Precision Hawk,a company using drones to do aerial data analysis reached out to Hahn Estate Winery to understand their needs in analyzing crop health.Precision Hawk was conversing with Hahn Estate Winery in order to
A) offer to build a new winery.
B) get into wine production.
C) develop a focus strategy.
D) identify an opportunity.

Question

Quizplus · Accepted Answer

Experienced entrepreneurs discussing ways to look for new entrepreneurial opportunities identify several ways to undertake a structured search for entrepreneurial ideas. One of these is to talk to people who are in a potential market of interest. This activity is called opportunity recognition, which is the process of discovering and evaluating changes in the business environment, such as a new technology, sociocultural trends, or shifts in consumer demand, that can be exploited. These discussions can lead to insights on how the stakeholder needs are not being met and can also open avenues to hear what they would like to see in new products and processes.

Precision Hawk,a Company Using Drones to Do Aerial Data Analysis