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The Entrepreneurial Process

Authored by Aaron Pollard

Business

10th Grade

Used 57+ times

The Entrepreneurial Process
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25 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Every business venture starts with

capital

an idea

a market

an opportunity

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the LAST step to be taken by an

entrepreneur in selecting a business

opportunity?

Preparing a business plan

Screening of business opportunity

Evaluating self and the

community

Identifying the needs and wants

of customers

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following can be

described as a full exit strategy?

Licensing

Shut down

Going public (IPO)

Family succession

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a characteristic

of a business idea?

Always abstract

May look bad at first

Always structured and systematic

Requires more than one person to

generate

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The first step in the entrepreneurial

process ESSENTIALLY involves

idea generation

resource mobilization

opportunity identification

business concept utilization

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Demographic segmentation strategies

separate potential customers into

age, gender and income

region, city and population

loyalty, product use and culture

lifestyle, social class and

education

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following factors should an

entrepreneur consider MOST when hiring

employees?

Skills and education

Wages, motivation and benefits

Skills, age and education

Performance appraisal, skills and

education

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