Podcast
Questions and Answers
Which of the following best defines an opportunity?
Which of the following best defines an opportunity?
- Choosing an existing product or service and trying to create a slightly improved version
- A problem or gap that an entrepreneur identifies and creates a business to address
- A favorable set of circumstances that leads to the need for a new product, service, or business (correct)
- Identifying a product or service that meets people's needs and is marketable
What is a common mistake when identifying opportunities?
What is a common mistake when identifying opportunities?
- Choosing an existing product or service and trying to create a slightly improved version (correct)
- Not considering the marketability of the product or service
- Not appealing to potential customers or users
- Not identifying a problem or gap to address
Which of the following is one of the key qualities of an opportunity?
Which of the following is one of the key qualities of an opportunity?
- Attractive to potential customers or users (correct)
- Externally stimulated by an entrepreneur
- Challenging to identify
- Internally stimulated by an entrepreneur
What is the timing consideration for launching an opportunity?
What is the timing consideration for launching an opportunity?
What is the difference between externally stimulated and internally stimulated entrepreneurial ventures?
What is the difference between externally stimulated and internally stimulated entrepreneurial ventures?
True or false: Identifying an opportunity involves offering something distinct from existing options.
True or false: Identifying an opportunity involves offering something distinct from existing options.
True or false: An opportunity should be appealing to potential customers or users.
True or false: An opportunity should be appealing to potential customers or users.
True or false: The timing for launching an opportunity should be right.
True or false: The timing for launching an opportunity should be right.
True or false: Choosing an existing product or service and creating a slightly improved version is a common mistake when identifying opportunities.
True or false: Choosing an existing product or service and creating a slightly improved version is a common mistake when identifying opportunities.
True or false: Entrepreneurial ventures can only be externally stimulated.
True or false: Entrepreneurial ventures can only be externally stimulated.
True or false: Entrepreneurial ventures can only be externally stimulated.
True or false: Entrepreneurial ventures can only be externally stimulated.
True or false: Identifying a product or service that meets people's needs is not important in opportunity recognition.
True or false: Identifying a product or service that meets people's needs is not important in opportunity recognition.
True or false: A common mistake in opportunity recognition is choosing an existing product and creating a slightly improved version of it.
True or false: A common mistake in opportunity recognition is choosing an existing product and creating a slightly improved version of it.
True or false: An opportunity should be appealing to potential customers or users.
True or false: An opportunity should be appealing to potential customers or users.
True or false: Timing is not a consideration when launching an opportunity.
True or false: Timing is not a consideration when launching an opportunity.
