________ is the first step of the entrepreneurial process.

Question

Quizplus · Accepted Answer

Opportunity identification is the first step of the entrepreneurial process as it involves recognizing a potential business opportunity or a gap in the market that can be filled by a new product, service or idea. This step lays the foundation for the rest of the entrepreneurial process, including opportunity evaluation, exploitation, feedback and risk assessment. Without identifying an opportunity, there can be no entrepreneurial venture.

________ Is the First Step of the Entrepreneurial Process