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4

What type of innovation involves making incremental improvements to existing products or processes?

A. Disruptive

B. Radical

C. Incremental

D. Breakthrough

Correct Answer :

C. Incremental


Related Questions

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4

What is the primary characteristic of an entrepreneur?

A. Risk aversion

B. Innovation and risk-taking

C. Following established norms

D. Avoiding challenges

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4

What type of innovation involves making incremental improvements to existing products or processes?

A. Disruptive

B. Radical

C. Incremental

D. Breakthrough

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4

Which of the following is NOT a common method of market entry for international expansion?

A. Franchising

B. Licensing

C. Insourcing

D. Joint venture

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4

What is the term for the process of studying and analyzing the external environment to identify business opportunities and threats?

A. Market research

B. Environmental scanning

C. Competitive analysis

D. SWOT analysis

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4

What is the term for the initial phase of a business where the entrepreneur tests the feasibility of their business idea?

A. Startup phase

B. Pilot phase

C. Feasibility phase

D. Proof of concept phase

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4

Which type of market research involves gathering information directly from people through surveys or interviews?

A. Primary research

B. Secondary research

C. Qualitative research

D. Quantitative research

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4

Which legal form of business provides the most personal liability protection for its owners?

A. Sole proprietorship

B. Partnership

C. Limited liability company (LLC)

D. Corporation

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4

What is a cash flow statement used for in business finance?

A. Tracking money spent on marketing

B. Analyzing the movement of money in and out of a business

C. Calculating the net worth of a business

D. Estimating future sales revenue

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4

Which type of entrepreneurship is focused on creating social or environmental impact rather than purely financial profit?

A. Social entrepreneurship

B. Corporate entrepreneurship

C. Serial entrepreneurship

D. Lifestyle entrepreneurship

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4

Which of the following is NOT a stage in the product development process?

A. Conceptualization and ideation

B. Market research

C. Manufacturing

D. Post-launch evaluation

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4

What is the term for the process of introducing a new product or service to the market?

A. Market entry

B. Product launch

C. Market expansion

D. Market penetration

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4

What is the term for a legal form of business where the owner has limited liability?

A. Sole proprietorship

B. Partnership

C. Corporation

D. Limited liability partnership

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4

What is a business model?

A. A visual representation of a company's structure

B. The way a company creates, delivers, and captures value

C. A list of all the employees in a company

D. The physical location of a business

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4

What is a SWOT analysis used for in entrepreneurship?

A. Evaluating internal and external factors influencing a business

B. Identifying potential customers

C. Calculating financial projections

D. Assessing employee performance

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4

What is the term for a person who provides financial backing for a startup in exchange for ownership equity or debt?

A. Mentor

B. Investor

C. Co-founder

D. Partner

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4

Which of the following is a common form of intellectual property protection for inventions and innovations?

A. Trademark

B. Copyright

C. Patent

D. Trade secret

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4

What type of entrepreneur is characterized by starting multiple businesses over their career?

A. Serial entrepreneur

B. Social entrepreneur

C. Lifestyle entrepreneur

D. Corporate entrepreneur

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4

Which stage of the entrepreneurial process involves turning an idea into a tangible product or service?

A. Opportunity recognition

B. Idea generation

C. Product development

D. Market entry

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4

What is the term for the process of determining the price at which a product or service will be sold to customers?

A. Cost analysis

B. Pricing strategy

C. Market segmentation

D. Revenue forecasting

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4

Which type of entrepreneurship involves creating and operating a business primarily for the lifestyle benefits it provides to the owner?

A. Serial entrepreneurship

B. Social entrepreneurship

C. Lifestyle entrepreneurship

D. Corporate entrepreneurship

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4

What does MVP stand for in the context of startups?

A. Most Valuable Player

B. Minimum Viable Product

C. Most Valuable Product

D. Minimum Valuable Player

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4

Which of the following is NOT a key characteristic of a successful entrepreneur?

A. Perseverance

B. Creativity

C. Risk aversion

D. Adaptability

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4

What is the term for the process of selling a product or service to a foreign market?

A. Exporting

B. Outsourcing

C. Importing

D. Domestication

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4

Which of the following is an example of a non-profit organization that engages in entrepreneurial activities to achieve social or environmental goals?

A. Red Cross

B. Microsoft

C. Coca-Cola

D. Apple Inc.

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4

What is the process of generating, developing, and communicating new ideas for business development called?

A. Market research

B. Product development

C. Innovation

D. Business planning

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4

Which type of innovation involves making significant improvements to existing products or processes?

A. Disruptive

B. Incremental

C. Breakthrough

D. Radical

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4

What is the term for the process of identifying potential customers and tailoring marketing efforts to reach them?

A. Market segmentation

B. Target marketing

C. Customer profiling

D. Product positioning

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4

What is the term for the total market value of all goods and services produced by a country in a given period?

A. Gross Domestic Product (GDP)

B. Net Profit Margin

C. Return on Investment (ROI)

D. Cost of Goods Sold (COGS)

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4

Which of the following is an example of a microenterprise?

A. A multinational corporation

B. A small family-owned bakery

C. A government agency

D. A non-profit organization

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4

What is the term for a legally recognized entity that separates the personal assets of the owners from the business assets?

A. Sole proprietorship

B. Partnership

C. Limited liability company (LLC)

D. Corporation