Generating Business Ideas from Technological Discoveries and Government Policies
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Questions and Answers

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?

    <p>Any field depending on interests</p> Signup and view all the answers

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

    <p>Sales Manager</p> Signup and view all the answers

    What do entrepreneurs specialize in, according to the text?

    <p>Marketing, human resources, management, and accounting</p> Signup and view all the answers

    What is Maria's role according to the text?

    <p>Fundraiser</p> Signup and view all the answers

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

    <p>Teacher</p> Signup and view all the answers

    What does a Talent Recruiter primarily focus on?

    <p>Attracting, recruiting, and on-boarding employees</p> Signup and view all the answers

    What is the main responsibility of a Business Reporter?

    <p>Covering business news and stories in unique ways</p> Signup and view all the answers

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

    <p>Talent Recruiter</p> Signup and view all the answers

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

    <p>Teacher</p> Signup and view all the answers

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

    <p>Technological discovery and advancement</p> Signup and view all the answers

    How does government policy contribute to entrepreneurial ideas?

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

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

    <p>Strict government policies</p> Signup and view all the answers

    How can past work experiences contribute to entrepreneurial ventures?

    <p>By providing relevant skills and expertise</p> Signup and view all the answers

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

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

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

    <p>Because it opens up avenues for new product development</p> Signup and view all the answers

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

    <p>Decrease in fixed costs</p> Signup and view all the answers

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

    <p>Not pose a threat in the industry environment</p> Signup and view all the answers

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

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

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

    <p>Higher price of substitute products</p> Signup and view all the answers

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

    <p>Intense competition based on marketing strategies and offers</p> Signup and view all the answers

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

    <p>It leads to increased rivalry among existing firms</p> Signup and view all the answers

    What are output requirements in the context of services?

    <p>Specifications that a consumer expects to be fulfilled</p> Signup and view all the answers

    How is market size defined in the text?

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

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

    <p>To determine the potential value of their business</p> Signup and view all the answers

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

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

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

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

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

    <p>Strategic marketing research from reliable sources</p> Signup and view all the answers

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