2) Why is ongoing evaluation and utilisation of opportunities important for the entrepreneur?

Anonymous User
Anonymous User
Asked May 08, 2011
Why do I get the idea that this is the second question from a school quiz, asked about a chapter in a textbook that neither you nor I have read?
Rob
Answered May 08, 2011
An entrepreneur's role is to find gaps in the market and fill them. Also defined as: finding and meeting needs. Example: Maurice and Richard McDonald devised the: "Speedee Service System" to sell burgers - McDonalds fast food as we know it - but it was, Raymond Kroc a milkshake machine salesman, who franchised McDonalds across America and made 500 hundred million dollars.
Kroc's job allowed him to see a lot of burger joints (evaluation) so when he found that McDonalds was the best organised, he bought into it (utilisation of opportunity). Kroc did not invent the fast food concept, but he was the one who made it popular by spotting an opportunity, as such he was an entrepreneur.
badmofo
Answered May 08, 2011

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