Assalamualaikum and Salam Sejahtera, I’m Syazaliyana Bt Mohamed Saaban from DSK2A. I want to tell about what I’ve learned in week 2 about subject Entrepreneur. So, in week 2 I’ve learned about Chapter 2. Its about Business Idea and Opportunities. The definition of Business Idea and Opportunity is a concept that can be used to make money. It focuses on a product or service that can be offered in exchange for money.
Next, in the same chapter I’ve also learned about Primary and Secondary Sources of Business Ideas and Opportunities. A business idea and opportunity can be obtained through primary and secondary sources. These sources will provide the types of information needed by an entrepreneur to effectively identify opportunities or evaluate ideas.
Also, I’ve learned about Sources of Innovative Business Idea and Opportunities. Four such areas of opportunity exist within a company or industry or known as internal sources of business opportunity are unexpected occurrences, incongruities, process need and market changes, while demographics, change in perception and new knowledge are external sources.
Moreover, I also learned about Process of Recognizing, Analyzing and Choosing a Business Opportunity. For an entrepreneur, identifying, analysing, and choosing business opportunities are essential to determine if the venture can make profits and sustain its comoetitveness.