Unit 2-Testing and Evaluating Opportunities

What does a S.W.O.T Analysis stand for?

(a)  

What is a customer need or want that can be met by a new business called?

• Business Marketing

• Business Opportunity

• Business Validation

• Business Data

What is a business opportunity that has been tested and proven to be a business opportunity with data called?

• Validated Target Opportunity

• Validated Marketing Opportunity

• Validated Data Opportunity

• Validated Business Opportunity

A value of what you will give up to get something is called Opportunity Cost.

• True

• False

When a business owner carefully considers the potential costs and benefits before starting a business what is that called?

• Testing an opportunity

• Calculated Risk

• Collecting Data

When an entrepreneur see the possibility of pursuing a business idea it is called?

• Marketability

• Feasibility

• Stability

• Accountability

All business ideas can be a business opportunities.

• True

• False

There are 8 parts of the Lean Canvas Business Model.

• True

• False

Entrepreneurs must validate their business opportunity with_______.

• calculated risk

• cost

• ideas

• data

The SWOT Analysis is a tool that helps entrepreneurs validate their best business ________.

• ideas

• data

• risk

• feedback