An example of an activity that is performed during the discovery stage.

Conduct a survey of potential customers

An example of an activity that is performed during the harvesting stage.

Create a five-year plan for the business

An example of an activity that is performed during the concept development stage.

Decide to locate the business in Charlotte

An example of an activity that is performed during the actualization stage?

Hold a clearance sale to reduce inventory

An activity for a business person who is entering the harvesting stage of entrepreneurship.

Considering opening a second store

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EBME Obj. 3.02 The Entrepreneurial Process

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students review the steps in the entrepreneurial process

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Questions 15

Answers

1
Having a large grand opening sale or a summer clearance sale.
Concept Development
Harvesting
Discovery
Actualization
2
Jonathan is acquiring the money needed to start his business.
Concept Development
Resourcing
Discovery
Actualization
3
An example of an activity that is performed during the discovery stage.
Decide to locate the business in Charlotte
Complete an application for an SBA loan
Conduct a survey of potential customers
Create a five-year plan for the business
4
Offering shares of stock to the public and setting goals for the next five years and ten years.
Harvesting
Concept Development
Actualization
Discovery
5
An example of an activity that is performed during the harvesting stage.
Complete an application for an SBA loan
Create a five-year plan for the business
Conduct a survey of potential customers
Decide to locate the business in Charlotte
6
An example of an activity that is performed during the concept development stage.
Decide to locate the business in Charlotte
Complete an application for an SBA loan
Conduct a survey of potential customers
Create a five-year plan for the business
7
An example of an activity that is performed during the actualization stage?
Sell stock to the public through the NYSE
Hold a clearance sale to reduce inventory
Decide to locate the business in Charlotte
Create a five-year plan for the business
8
A business that has been in business for two successful years.
Harvesting
Discovery
Resourcing
Actualization
9
Collecting, reviewing, and interpreting surveys distributed about a business idea.
Discovery
Concept Development
Harvesting
Actualization
10
Sending email surveys to families and offering samples of Tops Popcorn at the grocery store.
Actualization
Resourcing
Concept Development
Discovery
11
Jeff is seeking people and companies to invest in a business venture.
Discovery
Concept Development
Resourcing
Actualization
12
Completing an application for a business loan at the bank.
Resourcing
Concept Development
Discovery
Actualization
13
An example of an activity that is performed during the concept development stage.
Develop a business plan
Create a five-year plan
Complete a loan application
Conduct a market survey
14
An activity for a business person who is entering the harvesting stage of entrepreneurship.
Gathering market research data about the product
Seeking a grant from the Small Business Administration
Having a grand opening for the business
Considering opening a second store
15
Preparing a business plan, selecting a location, and copyrighting the website for a business.
Actualization
Harvesting
Discovery
Concept Development

EBME Obj. 3.02 The Entrepreneurial Process Flashcards | StudBud