Which of the following best describe Entrepreneurial Opportunity?

• Situations in which new products, services and processes can be introduced and sold at greater than the cost of production

• Situations in which new products, services and processes can be predicted to have higher sales than similar existing products

• Situations in which existing products, services and processes shows decline is sales and in need of alteration

• Situations in which products, services and processes can be produced whenever the resources are ready

"Short period of time during which an opportunity must be acted on" is the definition of

• Entrepreneurial opportunity

• Changing Opportunity

• Window of opportunity

• Attractive opportunity

Which of the following best describe picture?

• Opportunity Analysis

• Changing Approach

• Window of Opportunity

• Attracting Strategy

Which of the following is true about Internal Factors of Opportunity Evaluation?

• Market which involves determining the size of the market and the potential customers

• Resources which include financial, physical and human resources consistent with magnitude of business venture

• Financial which involves costs to be incurred in developing the business venture

• Technical which involves determining the requirements to proceed with the idea include machineries, raw materials, infrastructure and the processes

Which of the following is true about feasibility study?

• A tool to identify whether the business idea is feasible or not

• A final discussion identify whether the business idea is feasible or not

• A decision to identify whether the product prototype is feasible or not

• A questionnaire to stakeholders to identify whether the business idea is feasible or not

Which is not included in factors to be considered in making the decision?

• The product will give significant value to the customer

• The entrepreneur can attract the necessary financial, physical, and human resources required by the venture opportunity

• The sales price should always be relatively lower than competitor's price

• The expected return of the venture is consistent with the risk of the venture

Which is true about technology-based idea blueprint?

• Document summarizes the entrepreneur's proposal of a business venture

• Document showing the past history of entrepreneur's proposals of a product

• Document recording all of the entrepreneur's ideas of a product improvement

• Document categorizing the technology used in a product that is about to be commercialized

Which of the following is not included in Characteristics of an Attractive Opportunity?

• Important

• Long-lasting

• Solvable

• Profitable