Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following is true about the process of deliberate opportunity recognition? During the idea generation phase, entrepreneurs should focus on ideas that are

image text in transcribed

Which of the following is true about the process of deliberate opportunity recognition? During the idea generation phase, entrepreneurs should focus on ideas that are valuable, rare, fitting, and costly to imitate. During the idea generation phase, an entrepreneur should filter out unrealistic ideas. During the creativity phase, an entrepreneur may produce new ideas. During the creativity phase, entrepreneurs should focus on ideas that are new and useful. Question 6 In the 1988 movie Coming to America, Eddie Murphy's character Akeem Joffer takes a job at McDowell's, a McDonald's knockoff located in Queens. Akeem is told by the founder of McDowell's that, "Look... me and the McDonald's people got this little misunderstanding. See, they're McDonald's... I'm McDowell's. They got the Golden Arches, mine is the Golden Arcs. They got the Big Mac, I got the Big Mic. We both got two all-beef patties, special sauce, lettuce, cheese, pickles and onions, but, they use the sesame seed bun. My buns have no seeds." Which of the following reasons is the strongest argument for why McDowell's would not be a good entrepreneurial opportunity? It lacks novelty. It lacks perceived desirability. It lacks a market populated with enough people to buy its products. It lacks potential economic value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Entrepreneurship and Beyond

Authors: Timothy s. Hatten

5th edition

538453141, 978-0538453141

More Books

Students also viewed these General Management questions