Edition by Thomas Byers,Richard Dorf ,Andrew Nelson
Edition 4ISBN: 978-0073523422Technology Ventures: From Idea to Enterprise 4th Edition by Thomas Byers,Richard Dorf ,Andrew Nelson
Edition 4ISBN: 978-0073523422 Exercise 1
1 What is the difference between an idea and an opportunity? Why is this difference important to entrepreneurs?
Explanation
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Idea:
The term "idea" refers to the plan that is generated by the thinking ability of the mind.
Opportunity:
The term "opportunity" can be referred to a promising situation or time for doing or achieving something.
• It is always watched in a positive way and it can be related to studies, a career and so on.
• Opportunity is simply referred as a "chance".
Difference between an idea and an opportunity:
Important of difference to entrepreneurs:
Entrepreneurs are the people who recognize and follow possibilities among needs, solutions among problems and opportunities among challenges. They create great and reliable businesses that show performance, leadership and durability.
Successful entrepreneurs are good at turning ideas into opportunities only when they know the actual meaning and difference of idea and opportunity. If the entrepreneurs do not know the difference, they may not act and execute the opportunity appropriately.
So, it is very important for every entrepreneur to know the difference between an idea and an opportunity.
The term "idea" refers to the plan that is generated by the thinking ability of the mind.
Opportunity:
The term "opportunity" can be referred to a promising situation or time for doing or achieving something.
• It is always watched in a positive way and it can be related to studies, a career and so on.
• Opportunity is simply referred as a "chance".
Difference between an idea and an opportunity:
Important of difference to entrepreneurs: Entrepreneurs are the people who recognize and follow possibilities among needs, solutions among problems and opportunities among challenges. They create great and reliable businesses that show performance, leadership and durability.
Successful entrepreneurs are good at turning ideas into opportunities only when they know the actual meaning and difference of idea and opportunity. If the entrepreneurs do not know the difference, they may not act and execute the opportunity appropriately.
So, it is very important for every entrepreneur to know the difference between an idea and an opportunity.
Technology Ventures: From Idea to Enterprise 4th Edition by Thomas Byers,Richard Dorf ,Andrew Nelson
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