by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
How Entrepreneurs encounter and take advantage of Opportunities?Understanding or identifying entrepreneurial opportunities is the focus of entrepreneurs, investors, and academics. By its very nature, entrepreneurship involves the commencement of something new. The...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
Should Entrepreneurs attempt to address a Need or Want?A business idea comes about through the identification of a need or want for a potential customer or client. Needs and wants are two dramatically different concepts for the entrepreneur. Most people have heard of...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the difference between an Entrepreneur and Inventor?As discussed in the previous chapter, the entrepreneur assembles resources around a source of value. More common than not, the entrepreneur is not the person who came up with the idea or invention. This...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
Do you Need Prior Experience to be an Entrepreneur?Prior experience or knowledge of the entrepreneur is a heavily studied characteristic in entrepreneurial behavior. Startups frequently emerge from entrepreneurs with lots of acquired knowledge or experience within the...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
Brainstorming New Business IdeasBrainstorming is a common and well-known problem-solving technique. It involves the concept of lateral thinking, which relies on individuals to ideate without inhibition or judgment to produce a high quantity of ideas. The freedom...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Individual Brainstorming? Brainstorming can be carried out in groups or alone. Research is divided on which produces the highest quality of ideas. Individual brainstorming, like group brainstorming, requires that the individual follow the same rules with minor...
