INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which stage of the entrepreneurial process are you when you are seeking people and companies to invest in your business venture?
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Actualization
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Concept Development
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Resourcing
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Discovery
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Explanation:
Detailed explanation-1: -The “Five Stages of Entrepreneurship” is a simple framework that helps new founders to understand the entrepreneurship journey. The stages include ideation, planning, execution, scaling, and hypergrowth.
Detailed explanation-2: -Concept Development-stage in which the entrepreneur plans the venture, identifies needed resources using a business plan, identifies strategies to protect intellectual property, etc.
Detailed explanation-3: -During the startup stage, or the birth of the idea, the venture requires resources to support the startup as the entrepreneur develops the idea, creates the prototype, and builds the infrastructure to support production.
There is 1 question to complete.