Potential owners should examine all of these specific areas before choosing a

Potential owners should examine all of these specific

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37) Potential owners should examine all of these specific areas before choosing a business idea EXCEPT 1.A) work experience.2.B) financial history.3.C) education.4.D) family history.Answer: BExplanation: Potential owners should examine all of these specific areas before choosing a business idea: skills analysis, hobbies and activities, education, work experience, and family. Difficulty: 1 Easy Topic: Generating Business Ideas Learning Objective: 03-01 Describe a systematic means for examining skills in order to generate new business ideas. Bloom’s: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 38) The founders of a small business need to be involved in which of the following tasks when starting the new business?
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Difficulty: 1 Easy Topic: Generating Business Ideas Learning Objective: 03-01 Describe a systematic means for examining skills in order to generate new business ideas. Bloom’s: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 39) ________ is defined as the connection between an entrepreneur’s skills, understanding of an industry, and the ability to create a competitive advantagesuch that the sum of the parts of the new business is greater than the individual parts alone. Difficulty: 1 Easy Topic: Generating Business Ideas
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Learning Objective: 03-01 Describe a systematic means for examining skills in order to generate new business ideas. Bloom’s: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 40) Which of the following experiences can entrepreneurs evaluate when generating business ideas based on their education?
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