Podcast
Questions and Answers
What is the concept of a business opportunity?
What is the concept of a business opportunity?
- An attractive and accessible economic idea that can be implemented to create a business (correct)
- A simple idea about what to do
- A vague notion about potential customer needs
- A random thought about innovative processes
Which of the following is an example of a source for generating business opportunity?
Which of the following is an example of a source for generating business opportunity?
- Watching emerging trends/changes in the market
- Learning about the success stories of known entrepreneurs
- Making visits to trade fairs and exhibitions
- All of the above (correct)
How can knowledge of potential customer needs contribute to entrepreneurial opportunity?
How can knowledge of potential customer needs contribute to entrepreneurial opportunity?
- It only leads to the solution of problems, not opportunities
- It can be known through customer feedback about existing products and services they have been using (correct)
- It has no impact on entrepreneurial opportunity
- It is not a reliable source for generating business opportunity
What role do emerging trends/changes play in creating new business opportunities?
What role do emerging trends/changes play in creating new business opportunities?
How does innovation contribute to the generation of business opportunities?
How does innovation contribute to the generation of business opportunities?
Which of the following conditions is NOT required for an idea to become a business opportunity?
Which of the following conditions is NOT required for an idea to become a business opportunity?
What does the concept of 'business opportunity vs business idea' imply?
What does the concept of 'business opportunity vs business idea' imply?
What is the process of transformation of idea into opportunity shown in the diagram?
What is the process of transformation of idea into opportunity shown in the diagram?
Which factor is NOT summarized by the PESTEL model for macro environments?
Which factor is NOT summarized by the PESTEL model for macro environments?
What does environmental scanning help an entrepreneur to do?
What does environmental scanning help an entrepreneur to do?
What does the business environment include?
What does the business environment include?
What type of factors are included in the micro environment of a business?
What type of factors are included in the micro environment of a business?
Which factor can lead to the generation of a business opportunity?
Which factor can lead to the generation of a business opportunity?
What is the primary purpose of business opportunity?
What is the primary purpose of business opportunity?
How can environmental scanning contribute to identifying new business opportunities?
How can environmental scanning contribute to identifying new business opportunities?
What distinguishes a business opportunity from a business idea?
What distinguishes a business opportunity from a business idea?
In what way does the knowledge of potential customer needs contribute to entrepreneurial opportunity?
In what way does the knowledge of potential customer needs contribute to entrepreneurial opportunity?
What role do success stories of known entrepreneurs play in generating business opportunities?
What role do success stories of known entrepreneurs play in generating business opportunities?
What is the primary role of environmental scanning for an organization?
What is the primary role of environmental scanning for an organization?
Which of the following is not considered a condition for an idea to become a business opportunity?
Which of the following is not considered a condition for an idea to become a business opportunity?
What does the business environment include?
What does the business environment include?
Which of the following is NOT included in the micro environment of a business?
Which of the following is NOT included in the micro environment of a business?
Which factor is NOT summarized by the PESTEL model for macro environments?
Which factor is NOT summarized by the PESTEL model for macro environments?
What type of factors are included in the macro environment according to the PESTEL model?
What type of factors are included in the macro environment according to the PESTEL model?
How can knowledge of potential customer needs contribute to entrepreneurial opportunity?
How can knowledge of potential customer needs contribute to entrepreneurial opportunity?
What is the process of transformation of idea into opportunity shown in the diagram?
What is the process of transformation of idea into opportunity shown in the diagram?
What does the concept of 'business opportunity vs business idea' imply?
What does the concept of 'business opportunity vs business idea' imply?
