Chapter 4 Flashcards
1
Q
What is entrepreneur process
A
The entrepreneur process involves finding, evaluating and developing an opportunity by overcoming the strong forces that resist the creation of something new.
2
Q
What are basic considerations of assessment of opportunity
A
- Matching with your mindset
- Need for the resources
- Need for managerial resources
- Corporate structure
3
Q
What is marketing myopia
A
A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs.
4
Q
What are steps for entrepreneur process
A
Idea Business plan Selection of technology Marketing plan Financial plan Organizational plan Operational plan
5
Q
Is there lack of management layers and there is fast decision making in entrepreneurship
A
Yes
6
Q
What is window of opportunity
A
How much time left for that opportunity to make it practical
