ENT Lesson 7, 8, & 9 Review

A natural ability to know what to do in certain situations is called:

• homework

• surroundings

• instinct

• inflation

The 2nd stage in the entrepreneurial process is:

• Harvesting

• Business Plan

• Discovery

• Researching

The process of examining a product in detail to determine how it works, in order to produce something similar. is called:

• harvesting

• reverse engineering

• circumstantial discovery

• business plan

Entrepreneurship is built around an opportunity. And an opportunity often presents itself as a:

• business plan

• out-sourcing

• steady source of income

• solution to a problem

When inefficiencies in the market exist, entrepreneurship:

• flourishes

• is stymied

• flattens

• is inefficient

An elevator pitch is a short, succinct, and _________ sales pitch.

• lengthy

• detailed

• persuasive

• 
  conversational

Building and catering a business to respond to the increase in Spanish-speaking populations is an example of responding to:

• technological changes

• regulatory changes

• tax changes

• demographic changes

Entrepreneurism starts with and revolves around:

• 
  a balance sheet

• an income statement

• an opportunity

• depreciation

An entrepreneurial opportunity presents itself as:

• a way to put big corporations out of business

• a solution to a problem

• technology implementation

• a stock to purchase

One approach used to identify opportunities for business ventures that relies on the inner strengths and capabilities of the organization is called:

• Inside-Out

• Environmental Scan

• Demographics

• Outside-In