9 Questions
What type of businesses are considered attractive in the text?
Businesses that are early in their life cycle
Which factor indicates an unattractive target market?
Dependence on historically low prices of raw materials
What is the challenge in identifying an attractive target market?
Selecting a market that's small enough to avoid attracting larger competitors
What is the purpose of an organizational feasibility analysis?
To determine if the business has sufficient management expertise
What type of products do attractive businesses sell, according to the text?
'Must-have' products and services
What does not describe an attractive business based on the text?
Being highly dependent on the historically low price of a key raw material
What is an essential feature of attractive businesses?
Selling products and services that customers 'want to have'
What does not describe unattractive businesses according to the text?
Growing rather than shrinking
What is conducted in an organizational feasibility analysis?
To determine if the business has sufficient management expertise
This quiz focuses on the importance of preparation and planning in entrepreneurship, highlighting the wisdom and experience of the five roots of opportunity in the marketplace. It covers the significance of learning from others' mistakes, thorough research, mentorship, and training to bridge gaps in preparation.
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