Which of the Following Is the Correct Sequence for the Four

question 30

Multiple Choice

Which of the following is the correct sequence for the four steps in the entrepreneurial process?

• A) deciding to become an entrepreneur, developing successful business ideas, moving from an idea to an entrepreneurial firm, managing the growing entrepreneurial firm
• B) developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, managing and growing the entrepreneurial firm
• C) developing successful business ideas, moving from an idea to an entrepreneurial firm, deciding to become an entrepreneur, managing and growing the entrepreneurial firm
• D) deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, developing successful business ideas, managing and growing the entrepreneurial firm
• E) managing and growing the entrepreneurial firm, developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm

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Definitions:

Legal Position

The stance or argument taken on a legal issue, often based on laws, precedents, and principles.

Partnership

A legal form of business operation between two or more individuals who share management and profits.

Partner

An individual who shares ownership of a business or an endeavor with one or more persons, often sharing in profits and responsibilities.

Profitability

The degree to which a business or activity yields financial profit or gain, often measured as a ratio of net income to revenue.