Explain any three sources which lead to the emergence of basic ideas.

1.	Explain any three sources which lead to the emergence of basic ideas.
Answer» The various sources which lead to the emergence of basic ideas. (i) Problems: When a problem exists, an idea leads to a solution to resolve that problem, emerges as a business opportunity. (ii)Change: A change in social, legal, technological aspects etc. leads to new opportunities to start a business, (iii) Inventions: New products or services leads to new business opportunities. (iv)Competition: Competition often results in emergence of new and better ideas that result in new business opportunities. (v)Innovation: 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

Answer»

The various sources which lead to the emergence of basic ideas.

(i) Problems: When a problem exists, an idea leads to a solution to resolve that problem, emerges as a business opportunity.

(ii)Change: A change in social, legal, technological aspects etc. leads to new opportunities to start a business,

(iii) Inventions: New products or services leads to new business opportunities.

(iv)Competition: Competition often results in emergence of new and better ideas that result in new business opportunities.

(v)Innovation: 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

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