Generating New Product Ideas Quiz

The number of new legal entities established in 2018 was lower than in 2017.

In 2018, the number of deregistered legal entities in Lithuania was higher than in 2017.

The balance of registered and deregistered legal entities improved in 2019 compared to 2018.

In 2019, closed joint-stock companies made up more than 80% of all operating companies in Lithuania.

The number of small communities increased by 34% in 2018 compared to the previous year.

The number of self-employed persons in the national economy has been increasing since 2016.

Identifying the target customer is not important in business.

You should try to force everyone to become your customer, even if they don't fit your customer profile.

A business developer can't benefit from having a mentor or coach.

Building a successful business is solely about pursuing your passion.

Every person is a potential customer for your business.

Mentors and coaches can help entrepreneurs avoid common mistakes and provide valuable guidance.

Creating a new product can provide opportunities to compete in an active market.

Improving existing products is not a strategy mentioned for staying ahead in the market.

Becoming the leader in a new product category is one way to succeed even if you're not the first.

Consumers play a role in the external influencing entities mentioned in the text.

Financial institutions are not involved in providing funds for the development of organizations.

Social elements such as demographics and values do not impact the market climate according to the text.

Entrepreneurs can benefit from valuable connections that may give them an advantage over competitors.

Competing in business requires taking drastic measures to destroy competitors.

Successful organizations always know what their customers want without asking them.

High traffic to a website automatically results in revenue generation.

Business success can be achieved by focusing on developing organizational partnerships.

Competing with a personal vendetta against competitors is a recommended strategy for business growth.

Self-employment is becoming more attractive due to decreasing wages of salaried workers and stable legal and tax regulations.

Improving the regulatory environment is not a factor that contributes to the attractiveness of self-employment.

In the World Bank's 'Doing Business 2020' study, Lithuania ranked 1st out of 190 evaluated countries in terms of improving business conditions.

Starting a business should not be based on solving real problems better, cheaper, or faster than current proposals.

Researching the market and evaluating competitors, customers, and opportunities is not essential before starting a business.

A business plan calculator is not recommended for developing a business idea.