Generating Business Ideas from Technological Discoveries and Government Policies

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What is the primary responsibility of a business consultant?

Identifying problems and creating solutions to help a company meet its goals (correct)

Representing a company and ensuring its strong presence

Designing and implementing a strategic sales plan

Managing accounts and following up leads

Which of the following job opportunities involves reviewing current business operations processes and making recommendations to improve efficiency?

Accountant

Business Consultant (correct)

Sales Manager

Human Resources Manager

What is the long-term professional journey that you determine based on your passions called?

Career (correct)

Job Opportunity

Business Reporter

Entrepreneurship

In which field can a career in entrepreneurship be made according to the text?

Any field depending on interests Signup and view all the answers

Who is responsible for designing and implementing a strategic sales plan that expands a company's customer base?

Sales Manager Signup and view all the answers

What do entrepreneurs specialize in, according to the text?

Marketing, human resources, management, and accounting Signup and view all the answers

What is Maria's role according to the text?

Fundraiser Signup and view all the answers

What is Mr. Cruz's role according to the text?

Teacher Signup and view all the answers

What does a Talent Recruiter primarily focus on?

Attracting, recruiting, and on-boarding employees Signup and view all the answers

What is the main responsibility of a Business Reporter?

Covering business news and stories in unique ways Signup and view all the answers

In what capacity does Mr. Gonzales work based on the text?

Talent Recruiter Signup and view all the answers

Which role involves training students to solve business problems and strategize effectively?

Teacher Signup and view all the answers

What can serve as a source of entrepreneurial ideas according to the text?

Technological discovery and advancement Signup and view all the answers

How does government policy contribute to entrepreneurial ideas?

By enforcing strict regulations on New Year's Eve celebrations Signup and view all the answers

Which of the following is NOT mentioned as a source of entrepreneurial ideas in the text?

Strict government policies Signup and view all the answers

How can past work experiences contribute to entrepreneurial ventures?

By providing relevant skills and expertise Signup and view all the answers

What role do people's interests play in generating entrepreneurial ideas?

People's interests serve as a rich source of entrepreneurial ideas Signup and view all the answers

Why might an individual view a government ordinance as a business opportunity?

Because it opens up avenues for new product development Signup and view all the answers

What factor is NOT mentioned as contributing to the intensity of rivalry among existing firms?

Decrease in fixed costs Signup and view all the answers

If a substitute product has a substantially higher price than the original product, it will:

Not pose a threat in the industry environment Signup and view all the answers

What does economies of scale refer to in the context of business competition?

The cost advantages that enterprises obtain due to size, output, or scale of operation Signup and view all the answers

Which factor is NOT mentioned as contributing to the threat posed by substitute products?

Higher price of substitute products Signup and view all the answers

What is a key characteristic of rivalry among existing firms in a market?

Intense competition based on marketing strategies and offers Signup and view all the answers

What role does 'difficulty in accessing distribution channels' play as a factor in business competition?

It leads to increased rivalry among existing firms Signup and view all the answers

What are output requirements in the context of services?

Specifications that a consumer expects to be fulfilled Signup and view all the answers

How is market size defined in the text?

The approximate number of sellers and buyers in a specific market Signup and view all the answers

Why is it important for companies to know the market size before launching a new product?

To determine the potential value of their business Signup and view all the answers

What is one of the essential steps in determining the market size according to the text?

Estimating the number of customers likely to purchase the product or service Signup and view all the answers

How can you describe an entrepreneur's task regarding market size calculation?

Estimating the approximate number of buyers and sellers in a specific market Signup and view all the answers

What type of research should an entrepreneur conduct to understand market size better?

Strategic marketing research from reliable sources Signup and view all the answers