Entrepreneurship Game

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

• Opportunity - seeking

• Opportunity - seizing

• Opportunity - screening

• Sources of opportunity

Who are the ones who pay cash in exchange for your goods and services?

• Buyers

• Competitors

• Sellers

• Suppliers

What is essential to opportunity-seeking that allows the entrepreneur to see things positively in difficult situations?

• Entrepreneurial mind frame

• Entrepreneurial gut game

• Entrepreneurial heart flame

• Entrepreneurial heart frame

What ability allows an entrepreneur to sense without using the five senses, also known as intuition?

• Entrepreneurial mind frame

• Entrepreneurial gut game

• Entrepreneurial heart flame

• Entrepreneurial heart frame

What essential aspect of opportunity-seeking refers to the driven passion of an individual?

• Entrepreneurial mind frame

• Entrepreneurial gut game

• Entrepreneurial heart flame

• Entrepreneurial heart frame

Which variable of the societal environment includes income level and employment rate?

• Economic forces

• Sociocultural forces

• Political forces

• Technological forces

What factors of substitute products pose a great threat in the industry environment?

• A, B, C, D

• A and C

• A and D

• B and C

What factors influence the buyer to pose less threat due to bargaining power?

• A only

• A and C

• A and D

• B and C

Which factor does not characterize the intensity of rivalry among existing firms?

• Diversity of rivals

• Number of competing firms

• Characteristics of the products or services

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

What outcome best reflects the value of identifying entrepreneurial opportunities in the early stages of business planning?

• Creation of entrepreneurial ideas that can be developed into viable ventures

• Estimation of business funding requirements

• Identification of customers who may reject the product

• Completion of the entrepreneurial process