entrepreneurship 1

It is the process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm.

• Sources of opportunity

• Opportunity seeking

• Opportunity seizing

• Opportunity screening

This is essential to opportunity seeking which allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations.

• Entrepreneurial mind frame

• Entrepreneurial heart flame

• Entrepreneurial gut game

• Entrepreneurial heart frame

It is the ability of entrepreneur that can sense without using the five senses, also known as intuition.

• Entrepreneurial mind frame

• Entrepreneurial gut game

• Entrepreneurial heart flame

• Entrepreneurial heart frame

What variable of societal environment includes income level and employment rate?

• Sociocultural forces

• Economic forces

• Political forces

• Technological forces

One of the essentials of entrepreneur’s opportunity seeking that refers to the driven passion of an individual.

• Entrepreneurial mind frame

• Entrepreneurial gut game

• Entrepreneurial heart flame

• Entrepreneurial heart frame

The intensity of rivalry among existing firms is characterized to the following factors except one:

• Diversity of rivals

• Number of competing firms

• Characteristics of the products or services.

• The product represents a high percentage of the buyer’s cost

The following are the forces competing within the industry except one

• Potential new entrants and Substitute Products

• Buyers and Suppliers

• Needs and Wants

• Rivalry among existing firms

Societal environment includes the following, except:

• Sociocultural forces

• Economic forces

• Natural resources

• Political forces

Which among the following is the result of identifying entrepreneurial opportunities?

• Sources of opportunity

• Entrepreneurial process

• Opening of entrepreneurial venture

• Creation of entrepreneurial ideas

Which of the following good sources of entrepreneurial ideas determine the interest, hobbies and preferences of people.

• Changes in the environment

• Technological discovery

• People’s interest

• Past experiences