During the Opportunity Recognition Process, Elaboration Involves Moving the Concept

question 24

True/False

During the opportunity recognition process, elaboration involves moving the concept forward if it survives the evaluation stage.

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Definitions:

Implied Authority

The authority of an agent to perform acts which are reasonably necessary to accomplish the purpose of an organization.

Express Authority

Legal authority granted explicitly in a document or spoken agreement, allowing individuals or entities to perform certain acts.

Usual Business

Operations and activities that are considered normal and routine in the day-to-day operations of a company.

Capital Contributed

This refers to the amount of money or value of other assets that owners or shareholders have provided to a company for use in the business.