Entrepreneurship Introduction Quiz
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Questions and Answers

What are the four main areas of activity in a business model according to the text?

  • Business opportunity, marketing strategy, operational plan, financial forecast
  • Customer service, employee training, budgeting, competitor analysis
  • Product development, market analysis, sales strategy, revenue projection
  • Infrastructure management, product innovation, customer relationship, financial aspects (correct)

    • Which section is typically found in a business plan but not in an opportunity business model?

  • Executive summary
  • Management team
  • Profit drivers (correct)
  • Product innovation

    • In the context of the Opportunity Business Model, what does 'Proposition' refer to?

  • Employee training programs
  • Market analysis for product placement
  • Cost structure of the business idea
  • Core value proposition perceived by the customer (correct)

    • Who are included in the 'People' dimension of the Opportunity Business Model?

    <p>Leader, management team, network of advisors, customers, suppliers</p> Signup and view all the answers

    What does the 'Process' dimension in the Opportunity Business Model focus on?

    <p>Enterprise structure</p> Signup and view all the answers

    Which are considered as drivers underpinning an entrepreneurial opportunity?

    <p>Personal, Societal, Commercial, Legal, Technological</p> Signup and view all the answers

    In the context of a business idea, what does 'Profit' in the Opportunity Business Model refer to?

    <p>Real returns and the reasons for doing it</p> Signup and view all the answers

    What does 'Place' signify in the Opportunity Business Model?

    <p>'Where is the market?' - The market location</p> Signup and view all the answers

    'Process' in the Opportunity Business Model refers to:

    <p>'How is the enterprise structured?' - Organizational setup</p> Signup and view all the answers

    'Personal' and 'Societal' are examples of drivers that underpin an entrepreneurial opportunity because they:

    <p>Are related to individual motivations and societal needs respectively.</p> Signup and view all the answers

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