Unit 2.02 Entrepreneurial Process

Question 1

Joan's Jewelry is a business that is independently owned and operated. What stage is this?

Accepted Answer

Actualization

Question 2

Jon is interested in starting a business. He has been acquiring the money needed. What stage?

Accepted Answer

Resourcing

Question 3

I decided to start a business out of my home and am seeking people to invest in this business.

Accepted Answer

Resourcing

Question 4

Offering shares of stock to public investors is which stage of the entrepreneurial process?

Accepted Answer

Harvesting

Question 5

Doing research to see how many families in the area buy popcorn is what stage?

Accepted Answer

Discovery

Question 6

Having a large grand opening sale is which stage of the entrepreneurial process?

Accepted Answer

Actualization

Question 7

Preparing a business plan for a new business is which stage of the entrepreneurial process?

Accepted Answer

Concept Development

Question 8

What is an example of the concept development phase of the entrepreneurial process?

Accepted Answer

Decide where to locate the business

Question 9

What is an example of the harvesting stage of entrepreneurship?

Accepted Answer

Considering opening a second store

Question 10

What is an example of the harvesting phase of the entrepreneurial process?

Accepted Answer

Create a five-year plan for the business

Question 11

Listing people and businesses who might give money to start the business is which stage?

Accepted Answer

Resourcing

Question 12

What is an example of the concept development stage of the entrepreneurial process?

Accepted Answer

Develop a business plan

Question 13

What is an example of the actualization phase of the entrepreneurial process?

Accepted Answer

Hold a clearance sale to reduce inventory

Questions 13