Question

Examine the sources from where business ideas emerge.

Answer 1

Basic ideas emerge from various sources. These ideas can be categorized as follows :

Problems	Change	Inventions	Competition	Innovations
Solutions of a problem is often picked up as opportunity.	Any kind of change like social , legal , technological , political , etc .., user in new business opportunities . e.g.. Health care centre in the present world .	These involve new things of value and creative processes that add value to the already prevalent brands or products. e.g. Canon printers with scanner and photocopier , fully automatic washing machines.	For getting ahead , the entrepreneur introduces new and improved ideas and various sales promotions techniques e.g.., free gift with a sale of product like toothbrush as a gift  with toothpaste .	It includes creating new things of value as well as new and creative processes that add value to the existing products or services. For example , computers to tablets .