INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Andy recently opened a new sporting goods store in South Charlotte. He is currently utilizing his business plan and fully running his store. What stage of the entrepreneurial process is Andy in?
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Growth
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Implementation
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -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-2: -The five stages of opportunity recognition process include getting an idea, opportunity identification, opportunity development, opportunity evaluation, and team assessment. An entrepreneur must follow these stages effectively for a successful business.
Detailed explanation-3: -Actualization – The stage in the entrepreneurial process in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
There is 1 question to complete.