obj 2
For a prospective entrepreneur, what is necessary to determine the existence of goods and services?
Entrepreneurial discovery
Entrepreneurial discovery is an important process in a free-enterprise economic system because an entrepreneur or small-business owner will most likely accomplish which goal?
Satisfy an unmet demand
Identifying new product opportunities usually requires a person to possess which characteristic?
Awareness
The entrepreneurial discovery process requires knowledge and the recognition of which situation?
Market need
After a Korean auto manufacturer built a plant in Ames, Iowa, Kwan noticed a substantial growth of Korean residents in the area, many of whom were relocated to Ames to work for the plant. Kwan decided to import Korean goods and sell them in a small Korean specialty store near town. This is an example of a product opportunity resulting from which situation?
Shifts in popularity ethnicity
When using mind mapping to generate product ideas, it is best begin by writing down the main problem or which other component?
Market opportunity
Which is an example of a demographic trend that has encouraged entrepreneurial discovery?
Increased cultural diversity
Which is an example of a demographic trend?
The aging of the population
Which example illustrates how environmental factors are interrelated?
The economy affects what competitors are doing
Which statement is true about a business environment?
It is always changing.
When determining venture-creation opportunities, entrepreneurs must first perform which action?
Conduct research
Jessica’s hobby is making jewelry. There is potential to sell her bracelets and earrings on eBay. This is an example of identifying a product opportunity by considering which factors?
Personal experiences
The brainstorming process is used to accomplish which primary goal?
Come up with as many ideas as possible.
Which is usually a characteristic of a creative person?
Likes to seek out new challenges
Which personality trait is often associated with creative people?
Acting independently
People who are naturally creative often possess which attribute?
Mentally flexible
People who are naturally creative often possess which attribute?
Mentally flexible
Which process helps aspiring entrepreneurs generate venture ideas?
Creative thinking
The primary responsibility of the facilitator of a product idea brainstorming session are to compile all of the ideas and perform which other action?
Keep the group on task