What Is Meant by the Term Venture Concept

question 1

Multiple Choice

What is meant by the term venture concept? 

• A)a two to three sentence description of what the problem the product or service addresses, the market, and the value proposition
• B)the revenue model
• C)the startup requirements
• D)the position of the company in the competitive environment

---

Definitions:

Bindra's Model

A motivational theory that integrates drive reduction theory and incentive theory, emphasizing the role of both internal physiological states and external stimuli.

Central Motive State

This concept refers to the internal and psychological state that drives and directs behavior towards specific goals or needs.

Drives

Internal motivational states that push organisms to fulfill essential needs such as hunger, thirst, or sleep.

Cognitive Maps

Mental representations of physical environments, helping individuals navigate and understand spatial relationships.