Emma and Ivy are considering beginning a jewelry-making business. They have been collecting, reviewing, and interpreting the surveys they distributed last week about their business idea. Emma and Ivy are in what stage of the entrepreneurial process?

ENTREPRENEURS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Actualization
B	HarvestingConcept Development
C	Discovery
D	Resourcing

Explanation:

Detailed explanation-1: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.

Detailed explanation-2: -Discovery – The stage in the entrepreneurial process in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.

Detailed explanation-3: -The passion for their business stems from the entrepreneur’s belief that the business will positively influence people’s lives. The number one characteristic shared by successful entrepreneurs: passion for their business.

Detailed explanation-4: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

ENTREPRENEURS