In the Context of Starting an Entrepreneurial Venture, the First

question 24

Multiple Choice

In the context of starting an entrepreneurial venture, the first formal step is to

• A) secure the finances.
• B) write a business plan.
• C) conduct an opportunity analysis.
• D) get others to support one's ideas.
• E) hire the right people.

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Definitions:

Informal Feedback

The casual and spontaneous comments about performance, often given in day-to-day interactions, not part of a structured evaluation.

Delphi Technique

The Delphi Technique is a structured communication method originally developed as a systematic, interactive forecasting method which relies on a panel of experts.

Employee Morale

The overall outlook, attitude, satisfaction, and confidence that employees feel at work.

Customer Satisfaction

The degree to which a product or service meets or exceeds the customer's expectations.