Entrepreneurship Theory and Practice

ENTREPRENEURSHIP
THEORY AND PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................................4
Explaining discovery and creation in entrepreneurial opportunity.........................................................4
REFERENCES................................................................................................................................................8

INTRODUCTION
The present report is based on the topic entrepreneurship theory and practice. The report will
discuss about the creation and discovery in context of entrepreneurial opportunities. Along with
this it will also discuss three farm level capabilities that can be used in effective exploitation of
opportunities. By the evolution of a bug report it will also discuss about the dimension of
entrepreneurial orientation.
Explaining discovery and creation in entrepreneurial opportunity
Creation in entrepreneurial opportunity are related to providing backgrounds that are related to
formation an empowering the opportunity creation (Au, 2018). It is related to picking up
personalities in which nor supply and demand parties exist clearly but both of them are created.
Discovery theory add maintaining the opportunities data exist objectively independent of
entrepreneurs on the other hand creation theory are used at opportunities came from the actions
of individual. but it includes different types of opportunities that are related to creative problem
solving perspectives and to define opportunities that are related to identification is the process
that involves discovery that are related to problem and creation of a solution. the entrepreneur
developer team model to facilitate different opportunities identification that is impressing it all of
individual data prior to the knowledge which are related to team setting along with the relevance
which are related to creativity skills and process. Mainly the Opportunities are discovered and
ideas were able to create value for target customers and by this the market was created. Some
entrepreneurs know how to discover new opportunities without going after them. Opportunity is
known as remember where discovery is a subjective process that is linked to the individual.
Opportunity that is discovered by the Entrepreneurs in the market has to be constructed and
created (Shepherd and Gruber, 2020).
The three farm level capabilities and strategies that can be used in effective exploitation of
opportunities are
Marketing and market orientation it helps in improving the firm’s current expertise or on the
other hand it also requirements of development that is related to new skills and knowledge.
market orientations helps entrepreneurs to combine exploration strategies and market
exploitations that is by providing a unifying frame or other types of difference that help them to