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 would the entrepreneur open the doors of their business for the first time?
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Concept Development
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Discovery
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Resourcing
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Actualization
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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: -Most authors agree that the initial stage in the entrepreneurial process is the identification and refining of a viable economic opportunity that exists in the market (Kuratko, 2001:171; Baron 2004b:221; Timmons, 1999:250; Bhave, 1994:224).
Detailed explanation-3: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019
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