Business Finance Homework Help

I’m working on a management discussion question and need an explanation and answer to help me learn.

One of the tenets of entrepreneurship is the ability to create new and useful ideas that solve the problems and challenges people face every day. “Entrepreneurs innovate,” said management legend Peter Drucker. “Innovation is the special instrument of entrepreneurship.” Entrepreneurs achieve success by creating value in the marketplace when they combine resources in new and different ways to gain a competitive edge over rivals.

• Explain how entrepreneurs spot business opportunities?
  

  Required Text

  Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small business management (11^th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN: 9780133506327 (print); 9780133508239 (e-text).