The correct answer is Option (2) → (B), (A), (C), (D)
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(B) Opportunity spotting by analysing the needs and problems that exist in the environment: The process begins with identifying a gap, problem, or unmet need in the market which can be turned into a business opportunity. (Discovery/Idea Generation)
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(A) Evaluating the ideas received from different sources to find a creative solution: After spotting potential opportunities, the entrepreneur assesses and refines various ideas, often through a feasibility study, to develop a creative and viable business concept. (Idea Evaluation/Feasibility Analysis)
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(C) Identifying a product or service through innovation: Once a viable solution has been identified and validated, it leads to the concrete identification and formulation of the innovative product or service that will address the opportunity. (Concept Development/Business Planning)
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(D) Setting up a project and nurturing it to success: This is the stage of execution, which involves mobilizing resources (financial, human, technical), launching the venture, and managing its growth and operations to achieve success. (Resourcing/Actualization/Launch and Growth)
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