One Technique Involves ________,In Which Entrepreneurs Test Their Business Models

question 84

Multiple Choice

One technique involves ________,in which entrepreneurs test their business models on a small scale before committing serious resources to a business that might not work.

• A)a test run
• B)business prototyping
• C)duplicate business models
• D)model prototyping

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Definitions:

Cultural Practices

The customs, rituals, and behaviors that are shared and practiced by members of a particular cultural or social group.

Outgroup Homogeneity Bias

The sociopsychological phenomenon by which members of a group to which one does not belong seem more alike than do members of a group to which one does belong.

In-Group Favoritism Bias

The tendency for individuals to give preferential treatment and express more positive attitudes towards members of their own group as opposed to those of out-groups.

Ethnocentric Error

The mistaken belief that one's own cultural or ethnic group is superior to others, often leading to judging other cultures solely by the values and standards of one's own.