BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Existing products and services
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Federal government
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Distribution Channels
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Consumers
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Detailed explanation-1: -Answer: The Distribution channels give suggestions for new product and als help to market new products. The distribution channels are chosen for providing ideas for new products because they are more familiar and have more understanding on the market needs.
Detailed explanation-2: -International Management. Joseph Schumpeter argued that entrepreneurs develop new products and technologies that over time make current products and technologies obsolete, and this process, which he called creative destruction, is good because it stimulates economic activity.
Detailed explanation-3: -Expert-Verified Answer. Market research is an important source of Idea generation due to familiarity with the needs of the market.
Detailed explanation-4: -By definition, exporting is the practice of sending or transporting goods or services to a foreign country for trade or sale.
Detailed explanation-5: -(a) Innovating Entrepreneurs: An innovating entrepreneur is one who introduces new goods, inaugurates new method of production, discovers new market and reorganizes the enterprise.