Recognizing Business Opportunities

Recognizing Business Opportunities

12th Grade

15 Qs

quiz-placeholder

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Recognizing Business Opportunities

Recognizing Business Opportunities

Assessment

Quiz

Other

12th Grade

Hard

Created by

Wayland Henderson

Used 7+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business opportunity?

A need for water, food, clothing, or shelter

A consumer need or want that can potentially be met by a new business

An idea for a neighborhood restaurant

A product or service that people desire

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between an idea and an opportunity?

An idea is a concept, while an opportunity is a feasible business plan

An idea is a good business opportunity, while an opportunity is a neighborhood restaurant

An idea is a potential business opportunity, while an opportunity is a calculated risk

An idea is a consumer need or want, while an opportunity is a product or service that people desire

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the five questions to determine if a business idea is a good opportunity?

Does the idea have commercial potential, will it attract customers, can it make a profit, do you have the necessary resources and skills, can it be put into action?

Does the idea fill a need or want, will it work in the planned location, can it be put into action in time, do you have the necessary resources and skills, can it make a profit?

Does the idea fill a need or want, will it work in the planned location, can it be put into action in time, do you have the resources and skills, can you provide it at a reasonable price?

Does the idea have a window of opportunity, will it work in a different location, can it be put into action before someone else, do you have the necessary resources and skills, can it attract customers?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some sources of business opportunities?

Problems, changes, trade resources, existing products and services, unique knowledge

Problems, creative thinking, new discoveries, existing products and services, unique knowledge

Problems, trade resources, critical thinking, existing products and services, unique knowledge

Problems, changes, new discoveries, existing products and services, unique knowledge

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where can you look for business opportunities?

Newspapers and magazines, business and governmental agencies, trade resources, critical thinking

Newspapers and magazines, business and governmental agencies, creative thinking, the World Wide Web

Newspapers and magazines, trade resources, creative thinking, the World Wide Web

Newspapers and magazines, business and governmental agencies, trade resources, the World Wide Web

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is creative thinking?

A thought process that involves looking at a situation or object in new ways

A process of thinking outside the box and using imagination

A process of generating ideas and recognizing opportunities

A logical thought process that involves analyzing and evaluating a situation or object

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some techniques to think more creatively?

Challenge the usual, think backward, be flexible

Challenge the usual, think forward, be rigid

Challenge the usual, think backward, be rigid

Challenge the usual, think forward, be flexible

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