Recognizing Business Opportunities Quiz
11 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is one reason to conduct a brainstorming session?

  • To secure ideas from being lost or stolen
  • To store ideas in a physical or digital repository
  • To generate ideas representing product, service, or business opportunities (correct)
  • To select 5 to 10 people based on common characteristics

What is the purpose of a focus group?

  • To store ideas in a physical or digital repository
  • To select 5 to 10 people based on common characteristics
  • To generate ideas representing product or business opportunities (correct)
  • To protect ideas from being lost or stolen

What is an idea bank?

  • A practice that avoids disclosing ideas inadvertently
  • A gathering of 5 to 10 people selected based on common characteristics
  • A means of securing ideas from theft
  • A physical or digital repository for storing ideas (correct)

How can ideas be protected from being lost or stolen?

<p>By securing them and avoiding disclosure that might lead to losing rights (D)</p> Signup and view all the answers

Which step is NOT involved in protecting ideas from being lost or stolen?

<p>Generating ideas through brainstorming sessions (C)</p> Signup and view all the answers

What is the difference between an idea and an opportunity?

<p>An idea is a thought or impression, while an opportunity has the qualities of being attractive, durable, and timely. (A)</p> Signup and view all the answers

When does the window of opportunity close?

<p>When the market becomes saturated with competitors (A)</p> Signup and view all the answers

What are the three general approaches entrepreneurs use to identify an opportunity?

<p>Observing trends, solving a problem, finding gaps (A)</p> Signup and view all the answers

Which environmental trend is instrumental in creating opportunities according to the text?

<p>Economic forces (B)</p> Signup and view all the answers

What are the personal characteristics that researchers have identified as making some people better at recognizing business opportunities than others?

<p>Cognitive factors, social networks, creativity (A)</p> Signup and view all the answers

What technique is used to quickly generate a large number of ideas and solutions to problems?

<p>Brainstorming (D)</p> Signup and view all the answers

More Like This

d271 2.2, easy
7 questions

d271 2.2, easy

StrongerMoldavite8334 avatar
StrongerMoldavite8334
Identifying Business Opportunities
13 questions
Use Quizgecko on...
Browser
Browser