Final answer:
Opportunity recognition in the field of business involves the discovery and execution phases. It requires individuals to identify potential opportunities and implement them effectively.
Step-by-step explanation:
Opportunity recognition is a crucial aspect of the business field. It involves two phases: discovery and execution. During the discovery phase, individuals identify potential opportunities by exploring possibilities, researching new ideas, and staying curious about the world around them. The execution phase focuses on implementing and testing the identified opportunities to bring them to fruition.