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Which of the following businesses is the best example of an entrepreneurial venture?

A veterinarian invents and sells a device

How do new Products help a business succeed? Stay Ahead of the competitors, Respond to changing markets needs/wants, Replace and improve old products All of the Above.

All of the Above

Which company do people trust the most ?

Amazon

Which IS NOT a way to implement idea generation methods?

Attribute Listing

Which is an Idea- Generating techniques ?

Brainstorming

Your number one priority when starting a business is?

Building a strong team

Harvesting

Deciding when and how the entrepreneur will exist the business

The Entrepreneurial process is done in which order?

Discovery, Development, Resourcing, Actualization, Harvesting

Discovery

Entrepreneurs identify potential business opportunities and evaluate those ideas for competitive advantage, feasibility, and profitability.

Development

Entrepreneurs plan there business goals and determining the amount if capital needed to launch the enterprise

Resourcing

Entrepreneurs seek out investors, employees, capital resources, and any items that will be used to produce their businesses goods and services

Methods of Self Assessing your entrepreneurial potential include all EXCEPT ?

Go To College

Product innovation is significant improvements to existing ?

Goods and services

Product Ideas comes from many places, which of these is not somewhere product ideas are generated

Investors

Types of Business Ownership include all EXCEPT

Investors

Pitfalls of product opportunities include all EXCEPT ?

Lack of Funding

All are example of Risk Business of Ownership EXCEPT Financial Loss, Solely Responsible for all Work, Uncertain income, Lower Credit Score?

Lower Credit Score

One way to identify product opportunities is..

Market Gaps

All are examples of Benefits of Business Ownership EXCEPT ?

No Taxes

Which is the not the responsibility of a small business owner?

Obtain Funds

Actualization

Occurs when the business is launched and begins to operate

What affects entrepreneurial potential?

Personality of an entrepreneur

Which is a factor that DOES NOT impact Entrepreneurship?

Science

Which is not a characteristic of Entrepreneurship?

Sell products from large companies

It is difficult to think " " when something has been done the same way for a long time

Think outside the book

AN entrepreneur is someone who receives personal and financial reward for his/her efforts? (True or False)

True

Businesses can receive tax breaks from donating customers money to charity? (True or False)

True

New Products are the Lifeblood of Business

True

What are good traits/skills of successful entrepreneurs?

Willing to take risks

Process innovation is The Creation of new or significantly improved

production/delivery methods

Entrepreneurship is the development of an economic enterprise with available resources to create

value or wealth


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EENT & Mouth - Chapter 4 Questions

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