________ Is the First Step of the Entrepreneurial Process

question 72

Multiple Choice

________ is the first step of the entrepreneurial process.

• A) Opportunity identification
• B) Opportunity evaluation
• C) Opportunity exploitation
• D) Opportunity feedback
• E) Risk evaluation

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Definitions:

Knowledge-based View

A perspective in strategic management that considers knowledge as the most strategically significant resource of a firm.

Typicality Effect

A cognitive phenomenon where more typical members of a category are processed faster and more efficiently than atypical members.

Expertise

The extensive knowledge or skill in a particular area of study, practice, or interest, obtained from experience and education.

Schematic

Relates to a schematic diagram or representation, often used to simplify and summarize complex information.