INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Discovery
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In which case of the entrepreneurial process does the entrepreneur hold the grand opening?
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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?
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Can raise money by selling stockLimited liability
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None of the above
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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: -Step 1: Think of an idea First things first, you need a business idea. It can be a new product or service, or a way to improve a current one. To ensure you’re successful, it’s important to think about how you can make life easier for people with your idea.
Detailed explanation-3: -Analyzing the industry is not a stage of the entrepreneurial process.
There is 1 question to complete.