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Entrepreneurial Process of Creating New Ventur

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Questions and Answers

What refers to the laws, rules, and regulations that govern business practices?

Wildlife
Natural resources
Political forces (correct)
Climate

Which of the following is NOT included in the societal environment for business opportunities?

Competitors
Employees
Creditors
Natural resources (correct)

What is a good source of entrepreneurial ideas as per the text?

Income level
Employment rate
Government's thrust (correct)
Technological discovery

In which environment do new inventions and technology innovations belong?

Technological environment (A) Signup and view all the answers

What type of discovery can lead to business opportunities according to the text?

Technological discovery (D) Signup and view all the answers

Which external factor can significantly impact entrepreneurial ideas?

Economic forces (D) Signup and view all the answers

What is the first step in the entrepreneurial process?

Creating an entrepreneurial idea (C) Signup and view all the answers

Which of the following is NOT an essential for an entrepreneur's opportunity-seeking?

Financial resources (B) Signup and view all the answers

What does the term 'entrepreneurial mindframe' refer to?

The ability to see things positively and optimistically (B) Signup and view all the answers

What does the term 'entrepreneurial heartflame' refer to?

The desire to achieve goals (C) Signup and view all the answers

What does the term 'entrepreneurial gutgame' refer to?

The ability to be intuitive and confident in oneself (C) Signup and view all the answers

Based on the diagram, what is the final step in the entrepreneurial process of creating a new venture?

Opening an entrepreneurial venture (A) Signup and view all the answers

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