EP CHAPTER-1 NOTES CLASS 12 CBSE
EP NOTES CLASS 12 CBSE Problem identification A problem is a roadblock in a situation, something that sets up a conflict and forces you to find a solution. When an entrepreneur identifies such a roadblock, he/she is said to have identified the problem. Objectives of problem identification: It should clearly state the problem Identify the target group facing the problem Find the market acceptability of the solution to the problem. Uses of problem Identification It helps the entrepreneur to: 1. Bring out new products in the market 2. Understand the problems and needs of the market 3. Be creative 4. Increase employment generation 5. Increase national income (of the country) Idea generation The process of creating, developing, and communicating ideas which are abstract, concrete, or visual. It includes the process of constructing through the idea, innovating the concept, developing the process, and bringing the concept to reality. Some business ideas come from a careful analysis of ma...