What Are the Three Processes That Entrepreneurs Typically Go Through

question 84

Multiple Choice

What are the three processes that entrepreneurs typically go through before they are able to identify an opportunity for a new business venture?

• A)cost-benefit analysis,market research,and product development
• B)networking,resourcing,and marketing
• C)funding,team building,and resource allocation
• D)idea generation,creativity,and opportunity recognition

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Definitions:

Communicating Expectations

Refers to the process of clearly and effectively outlining and sharing the goals, roles, and responsibilities expected within an organization or between individuals.

Postconventional Level

A stage in moral development where individuals make ethical decisions based on universal principles and internalized morals rather than conforming to societal or authority-driven standards.

Moral Development

The process by which individuals evolve their understanding of what is right and wrong, often described through stages by psychologists.

Ethnocentric

Holding the belief that one's own culture or nationality is superior to others, often leading to judging other cultures solely by the values and standards of one's own culture.