INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When generating new ideas for new businesses, entrepreneurs often look for ways to perform which action?
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Rationalize spending
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Increase liability
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Solve problems
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Control outcomes
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Explanation:
Detailed explanation-1: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.
Detailed explanation-2: -Ask family and friends. Consider problems in your everyday life-then solve them! Build on your hobbies. Consider if there are tasks you could make easier. Build on existing products or services.
Detailed explanation-3: -They Identify Problems First. They Stay Calm. They Start General and Work toward Specific. They Adapt. They Delegate and Distribute. They Measure Outcomes and Reflect.
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