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Business Idea Assessment

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Questions and Answers

What is the first step in the process of assessing a business idea?

Go/No-Go Decision

Business Plan Preparation and Implementation

Idea/Concept and Model/Scenario Deliberation and Assessment

Initial Idea Exploration, Identification and Assessment (correct)

Where can new business ideas come from, according to the text?

Market research reports

Social media trends

Board room of an existing business (correct)

Competitors' strategies

What is the purpose of the five steps mentioned in the text?

To guarantee success in business ventures

To eliminate the need for efficient time management

To increase the chance of success in business development (correct)

To discourage the pursuit of new business ideas

What is Step 3 of the business development process?

Go/No-Go Decision Signup and view all the answers

What does the text highlight about following the five steps for business development?

They will not guarantee success but can increase the chance of success Signup and view all the answers

What is the purpose of Step 3 in the business development process?

To make a Go/No-Go decision Signup and view all the answers

Where can new business ideas come from, according to the text?

Past work experience Signup and view all the answers

What is the primary aim of following the five steps for business development?

To increase the chance of success Signup and view all the answers

What is the focus of Step 1 in the business development process?

Exploration, identification, and assessment of initial ideas Signup and view all the answers

What is the significance of Step 5 in the business development process?

To focus on business operations Signup and view all the answers

Which step involves making a Go/No-Go decision?

Step 3 Signup and view all the answers

Where can new business ideas come from according to the text?

Past work experience Signup and view all the answers

What is the purpose of Step 4 in the business development process?

To prepare and implement a business plan Signup and view all the answers

What does following the five steps of business development process increase?

Chance of success Signup and view all the answers

What is the focus of Step 2 in the business development process?

Deliberating on the idea/concept and model/scenario Signup and view all the answers

Business Idea Assessment

Choose a study mode

Podcast

Questions and Answers

What is the first step in the process of assessing a business idea?

Where can new business ideas come from, according to the text?

What is the purpose of the five steps mentioned in the text?

What is Step 3 of the business development process?

What does the text highlight about following the five steps for business development?

What is the purpose of Step 3 in the business development process?

Where can new business ideas come from, according to the text?

What is the primary aim of following the five steps for business development?

What is the focus of Step 1 in the business development process?

What is the significance of Step 5 in the business development process?

Which step involves making a Go/No-Go decision?

Where can new business ideas come from according to the text?

What is the purpose of Step 4 in the business development process?

What does following the five steps of business development process increase?

What is the focus of Step 2 in the business development process?

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