Entrepreneurial Opportunities in Changing Markets
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Questions and Answers

What motivated an entrepreneur to create a co-living space for remote workers?

  • The rise of remote work and digital nomadism (correct)
  • Inefficiencies in the booking process for vacation rentals
  • A growing trend of solo female travelers
  • A lack of user-friendly online platforms for property owners

    • What is the primary goal of opportunity screening in entrepreneurship?

  • To develop a marketing strategy for a new product
  • To launch a travel agency for solo travelers
  • To create a user-friendly online platform for customers
  • To evaluate the feasibility and potential of innovative product ideas (correct)

    • Which of the following is an example of opportunity screening?

  • Evaluating the scalability and sustainability of a business idea (correct)
  • Launching a new product without market research
  • Conducting market research to identify industry trends
  • Developing a business plan for a new venture

    • What is the purpose of assessing market demand and competition in opportunity screening?

    <p>To evaluate the feasibility of a business idea</p> Signup and view all the answers

    What is the outcome of successful opportunity screening?

    <p>A validated and refined business idea</p> Signup and view all the answers

    Why is it essential to seek feedback from potential customers and industry experts during opportunity screening?

    <p>To validate business ideas and avoid unnecessary investments</p> Signup and view all the answers

    What does product innovation primarily focus on?

    <p>Introducing new or enhanced products or service features</p> Signup and view all the answers

    Which innovation type is directly related to the UN SDG Agenda of 2030?

    <p>Eco innovation</p> Signup and view all the answers

    What is the main goal of opportunity seeking in entrepreneurial mindset?

    <p>Actively searching for and identifying market-based activities that offer potential advantages</p> Signup and view all the answers

    An entrepreneur identifies a gap in the market for high-quality, affordable skincare products. What is the entrepreneur doing in this scenario?

    <p>Recognizing a discrepancy in the market</p> Signup and view all the answers

    Which of the following is an example of opportunity seeking?

    <p>Identifying a sudden surge in demand for eco-friendly products</p> Signup and view all the answers

    What is the primary focus of marketing innovation?

    <p>Having creative ideas and executing the same in the area of price, packaging, design or promotion</p> Signup and view all the answers

    What involves taking decisive action to capitalize on a business opportunity?

    <p>Opportunity seizing</p> Signup and view all the answers

    What is an example of seizing an opportunity?

    <p>Launching a crowdfunding campaign</p> Signup and view all the answers

    What is the purpose of iterating and adapting business strategies?

    <p>To maximize the potential for success</p> Signup and view all the answers

    What organization has summarized the key qualities necessary to launch an entrepreneurial start-up?

    <p>United Nations Conference on Trade and Development (UNCTAD)</p> Signup and view all the answers

    What is the outcome of forming strategic partnerships or alliances?

    <p>Leveraging complementary strengths and resources</p> Signup and view all the answers

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