INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The business concept should
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clearly communicate the distinctive features of the business
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be a broad statement on the venture’s mission and vision statement
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remain fixed given the dynamics of the business environment
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be a bridge between an idea and a business opportunity
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Explanation:
Detailed explanation-1: -Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.
Detailed explanation-2: -A company’s business concept is about the direction and form of its operations. If it is apparent to you that the company’s success lies in its intangible assets, think carefully about protecting them at an early stage. A business concept is a fundamental prerequisite for the existence of a company.
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