Entrepreneurship business idea generation an initial evaluation
Entrepreneurs can examine business risk by considering three threats to business success those three threats are
Threats to operational financing threats to profit margin threats to sail generation schemes
Which of the following are required in the initial analysis of a business opportunity
Time Financial investments Focus
Which of the following questions should be addressed by an entrepreneur when reflecting on family experience
What is your family history with new business ventures
Once a skill analysis has been completed the next step is to
Exam in the market Place for opportunities
Which of the following sources of skills for new business is often most overlooked
Family experiences
What is the method used to identify an opportunity that exist between the demand for a product and the supply provided by firms in the market
Gap analysis
Which of the following would be classified as threats to operational financing
Hi development cost entrepreneurial team with a low acid base hi inventory needs rapid expansion cost
Which of the following is a principal cause of new business failure
Insufficient financial resources at founding
Which of the following are characteristic of the chart used in the gap analysis
It is a reasonably quick analysis it is completed by the entrepreneur it requires minimal research
The steps in the process of generating ideas do not occur in a
Linear interactive
Which of the following are part of the process of generating business ideas
Magine the initial financial funding available identifying the skills of the potential founder identifying opportunities in the market
What are the typical categories used to analyze a business idea
Non-financial resources Time finance risk competitors
Which of the following would be considered non-financial resources to the new business Will need
Physical location of the business special contracts with suppliers special contracts with customers
Research suggests that successfully new businesses ideas are not determined by your
Gender parents race religion
Why are hobbies a good skill source
Hobbies require the development of specific skills individuals are passionate about their hobbies
If done well the process of generating ideas will result in
Ideas that appear to be an opportunity ideas that match the founder skills A list of 3 to 5 business ideas
Once the scale analysis has been completed the next step is to
Exam in the marketplace for opportunities
A business that is produced early complex and involves managing a way to variety of details may be appropriate for individuals who
Are detail oriented
Along with a business idea what else should be included in the first column of the gap analysis chart
Brief explanation of the business idea
What is included in the first column of the chart used in the gap analysis
Brief explanation of the idea businesses idea
What is included in the first column of the chart used in the gap analysis
Brief explanation of the idea Business idea
Match the items on the right with the appropriate column number on the gap analysis chart
Business idea brief explanation category personal resources required resources deflect or gap
Successful business ideas are determined by the following
Creativity of the entrepreneur
What is included in the second column of the chart used in the gap analysis
Categories of analysis
Which category on the gap analysis chart would examine companies doing the same thing as The new potential business
Competitors
Which of the following are true regarding the process of generating ideas
The process typically requires interaction The process typically requires iteration The process typically requires consideration