MODULE 2 SESSION 2

THEORETICAL
VIEWS OF
“THE ENTREPRENEUR
ALWAYS SEARCHES FOR

CREATION OF
CHANGE, RESPONDS TO IT,
AND EXPLOITS IT AS AN
OPPORTUNITY.”

OPPORTUNITY PETER DRUCKER

Corral, Angelica| BS Entrepreneurship

| October 12, 2020
LET'S TRY THIS
Answer the following questions below.
1. How does innovation occur?
Innovation happens when a diverse set of skills integrated to solve
problems effectively. Indeed breakthrough innovations are never a single event,
nor are they achieved by one person or even within a single group. Instead, they
occur when ideas combine to solve significant problems observed and analyzed.
Almost all innovations started with a vision to solve a particular issue that
started in yourself or in your community that you want something to change or
improve.

2. Explain the difference between an opportunity and an idea.

For me, the idea is what you think about, you imagined, brainstormed
that generated from your mind and based on what you observed in your
surroundings or problems that arose. While the opportunity is an unexpected
moment that happens in life or situation that you could find an advantage to
make something out of it or through it by making an profitable business.

Business ideas and business

opportunities are similar in the fact that
they're both concepts. But the critical
distinction among business idea and a
business opportunity is that business ideas
are unproven concepts while business
opportunities are proven concepts.

The reason that business ideas are unproven because it may or may
not represent an opportunity. Business opportunities are a proven concept
because you don’t have to start conceptualizing from the get-go. You simply
study the market and find a way to play a role in it alongside other businesses
operating successfully in it for many years. Entrepreneurs take advantage of
business opportunities because the risks are far much lower than an unproven
business idea, and they create more significant chances of success for the
entrepreneurs.