INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Actualization
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Discovery
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Harvesting
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Concept Development
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Detailed explanation-1: -Discovery-stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
Detailed explanation-2: -It is the refining process under the last step which is called the seizing the opportunity. In this stage, the entrepreneur determines what are the feasible products and/or services trhat will perfectly suit the opportunity.
Detailed explanation-3: -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-4: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.