The Process in Which Entrepreneurs Test Their Business Models on a Small

question 95

Multiple Choice

The process in which entrepreneurs test their business models on a small scale before committing serious resources to launch a business that might not work is known as ________.

• A)business modeling
• B)business prototyping
• C)business planning
• D)product or service feasibility analysis

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Definitions:

Business Reports

Formal documents that provide analysis, data, and recommendations to assist in business decision-making.

Increase

To become larger or greater in size, amount, number, or degree.

Action Items

Specific tasks or activities that need to be completed, often identified during a meeting or discussion.

Report

A detailed written account of a situation, event, or research, often used to convey information or findings.