Midterm Exam in Entrepreneurial Management

What is the primary focus of opportunity recognition and assessment?

• Developing marketing strategies

• Identifying and evaluating business opportunities

• Managing financial resources

• Creating a business plan

Which of the following is NOT a main objective of opportunity recognition and assessment?

• Analyzing market trends and competitive forces

• Assessing risk and uncertainty in entrepreneurship

• Developing financial projections

• Identifying and evaluating business opportunities

Which of the following is a key concept in analyzing market trends and competitive forces?

• Risk mitigation

• Market segmentation

• SWOT analysis

• Feasibility studies

What are some sources of opportunities for entrepreneurs?

• Changes in technology

• Changes in demographics

• Changes in consumer behavior

• All of the above

Which of the following is an evaluation technique used in opportunity recognition?

• Market research

• Financial planning

• Competitive analysis

• Marketing strategy

What is the goal of analyzing market trends and competitive forces?

• To develop a unique value proposition

• To assess financial risks

• To create a marketing plan

• To develop operational strategies

What types of risks are associated with entrepreneurship?

• Financial risks

• Market risks

• Operational risks

• All of the above

What is the purpose of risk mitigation techniques?

• To increase risks

• To reduce risks

• To ignore risks

• To transfer risks

What does handling uncertainty involve in entrepreneurship?

• Avoiding decision-making

• Making informed decisions even when things are uncertain

• Delaying decision-making

• Ignoring uncertainty

What do effective strategies uncover?

• Market opportunities

• Financial resources

• Operational plans

• Marketing strategies