Question: a) Entrepreneurs either intentionally or unwittingly use three basic approaches to identify a business opportunity. Those three basic approaches are observing trends, recognizing and solving

a) Entrepreneurs either intentionally or unwittingly use three basic approaches to identify a business opportunity. Those three basic approaches are observing trends, recognizing and solving a problem and finding gaps in the marketplace. Explain with suitable examples, how new business ideas are developed by entrepreneurs using these three approaches.

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