Entrepreneurial Judgment Requires

question 36

Multiple Choice

Entrepreneurial judgment requires

• A) the ability to use perfect information about the suture to your advantage.
• B) the ability to discover new approaches or solutions to complex problems.
• C) the use of government regulations to prevent competition
• D) that a firm make a profit.

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Definitions:

Indirect Competitors

Companies that offer slightly different products or services but compete for the same customer dollars due to overlapping needs or desires.

Competition Section

A segment within a business plan or report that analyzes the competitive landscape, detailing the strengths and weaknesses of competitors within the market.

Larger Market Share

The portion of a market controlled by a particular company or product, with a larger extent signifying dominance or a significant competitive advantage.

Diversification

A risk management strategy that mixes a wide variety of investments within a portfolio.