Opportunity Recognition Theory Quiz

What is the main focus of opportunity recognition theory in entrepreneurship?

• Launching a business

• Spotting opportunities

• Managing a team

• Raising capital

According to opportunity recognition theory, how are opportunities perceived?

• They appear randomly

• They are actively recognized

• They are inherited

• They are given by mentors

Which of the following is NOT a key component of opportunity recognition?

• Prior knowledge

• Social networks

• Cognitive processes

• Financial investment

How does prior knowledge help entrepreneurs in opportunity recognition?

• By ensuring market dominance

• By offering legal advice

• By providing financial resources

• By making sense of new information

What role do social networks play in opportunity recognition?

• They limit the scope of ideas

• They expose entrepreneurs to diverse perspectives

• They ensure product quality

• They provide financial backing

Which company was founded by recognizing a short-term housing shortage during a conference?

• Lyft

• Airbnb

• WeWork

• Uber

What was Eric Yuan's key insight that led to the creation of Zoom?

• The need for faster internet

• The rise of e-commerce

• The demand for simpler video conferencing

• The popularity of social media

Why is opportunity recognition theory important for educators and incubators?

• It focuses on financial management

• It limits entrepreneurial risks

• It guarantees business success

• It helps in teaching opportunity evaluation

How does opportunity recognition theory benefit early-stage investors?

• By ensuring high returns

• By assessing market needs

• By reducing investment risks

• By providing tax benefits

What is a fundamental skill that separates dreamers from doers according to the opportunity recognition theory?

• Spotting opportunities

• Financial acumen

• Marketing expertise

• Technical skills