Entrepreneurial Opportunity:

An entrepreneurial opportunity refers to a favorable set of circumstances that an entrepreneur can exploit to create a new business venture or expand an existing one. These opportunities can arise from various sources such as changes in technology, market demand, government policies, or social trends.

Perceiving Opportunity from:

Entrepreneurs perceive opportunities from various sources. Some of the common sources are problems and needs.

Problems:

Problems are situations that cause inconvenience, dissatisfaction, or harm to people. Entrepreneurs can identify problems and create solutions to address them. By doing so, they can establish a new business venture or improve an existing one. Examples of problems that entrepreneurs can solve include transportation, healthcare, education, security, and environmental issues.

Needs:

Needs refer to the desires or wants of people that are not being adequately satisfied. Entrepreneurs can identify needs and create products or services that fulfill them. By doing so, they can establish a new business venture or expand an existing one. Examples of needs that entrepreneurs can fulfill include entertainment, fashion, food, travel, and communication.

Problems and Needs:

Entrepreneurs can also perceive opportunities from both problems and needs. They can identify problems that are caused by unfulfilled needs and create solutions that address both. This approach can lead to the creation of innovative products or services that have a significant impact on society.

Conclusion:

In conclusion, entrepreneurial opportunities can arise from various sources such as problems and needs. Entrepreneurs who can identify and exploit these opportunities can create successful business ventures that provide value to society.

Motivation is a :
  (a) Psychological situation.
  (b) Economic situation.
  (c) Legal situation.
  (d) Social situation.