APSC 221 Final Question and answers 100% correct 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 Final Question and answers 100% correct 2024/2025 APSC 221 Final ( third half of terms)
and ________ is a favourable set of circumstances that creates a need for a new product or service - correct answer oppertunity
what is the difference between an entrepreneur and an intraprene...
APSC 221 Final ( third half of terms)
and ________ is a favourable set of circumstances that creates a need for a
new product or service - correct answer ✔oppertunity
what is the difference between an entrepreneur and an intrapreneur - correct
answer ✔intrapreneur- within the firm, does not possess the risks associated
with entrepreneurship- often has resources at disposal
what is involved in the window of opportunity - correct answer ✔- attractive
-timely
-durable
-creates or adds value
T/F ideas always lead to oppertunity - correct answer ✔F
what are the three ways to identify an oppertunity - correct answer ✔1.
observing trends
2. solving a problem
3. finding gaps in the marketplace
what are the 4 environmental trends suggesting an opportunity - correct
answer ✔1. economic forces
2. social forces
3. technological advances
4. political and regulatory changes
gaps in the market place are often created when... - correct answer ✔a
product or service is needed by a specific niche group of people, but does not
represent a large enough market to be of interest to mainstream retailers
what are the personal characteristics of the entrepreneur - correct answer
✔1. prior experience
2. cognitive factors
3. social networks
4. creativity
what is group think phenomenon - correct answer ✔desire for harmony or
conformity in the group results in irrational or dysfunctional decision making
business ideas are more likely to be generated from weak-tie relationships -
correct answer ✔true
what are the 5 stages of the creative process - correct answer ✔1.
preparation
2. incubation
3. insight and connections
4. evaluation
5. elaboration
what are the major forms of idea generation research - correct answer ✔1.
library
2. internet
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