BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following is the first step in the entrepreneurial process?
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Developing successful business ideas
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Deciding to become an entrepreneur
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Growing the entrepreneurial firm
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Moving from an idea to an entrepreneurial firm
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Explanation:
Detailed explanation-1: -Any type of business starts with an Idea. So the first step of entrepreneurial firm is seed stage means having a business idea.
Detailed explanation-2: -Ideation is the first stage of every entrepreneurial journey. The goal here is to identify and validate a profitable business idea. Here are three common ways entrepreneurs develop ideas: Considering what they’re passionate about.
Detailed explanation-3: -Step 2: Planning of the business and taking important decisions: The most crucial step of the entrepreneurial journey is to actually start the business after getting an idea. The second stage is to make crucial business-related decisions such as resources and location.
There is 1 question to complete.