Entrepreneurial Opportunity Identification Quiz

An attractive and accessible economic idea that can be implemented to create a business

All of the above

It can be known through customer feedback about existing products and services they have been using

<p>They create new business opportunities by influencing social, legal, technological, and political aspects</p> Signup and view all the answers

<p>It involves creating new things as well as new and creative processes that add value to existing products</p> Signup and view all the answers

<p>Availability of venture capital funding</p> Signup and view all the answers

<p>Business idea refers to an attractive and accessible economic idea, while business opportunity is simply an idea about what to do</p> Signup and view all the answers

<p>Skills, Idea, Knowledge, Processing, Competencies</p> Signup and view all the answers

<p>Consumer behavior</p> Signup and view all the answers

<p>All of the above</p> Signup and view all the answers

<p>Political, Economic, Social, Technological, Ecological, Legal</p> Signup and view all the answers

<p>Suppliers and Customers</p> Signup and view all the answers

<p>Availability of inputs at cheaper rates</p> Signup and view all the answers

<p>To satisfy customer needs and earn profit</p> Signup and view all the answers

<p>By observing emerging trends and changes in the external environment</p> Signup and view all the answers

<p>The focus on customer satisfaction and profit potential</p> Signup and view all the answers

<p>It guides the creation of products and services to satisfy customers</p> Signup and view all the answers

<p>They inspire innovation and creativity in product development</p> Signup and view all the answers

<p>Facilitate quick action for entrepreneurs</p> Signup and view all the answers

<p>Potential of future growth</p> Signup and view all the answers

<p>Economic, social, political, and legal forces that influence a business</p> Signup and view all the answers

<p>Political factors</p> Signup and view all the answers

<p>Business cycle</p> Signup and view all the answers

<p>Political, economic, social, technological, ecological, legal</p> Signup and view all the answers

<p>By identifying unmet needs that can be addressed with innovative solutions</p> Signup and view all the answers

<p>Skills -&gt; Idea -&gt; Knowledge Processing -&gt; Competencies</p> Signup and view all the answers

<p>'Business opportunity' refers to a fully developed plan while 'business idea' refers to initial thoughts</p> Signup and view all the answers