INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which Stage? Develops business plan
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Discovery
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Resourcing
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Concept Development
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Actualization
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Harvesting
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Explanation:
Detailed explanation-1: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline. The concept was developed by German economist Theodore Levitt, who published his Product Life Cycle model in the Harvard Business Review in 1965. We still use this model today.
Detailed explanation-2: -Idea generation (Ideation) Product definition. Prototyping. Initial design. Validation and testing. Commercialization. 01-Nov-2022
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