Success Factors in Business: Education, Experience, and People
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Questions and Answers

Which element allows an entrepreneur to choose products under an overall plan?

  • Basic business idea (correct)
  • Product range
  • Hierarchy
  • Product line
  • What is the term used to describe long-term thinking in business?

  • Basic business idea (correct)
  • Hierarchy
  • Product range
  • Product line
  • In the examples given, what can a unit with a basic business idea of packaging manufacture?

  • Different sizes of metal packages
  • Different sizes of aluminum packages
  • Different sizes of plastic packages (correct)
  • Different sizes of paper packages
  • What does the product line consist of?

    <p>Different families of products</p> Signup and view all the answers

    Which source is listed as one of the ways to generate new ideas for products or services?

    <p>Research and Development</p> Signup and view all the answers

    What should potential entrepreneurs pay close attention to when developing a new product or service idea?

    <p>The potential consumer</p> Signup and view all the answers

    'Product range' includes different sizes of the product within which level?

    <p>'Product line'</p> Signup and view all the answers

    'Consumers' are listed as one of the sources of new ideas due to their influence on:

    <p>'Existing Companies'</p> Signup and view all the answers

    'Existing Companies' are mentioned as a source of new ideas because they have insights into:

    <p>'Consumers'</p> Signup and view all the answers

    'Distribution Channels' are highlighted as a source of new ideas for products due to their knowledge about:

    <p>'Consumers'</p> Signup and view all the answers

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