Which Element in the Opportunity Recognition Process Developed by Lumpkin

question 7

Multiple Choice

Which element in the opportunity recognition process developed by Lumpkin, Hills and Shrader refers to that part of the process where the individual contemplates an idea or a specific problem?

• A) Preparation
• B) Incubation
• C) Insight
• D) Evaluation

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Definitions:

Long-term Organization Goals

Strategic objectives an organization aims to achieve over an extended period, which guide its direction, operations, and efforts for future development and success.

Strategic Management

The continuous planning, observing, analyzing, and evaluating of everything required for a company to achieve its aims and objectives.

Leadership Responsibility

The duty of leaders to guide, support, and drive their teams or organizations towards achieving shared goals.

Company CEO

The Chief Executive Officer, the highest-ranking individual in a company or organization, responsible for making major corporate decisions.