ENT 2113 Set Exam Tested
Questions & Reviewed Correct
Detailed Answers
New Update Study Material!!
1. Community - ANSWER builds credibility, stabilizes cash flow
2. Business incubators - ANSWER house new businesses and provide
critical services (office machines, basic furniture, telephones, etc.)
3. Financial support - ANSWER full understanding of cost-benefit; making
sure sufficient financial resources are available prior to funding
4. Business idea generation and initial evaluation - ANSWER different
perspectives and backgrounds, quality ideas = function of creativity and
thoughtfulness of a person
5. Founder should (business idea) - ANSWER list and evaluate personal
skill sets analyze market and look for a gap; needs / demands of a society
compare abilities w gaps
6. Skills analysis - ANSWER not only skills, but a depth of understanding
, 7. Synergy - ANSWER connects skills, understanding, and competitive
advantage
8. Analysis - ANSWER hobbies/activities, education, work experience,
family, additional skills, competitors
9. Gap analysis - ANSWER gap/opportunity exists between demand for a
product or service & supply provided by firms in the market
10. Opportunity identification - ANSWER examining trends around region
that have not reached you yet
-interview and talk to successful entrepreneurs
-discuss potential business ideas w family members
-environmental changes that create opportunities
-brainstorming w entrepreneurs and family members
-examination of patent files
11. Daily frustrations - ANSWER good source of ideas
12. Choosing a business - ANSWER process that takes time, interaction,
consideration, evaluation, iteration
13. Initial analysis - ANSWER performing an in-depth analysis (due
diligence to focus on a single specific idea)
Questions & Reviewed Correct
Detailed Answers
New Update Study Material!!
1. Community - ANSWER builds credibility, stabilizes cash flow
2. Business incubators - ANSWER house new businesses and provide
critical services (office machines, basic furniture, telephones, etc.)
3. Financial support - ANSWER full understanding of cost-benefit; making
sure sufficient financial resources are available prior to funding
4. Business idea generation and initial evaluation - ANSWER different
perspectives and backgrounds, quality ideas = function of creativity and
thoughtfulness of a person
5. Founder should (business idea) - ANSWER list and evaluate personal
skill sets analyze market and look for a gap; needs / demands of a society
compare abilities w gaps
6. Skills analysis - ANSWER not only skills, but a depth of understanding
, 7. Synergy - ANSWER connects skills, understanding, and competitive
advantage
8. Analysis - ANSWER hobbies/activities, education, work experience,
family, additional skills, competitors
9. Gap analysis - ANSWER gap/opportunity exists between demand for a
product or service & supply provided by firms in the market
10. Opportunity identification - ANSWER examining trends around region
that have not reached you yet
-interview and talk to successful entrepreneurs
-discuss potential business ideas w family members
-environmental changes that create opportunities
-brainstorming w entrepreneurs and family members
-examination of patent files
11. Daily frustrations - ANSWER good source of ideas
12. Choosing a business - ANSWER process that takes time, interaction,
consideration, evaluation, iteration
13. Initial analysis - ANSWER performing an in-depth analysis (due
diligence to focus on a single specific idea)
