Entrepreneurial journey CH-3

Which of these is not a misconceptions and realities?

• Great ideas just appear out of nowhere

• There are no illogical ideas

• The customer will tell you what to do it you only listen

• Great ideas are a problem and implementing them is also a problem

'Attribute listing' is a part of which way to Generate ideas?

• Environment Scanning

• Creativity and problem solving

• Brainstorming

• Focus groups

A systematic and in-depth study is undertaken to obtain useful data to determine demand supply position for a particular product or service that is already available in the market.

Which way is to generate ideas?

• Environment scanning

• Brainstorming

• Focus groups

• Market research

Most entrepreneurs have limited amount of money, time, people or other resources that will be needed to pursue their entrepreneurial ideas by evaluating their entrepreneurial ideas, they can make sure their choices make the best use of those limited resources.

Which importance to evaluate ideas is discussed here?

• To decide what is important

• to identify Strengths and weaknesses of the idea

• to make the best use of limited resources

• to minimize risks while maximize return

Includes a description of the industry, current market, anticipated future market potential, competition, etc. is a part of which feasibility study?

• Market feasibility

• Technical feasibility

• Financial feasibility

• Organizational feasibility

To check the start-up capital, sources of capital, etc. is a part of which feasibility study?

• Market feasibility

• Technical feasibility

• Financial feasibility

• Organizational feasibility

Professional background information of entrepreneur and employees is part of which feasibility study?

• Market feasibility

• Technical feasibility

• Financial feasibility

• Organizational feasibility

Which way to generate idea is called 'gut feeling'?

• Environment scanning

• Intuition

• Brainstorming

• Focus groups

A group of people sit together and generate a number of business ideas by innovating alternative ways of meeting the needs and solving problems.

Which way to generate ideas is referred here?

• Environment scanning

• creativity and problem solving

• Focus groups

• Market research

All ideas should be approached as worthy, though all are not worth it. But, that can be discussed later. Which misconception is discussed here?

• Great ideas just appear out of nowhere

• There are no illogical ideas

• We can generate all the ideas we will ever need if we sit down at a meeting

• Great ideas aren't the problem