Exam 6: Assessment of Entrepreneurial Opportunities

When premature entry into the marketplace causes the failure of a new venture, it can be termed

Surprisingly, growth of sales is generally not considered a critical factor in assessing new ventures.

Sales growth is a critical factor in the

Explain three major reasons why new ventures fail.

Name the pitfall described by the statement, "Engineers and technically trained people are particularly prone to falling in love with an idea for a product or service."

Which evaluation method enables an entrepreneur to judge the potential of the business?

The entrepreneurial motivations of individuals usually relate to which of the following factors?

It is reported that _____ new firms have emerged in the United States every year since the mid-1990s.

Pricing becomes less of a concern when customers become aware of a product's unique characteristics that are superior to the competition.

Most entrepreneurs are objective when they evaluate their new idea.

Product design, reliability, and safety are all examples of

Failure of a new venture can be avoided

The maverick entrepreneur who avoids reaching out and finding help is a myth of the past.

Many entrepreneurs do not understand the marketing life cycle of a new product.

Most entrepreneurs hire lawyers to brief them on the legal issues surrounding a new venture.

Which of the following are questions an entrepreneur can ask to gain insight into the viability of a venture?

Researchers have described a "fully developed new firm" with a number of characteristics, including:

What are three critical factors in a new venture assessment?

Two important factors classified as managerial that could be a cause for failure include human resource problems and the concept of the team approach.

The type of venture that is expected to attract venture capital would most likely be a