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- It Ways Of starting a business. You will U Die entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service De that will address the need. • PRE-ACTIVITY Directions: Answer the following. 1. In a scenario where you are creating a product to sell, what are the things that you need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to put up a business? 3 |Page(a) How has information technology transformed business and managerial decision-making?(b) What are some major factors that motivate entrepreneurs to start businesses?Give one example of Sources of ideas for entrepreneurial ventures. 1.Give example of "From the product" 2.Give example of"From the process" 3.Give example of"From the person" 4.Give example of"From the Relationships"
- b. Discuss how can an entrepreneur effectively balance the need to innovate and take risks with the need to manage resources and ensure profitability in the long term?1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…Create questions which you would ask an entrepreneurial funding company. The questions should investigate the peculiarities of obtaining financing, the funding solutions available for Micro Small and Medium Enterprises and the main challenges to providing financing to innovative firms. In addition, questions should investigate other non-financial obstacles to innovation.
- Hi, could you help me answer a question, it would help me with my understanding of the subject. The question is the following “Motivation and decision-making approaches of entrepreneurs play a critical role in their entrepreneurial journey. Discuss how motivation and decision-making approaches may change on the basis of the context, time, and personal characteristics of entrepreneurs.”. Would you be able to answer this question in about 1000 words, please? Thanks in advanceWhy it’s necessary to generate innovative business ideas instead of duplicating available ideas?The keys to recognizing an opportunity lie in the knowledge and experience of the individual entrepreneur and where appropriate the entrepreneurial business. This prior knowledge is a result of a combination of education and Select one: a. Networks b. Prior knowledge of market c. Experience d. Entrepreneurial Alertness This segment of the market is very eager for new technology, "needing" new devices as soon as they are made available. They are intrigued by technology and like to explore it. Select one: a. Late Majority b. Innovators c. Laggards d. Early adopters
- The decision to behave entrepreneurially is the result of the interaction of: * The existence of a viable business idea and relevant business organization The existence of a variable business idea and irrelevant business organization The individual’s personal entrepreneurial competencies and potential The individual's personal entrepreneurial mindset and an opportunityAnswer the following questions, thoroughly. 1. What is the disadvantage of unanticipated means of generating business ideas?2. How may the best business idea be determined? 3. List down at least three business ideas which you think has the potential to succeed, if adapted. Why do you think it has the potential to succeed?Entrepreneurs: a) are primarily motivated by the desire to help others. () b) create value for themselves at the expense of others. c) have little or no impact on others in society. d) create benefits for others while seeking profit for themselves.