INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What is the third step in the entrepreneurial process?
|
|
Identify and analyze an opportunity to start or develop a business enterprise.
|
|
|
Develop a business plan, which should include short-, intermediate-, and long-term goals for the business.
|
|
|
Evaluate needed resources and to determine how to obtain necessary resources that could include capital investments of money, equipment, machinery, buildings, land, or other necessary items.
|
|
|
Actual management of the enterprise that has been created.
|
Explanation:
Detailed explanation-1: -The third step consists of the execution stage. In this step, Individuals take different steps to execute the idea they have thought of to convert it into an entrepreneurial business.
Detailed explanation-2: -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.
There is 1 question to complete.