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Principles of BMF

Total questions: 15

Worksheet time: 30mins

Name
Class
Date
1.

What three things need to be analyzed during the Discovery stage of the entrepreneurial process to determine if an idea can become an opportunity?

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2.

A Business Plan might also be called a

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3.

During the 3rd stage of the entrepreneurial process, “Resourcing”, which of these is often helpful?

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4.

The 4th stage in the entrepreneurial process is:

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5.

This stage of the entrepreneurial process is where you evaluate if the company is a success or a failure:

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6.

A small business is generally defined as a company with fewer than:

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7.

This stage of the entrepreneurial process is where you determine if your idea fills a void or gap in the marketplace, whether it meets a want or need:

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8.

Entrepreneurship is a process, involving identifying opportunities, solving problems, creating a business plan, assuming risk, managing scarce _____________, and running/operating a business with a focus on ____________ and growth.

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9.

The primary differences between small business and entrepreneurship are in the areas of growth, __________, vision, and ___________.

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10.

The difference between small business and entrepreneurship has nearly nothing to do with size, and nearly everything to do with:

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11.

The introduction of something new – a new idea, product, method, device, or service, is called:

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12.

Which are current trends in entrepreneurship?

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13.

A solopreneur is:

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14.

Advancements in technology occur everyday, which allows some entrepreneurs to run their businesses:

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15.

A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring, is called:

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