10 Questions
What are the entrepreneur's basics in seeking opportunities, according to the text?
Entrepreneurial mind frame, heart flame, and gut game
How can opportunities be sourced by entrepreneurs?
By looking at changes in the environment, technological advancements, and government initiatives
What does the term 'substitute' refer to as mentioned in the text?
Anything that replaces or functions similarly to another product
What does 'rivalry' mean?
A state where people or groups are competing with each other
What is meant by 'new entrants' based on the text?
Startups entering an industry
How can entrepreneurs identify sources of opportunity in the external environment?
By assessing societal changes and industry trends as well
What does 'competition' entail in entrepreneurship?
The act of trying to get or win something in business
'Buyers' are characterized as individuals who:
Pay for goods and services with money
'Suppliers' in the context of entrepreneurship are those who:
Provide goods or services that are needed or desired
What is the significance of external environment for businesses?
It encompasses the physical, societal, and industry contexts where a business operates
Test your vocabulary skills by unscrambling letters to form correct words. Arrange the scrambled letters to reveal the hidden words in this challenging quiz.
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