Question

Shutterstock was started by an amateur photographer who needed a little extra money on the side. The founder Jon Oringer saw a gap in the market and took it, setting up space online to sell stock images from his personal photo library. He teamed up his hobby of photography with his professional software skills and his side hustle creation became one of the world’s biggest stock companies. In light of the abstract Identify and discuss core entrepreneurial competencies that relates to Shutterstock stable competencies, talent, recognition of opportunity, managing risks, being creative in solving problems and building and using network

Answer 1

The core entrepreneurial competencies related to Shutterstock include recognition of opportunity, managing risks, being creative in solving problems, and building and using networks.

Step-by-step explanation:

The core entrepreneurial competencies related to Shutterstock include:

• Recognition of opportunity: Jon Oringer identified the gap in the market for stock images and saw the opportunity to set up an online space to sell images from his personal library.
• Managing risks: Starting a new venture like Shutterstock involves taking risks, such as investing time and money. Oringer took the risk and successfully built the company.
• Being creative in solving problems: Oringer combined his photography hobby with his software skills to create an innovative solution for selling stock images online.
• Building and using networks: As Shutterstock grew, Oringer built a network of photographers and customers, which contributed to the company's success.