The evaluation phase of opportunity recognition occurs when an entrepreneur has an insight about a new business venture,often based on prior knowledge.

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The discovery phase refers to the process of becoming aware of a new business concept. Many entrepreneurs report that their idea for a new venture occurred to them in an instant in which they had some insight or epiphany, often based on their prior knowledge, and that gave them an idea for a new business.

The Evaluation Phase of Opportunity Recognition Occurs When an Entrepreneur