Title: Explain entrepreneurial roots of opportunity.
Course: Entrepreneurship (12053-I) > Section: Understanding Entrepreneurship

Explanation should include factors in identifying entrepreneurial opportunities, such as

- recognition of a problem and a solution
- changes in laws or trends
- inventions and new discoveries
- existing products/services
- unique knowledge, talent, or proposition (e.g., personal experience, problem, or need)
- competition disruption.

Process/Skill Questions:

- How can changing demographics affect product selection in an entrepreneurial business?
- How can shifts in the cultural diversity of a community produce entrepreneurial opportunities? How can other changes in demand affect entrepreneurial opportunities?
- How can business opportunities be created during times of inflation? During a lagging housing market? When interest rates are low?
- How can global trends encourage local business opportunities?
- How might current events affect an entrepreneurial business?
- How do international events (e.g., war, strikes, civil unrest, pandemics, inflation, natural disasters) affect entrepreneurial businesses?
- How might changes to local, state, and federal laws provide new entrepreneurial opportunities?
- How might new technologies provide new entrepreneurial opportunities?
- How can one recognize business opportunities in other people's perceived wants and needs?