The Entrepreneurial Process
The entrepreneurial process, however, involves more than just problem solving. All entrepreneurs—private, corporate, and social—must find, evaluate, and develop an opportunity by overcoming the forces that resist the creation of something new. Understanding how entrepreneurship works requires recognition of the process involved and how to effectively manage that process. It is a process that can occur in different settings but changes due to the diversity that exists among private, corporate, and social contexts.
The entrepreneurial process has four distinct phases: (1) identification and evaluation of the opportunity, (2) development of the business plan, (3) determination and evaluation of resource requirements, ...
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