6. It is the process of considering, evaluating and pursuing market-based activities that are believed to be advantageous for the firm. a. Opportunity-seeking b. Opportunity-seizing c. Opportunity-screening d. Sources of opportunity 7. It is the ability of entrepreneur that can sense without using the five senses, also known as intuition. a. Entrepreneurial mind frame b. Entrepreneurial gut game c. Entrepreneurial heart flame d. Entrepreneurial instinct 8. This is essential to opportunity-seeking which allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations. a. Entrepreneurial mind frame b. Entrepreneurial gut game c. Entrepreneurial heart flame d. Entrepreneurial instinct 9. One of the essentials of entrepreneur's opportunity seeking that refers to the driven passion of an individual. a. Entrepreneurial mind frame b. Entrepreneurial gut game c. Entrepreneurial heart flame d. Entrepreneurial instinct 10. What variable of societal environment includes income level and employment rate? a. Economic forces b. Sociocultural forces c. Political forces d. Technological forces
Answer (1)
The process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm is known as opportunity-seeking .
Opportunity-seeking is pivotal for entrepreneurs because it helps them identify potential areas for growth and innovation. Entrepreneurs engage in this by analyzing market trends, consumer needs, and competitive landscapes to spot opportunities that align with their business objectives.
The ability of an entrepreneur to sense without using the five senses, also known as intuition, is referred to as entrepreneurial gut game .
This term captures the innate ability of some entrepreneurs to make decisions or understand situations through intuition rather than analytical processes. This 'sixth sense' often guides critical business decisions under uncertainty.
Essential to opportunity-seeking is the ability to see things in a positive and optimistic light amidst crises or challenging situations, known as entrepreneurial mind frame .
Maintaining a positive outlook is crucial for entrepreneurs as it enables them to navigate through difficulties by finding innovative solutions and maintaining motivation even when challenges arise.
One of the essentials of an entrepreneur's opportunity-seeking that refers to the individual's driven passion is called entrepreneurial heart flame .
A passionate commitment to their vision or project often fuels entrepreneurs. This 'heart flame' motivates them to pursue their ambitions, inspire their teams, and persist through obstacles.
The variable of the societal environment that includes income level and employment rate is categorized under economic forces .
Economic forces significantly impact business environments by affecting consumer spending, investment opportunities, and overall economic stability. Entrepreneurs must understand these forces to make informed decisions about their strategic directions.
