14 Questions
What is the primary focus of idea assessment?
Developing a solution for a market need
What is not an element of a feasibility analysis?
Entrepreneur's financial capability
Which model is used to assess the competitive environment?
Porter’s Five Forces Model
What is the purpose of using an idea sketch pad in idea assessment?
To ask key questions addressing customers, offering, and value proposition
What are the major elements of a financial feasibility analysis?
Costs, revenue forecasts, financing requirements
Which aspect is assessed in the process of assessing entrepreneur feasibility?
Entrepreneur's capability to turn ideas into a business
What does a feasibility study aim to address?
Whether to proceed with a business idea
Which of the following is NOT one of the six macro forces used to assess industry attractiveness?
Competitive
What determines the attractiveness of an industry according to the text?
Rivalry among companies in the industry
What makes an industry more attractive based on the text?
When there are many suppliers selling a commodity product
What influences buyers' influence according to the text?
Cost of switching to a competitor's product
What forces interact to determine the setting in which companies compete?
Threat of substitute products and bargaining power of suppliers
What makes an industry more attractive based on the text?
High buyers' switching costs
What shapes the industry's future according to the text?
Threats and opportunities faced by the industry
Test your knowledge about conducting idea assessment, feasibility analysis, macro environment forces in an industry, and Porter’s Five Forces Model for assessing the competitive environment.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
