Lecture: Business Idea Evaluation
5 important questions on Lecture: Business Idea Evaluation
What is the Entrepreneurial Process?
- Opportunity Identification
- Opportunity Evaluation
- Opportunity Exploitation
How is Opportunity identification defined?
- Divergent and convergent thinking skills
What are the 3 elements regarding 'Specific human capital?
- Knowledge of markets
- Knowledge of ways to serve markets
- Knowledge of customer problems
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
What are the 5 general criteria of the evaluation of an idea?
- Innovativeness
- Novelty
- Comprehensibility
- Concreteness
- Organiality
What are more specific criteria( related to the business environment) regarding the evaluation of an idea?
- Problem-solution fit
- Solution-market fit
- Feasibility ( Financial, technical,..)
- Ability to generate positive cash flow
- Speed of revenue generation
- Manageable risk
- Person-means fit (your team and network)
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding