Evaluation of Creative and Discovery Context of Entrepreneurial Opportunities

Sources of
Opportunities

Contents
INTORDUCTION...........................................................................................................................3
1 a.Evaluate the creative and discovery context of entrepreneurial opportunities......................3
Explain entrepreneurial opportunities..........................................................................................3
Explain opportunity creation and opportunity discovery............................................................3
Discuss the similarities between opportunity creation and opportunity discovery.....................4
Discuss the differences between opportunity creation and discovery.........................................4
Explain opportunity exploitation.................................................................................................4
Evaluation of strategies that is used in effective exploitation of opportunities...........................5
1b. Dimension of entrepreneurial opportunities..........................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTORDUCTION
Entrepreneur is the person who brings the innovative ideas for creating something new at
workplace in order to attain goal and objective of organization in stipulated time period. It sold
their products and services in order to maximize profit in future time period. In this report, the
entrepreneurial opportunities are described in an effective manner (Gans, Stern and Wu, 2019).
In addition to this, there is difference and similarities among opportunity creation and discovery.
They want to grab opportunities by using different strategies such as collaborations, market
orientation, formation as well as network is mentioned in this report.
1a. Evaluate the creative and discovery context of entrepreneurial opportunities
Explain entrepreneurial opportunities
Entrepreneurial opportunities are considered as the process in which products as well as
services is sold at a cost more than the production cost. In other words, it is the condition where
entrepreneur focuses on taking effective action in order to earn more and more profit. In addition
to this, the entrepreneur brings new ideas for gaining competitive advantage over rival firm at
marketplace.
Explain opportunity creation and opportunity discovery
There is difference among opportunity creation as well as discovery which is going to be
mentioned below:
Opportunities creation: It is considered as the subjective statement. It is the process
which includes potential to generate something innovative in order to create economic value.
They bring new ideas as well as belief for creativity within organization. It is necessary to bring
creativity because it aid assistance to organization in making more profit in future time period. It
is vital for company to implement new ideas for increasing profit within business organization.
Opportunities discovery: It is determined as an objective statement. Herein, it is the
approach in which opportunities was comprehended. In addition to this, the opportunity has been
realized in this process in order to discover something unique in an effective manner (Foss and