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10 Questions

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Venturing into a New Business

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Questions and Answers

Which of the following is NOT a key component of the process of new venture creation?

Opportunity evaluation

Financial planning (correct)

Idea generation

Company formation/launch

What is the primary goal of the New Ventures program?

To promote the development of new products and services

To create new markets and wealth through entrepreneurial ventures

To generate positive environmental or social change within communities (correct)

To provide financial support for small and medium enterprises

Which of the following is NOT listed as an example of an entrepreneurial skill?

Marketing skills (correct)

Business management skills

Communication and listening skills

Financial skills

What is the first phase in the process of new venture creation?

Idea generation Signup and view all the answers

Which of the following statements about new ventures is NOT supported by the text?

New ventures often require significant financial investment Signup and view all the answers

What is the purpose of the business planning process?

To provide a clear direction and defined steps for future decision implementation Signup and view all the answers

Which of the following is NOT mentioned as a component of the process of new venture creation?

Market research Signup and view all the answers

What is the primary purpose of new venture development activities?

To create a business that can be competitive in the market Signup and view all the answers

Which of the following statements about entrepreneurial ventures is NOT supported by the text?

Entrepreneurial ventures often require significant government support Signup and view all the answers

Which of the following is an example of an entrepreneurial skill?

Critical thinking skills Signup and view all the answers