The Three Ways to Identify an Opportunity Include Observing Trends

question 2

True/False

The three ways to identify an opportunity include observing trends, solving a problem, and finding gaps in the marketplace.

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Definitions:

Known To The Firm

This refers to individuals, businesses, or information that is already familiar or has an established relationship with the firm.

New Knowledge

Information, understanding, and skills acquired through research, study, or experience that was previously unknown.

New Ideas

Concepts, thoughts, or observations that have not been previously considered or explored, potentially leading to innovation.

Novel Ways

New and innovative methods or approaches to doing something.