ENT 1-2 The Entrepreneurial Process, Part 1

Front

What is one example of a change in technology that has led to entrepreneurial opportunities? Options: The invention of the internet, The development of social media, The rise of e-commerce, All of the above.

Back

All of the above.

Front

What is the purpose of including findings from market research in a business plan?

Back

To identify potential challenges and solutions, to demonstrate the potential market for a product or service, and to secure funding from investors.

Front

What is the purpose of a business plan in the entrepreneurial process?

Back

To identify potential challenges and solutions, to outline the steps for starting a business, and to secure funding from investors.

Front

What was Sara Blakely's background before becoming a successful entrepreneur? Options: She was a former teacher and social worker., She was a former investment banker and marketing executive., She was a former lawyer and accountant., She was a former Disney World ride greeter and sold fax machines door-to-door.

Back

She was a former Disney World ride greeter and sold fax machines door-to-door.

Front

What is the purpose of the business plan in the entrepreneurial process?

Back

To provide a roadmap for the business, to secure funding, to outline the company's goals and objectives.

Front

What is one way entrepreneurs can identify and pursue opportunities? Options: Networking with other entrepreneurs, Attending trade shows and conferences, Conducting market research, All of the above.

Back

All of the above.

Front

What is the purpose of resourcing in the entrepreneurial process? Options: To identify potential investors, To enter pitch contests, To gather necessary elements to start a business, All of the above

Back

All of the above

Front

What are the three features that an idea must have to become an opportunity? Options: Market, margin, and marketing, Market, margin, and management, Market, money, and mission, Market, margin, and mission

Back

Market, margin, and mission

Front

Which of the following is NOT an example of a successful entrepreneur and their product? Bill Gates - Microsoft Office, Mark Zuckerberg - Facebook, Oprah Winfrey - The Oprah Winfrey Show, Elon Musk - Tesla

Back

Oprah Winfrey - The Oprah Winfrey Show

Front

What is the official definition of entrepreneurial discovery?

Back

The process of systematically scanning for changes in the market.