UNIT 2 Test Review

Which of the following statements is true about entrepreneurial discovery?

• provides entrepreneurs with professional development training.

• It's an ongoing process that facilitates a business's success rate.

• It's a way to determine the long-term profit that a start-up company can generate.

• It ensures that start-up businesses have continuous funding.

The entrepreneurial discovery process requires knowledge and the recognition of a(n)

• Market Need

• Preventable Accident

• Economic Crisis

• Preventable Accident

Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and

• how things are being done

• when changes were made the last time

• What needs to be done

A business cannot control its

• external environment

• research and development

• production

• personnel

A main reason that environmental scanning is important is so that businesses can be aware of

• potential threats

• competitors' internal environments

• new products

• foreign markets

Which of the following is a true statement about the term "environment"?

• it applies to individuals, not businesses

• it consists of your food groups

• it consists of your surroundings

• it applies to animals, not businesses

Which of the following would be done first in an environmental scan:

• Selecting trends and issues to act on

• Carrying out scanning activities

• Identifying and analyzing important trends and issues

• Identifying participants and responsibilities

A business should conduct environmental scans on a continuous basis so that it can

• change customers' attitudes

• respond to opportunities and threats quickly

• save money

When generating ideas for business, entrepreneurs often look for ways to

• solve problems

• increase liability

• rationalize spending

• control outcomes

The steps in the design thinking process are: defining, empathizing, ideating, prototyping, and testing

• True

• False