BYU ENT 101 Final Exam ACTUAL UPDATED QUESTIONS AND CORRECT
ANSWERS
Three myths of entrepreneurship 1. Hero
2. Process
3. Money
fundamental attribution error People often attribute far more success and far more failure to the individual than
the individual actually deserves, when in fact other, more difficult to observe
factors, often play a critical role in successful outcome
Entrepreneurship process model (5 steps) 1. Conceptualization
2. Ideation
3. Formulation
4. Germination
5. Implementation
5 phases of Nail It and Scale It Nail the pain
Nail the solution
Nail the marketing strategy
Nail the business model
Scale it
ANSWERS
Three myths of entrepreneurship 1. Hero
2. Process
3. Money
fundamental attribution error People often attribute far more success and far more failure to the individual than
the individual actually deserves, when in fact other, more difficult to observe
factors, often play a critical role in successful outcome
Entrepreneurship process model (5 steps) 1. Conceptualization
2. Ideation
3. Formulation
4. Germination
5. Implementation
5 phases of Nail It and Scale It Nail the pain
Nail the solution
Nail the marketing strategy
Nail the business model
Scale it
