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Entrepreneurship Quiz 3
Unit1
Mar 30, 2024
10
Questions
Entrepreneurship
Question 1
Generating new ideas by assembling a group of individuals who are unaware of the problem is the focus of
Question 2
New organisational structures, new distribution channels, and new production processes are best described as sources of new
Question 3
Due to an amendment in a country's legislation to curtail pollution, a company that produces bottled water developed a thinner, flexible plastic bottle which is easily disposed of. This source of opportunity is considered to be the result of
Question 4
The following are some steps in the entrepreneurial process. 1. Opportunity Identification. 2. Venture Implementation. 3. Idea Generation. Which is the correct sequencing of these steps?
Question 5
Which of the following factors is the least important in the evaluation of a venture opportunity?
Question 6
The following should determine the choice of a distribution channel
Question 7
John Williams has been a successful entrepreneur for years. He has decided to retire from business and does not want the venture to continue. The recommended exit strategy for him would be
Question 8
Which of the following questions should not be asked when developing a business concept?
Question 9
A benevolent investor who provides financial backing for small start-ups or entrepreneurs may be classified as
Question 10
Innovation is important in entrepreneurship as it 1. Is the vehicle through which the entrepreneur creates new avenues for wealth generation 2. Provides a means for the entrepreneur to transform ideas into sellable or saleable solutions 3. Enables the entrepreneur to target new customers and markets