A person who is passionate about a hobby might be able to turn that hobby into

A person who is passionate about a hobby might be

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9) A person who is passionate about a hobby might be able to turn that hobby into a successful business. 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 10) A rule of thumb in the founding of businesses has always been that an owner whose business is both a vocation and an avocation is difficult to beat. Difficulty: 2 Medium Topic: Generating Business Ideas Learning Objective: 03-01 Describe a systematic means for examining skills in order to generate new business ideas. Bloom’s: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation 11) A gap analysis identifies any differences between the demand by customers and the supply provided by firms currently in the market.
Difficulty: 1 Easy Topic: Opportunity Identification Learning Objective: 03-02 Discuss the elements of opportunity analysis. Bloom’s: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 12) Assume that an opportunity exists in northern Minnesota. A customer needs a “hand warmer” packet. Mary, a new business owner, decides she hasthe ability to address this gap because she knows how to produce hand warmer packets. This process is called gap analysis. Difficulty: 2 Medium Topic: Opportunity Identification Learning Objective: 03-02 Discuss the elements of opportunity analysis. Bloom’s: Apply AACSB: Analytical Thinking Accessibility: Keyboard Navigation

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