The process of perceiving the possibility of a profitable new business, product
ID: 331232 • Letter: T
Question
The process of perceiving the possibility of a profitable new business, product or service idea is referred to as: 9. A) inspired detection B) creative recognition C) idea confirmation D) opportunity recognition E) inspired discovery 10. A network entrepreneur is an individual who identifies his or her business idea: A) on their own B) through the assistance of a paid consultant C) through social contacts D) with one or more partners E) through a business incubator program is the process of generating a novel or useful idea. A) Innovation C) Creativity D) Visualization E) Envisioning 12. Which of the following is not one of the rules for a formal brainstorming session? A) no criticism is allowed B) the session moves quickly C) freewheeling is encouraged D) leapfrogging is encouraged E) the session is used for decision making 13. Primary research is: A) original research and is collected by the entrepreneur B) research that is already collected and is available online C) research that is stored in an official government depository D) research that is collected by an impartial third party E) research that is collected by an industry trade associationExplanation / Answer
9) The process of perceiving the possibility of a profitable new business, product or service idea is referred to as Opportunity Recognition. Opportunity recognition is ways in which an entrepreneur identifies various opportunities for identifying new businesses.
10) A network entrepreneur is an individual who identifies his/her business needs through social networks i.e network entrepreneur networks through their networks for increasing reach, growth and identifying needs of their business
11) Creativity is the process of generating a novel or useful idea. Opportunity recognition maybe a part of creative process
12) The session is used for decision-making is not the rule of a formal brainstorming session. Formal Brainstorming session is meant to generate ideas without any deep discussion on a particular idea and without any criticism. The sessions are meant to generate quickly quantity ideas rather quality. Ideas are meant to be developed using several ideas.
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