The initial stages of the entrepreneurial process are generating new business ideas (i.e. creativity and innovation) and recognizing opportunities that have the potential for exploitation (i.e. evaluation and selection).

Related MCQs

• In the creativity and innovation matrix, what is a 'medium level of creativity' and a 'medium level of innovation' referred to as?
• New entrepreneurial ventures face the same marketing opportunities and challenges, as compared to their larger and more well-established counterparts.
• Entrepreneurial Opportunities are defined as: 128
• Entrepreneurial opportunities are a particular type of opportunity, which could lead you to create a self-sustaining venture.
• The following example of networking represents which type of activity: In an entrepreneurial setting, you might be: renewing contact with a old school friend, now working in a finance house, to provide advice or support for the venture; converting an informal contact made while on holiday into a potential client; or building a much closer relationship with a supplier, which may lead to a formal alliance or merger.
• The _____________ describes attempts to sell current products to new customers. Product-customer exploitation strategy
• The entrepreneur who is committed to the entrepreneurial effort because it makes good business sense is classed as a/an _____.
• Melissa is one of the newest and most successful entrepreneurs in the technology industry. She handles numerous dealings with other companies for the exchange of goods and services. Her primary goal is to ensure that all parties involved receive favorable and acceptable terms. Melissa is most probably excellent at the entrepreneurial skill of _______.
• One of the differences between marketing in a corporate setting and an entrepreneurial one is the reliance by the entrepreneur on personal credibility and skills in persuasive communication.
• What are the main differences between marketing in a 'corporate setting' and an 'entrepreneurial' one?