APSC 221 Chapter 13 Question and answers already passed 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 Chapter 13 Question and answers already passed 2024/2025 APSC 221 Chapter 13: Recognizing Opportunities and Generating Ideas
Opportunity is - correct answer a favourable set of circumstances that creates a need for a new product, service or business
Ideas are - correct answer a ...
APSC 221 Chapter 13: Recognizing
Opportunities and Generating Ideas
Opportunity is - correct answer ✔a favourable set of circumstances that
creates a need for a new product, service or business
Ideas are - correct answer ✔a thought, an impression or a notion
The 4 essential qualities of an opportunity are - correct answer ✔attractive,
timely, durable and anchored in a product, service or business that creates or
adds value for its buyer or end-user
3 ways to identify opportunity - correct answer ✔1) observing trends -
economic trends, social forces, technological advances, political and
regulatory change
2) solving a problem
3) finding gaps in the marketplace
Opportunity recognition is - correct answer ✔the process of perceiving the
possibility to a profitable new business or new product or service
4 Characteristics of entrepreneurs - correct answer ✔1) prior experience
2) cognitive factors
3) social networks
4) creativity
Network entrepreneurs are - correct answer ✔those who identified their
ideas through social contracts
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