Steps In The Entrepreneurial Process Flashcards
What is idea generation?
The process of creating, developing and communicating ideas.
What are the different idea generation techniques?
Brainstorming, reverse brainstorming, focus group, the notebook method, problem inventory analysis, checklist methods, delphi method
What’s an idea?
A concept for a product or service that doesn’t exist or is currently in the market
What is an opportunity?
An idea for a product or service with a market that is willing to pay for that product or service so i can be turned into a profitable business
What are regulatory changes?
Regulations are laws. Rules we have to follow. Rules set by government or bodies given power to set them
What is a business concept?
This is a bridge between an idea and a business plan.
What are the steps in order of the entrepreneurial process?
- Idea generation
- Opportunity identification
- Business concepts
- Resources
- Implementing and managing
- harvesting
