Back to AI Flashcard MakerEntrepreneurship /Dynamics of Entrepreneurship: Business Idea Development
Dynamics of Entrepreneurship: Business Idea Development
This deck covers key concepts from Chapter 3 of 'Dynamics of Entrepreneurship 3e', focusing on the identification, development, and evaluation of business ideas. It includes stages of setting up a business, cultivating creativity, and generating business ideas.
What are the three main stages of setting up a business?
Tap or swipe ↕ to flip
Swipe ←→Navigate
1/10
Key Terms
Term
Definition
What are the three main stages of setting up a business?
1. Identification of a feasible and viable business idea, 2. Drawing up a business plan, 3. Implementation of the business plan.
How can an entrepreneur cultivate a creative attitude?
By convincing people of the need for unique products, learning from others' mistakes, and distinguishing ideas from competitors.
Define creativity in the context of entrepreneurship.
Creativity is the generation of novel and useful ideas, involving both originality and appropriateness.
What are the characteristics of creative people?
They solve problems differently, think imaginatively, see unseen possibilities, and initiate change.
Differentiate between divergent and convergent thinking.
Divergent thinking involves generating many diverse ideas, while convergent thinking involves logically evaluating and choosing the best ideas.
List methods to enhance personal creativity.
Seek ideas actively, write them down, view topics from different perspectives, break routines, explore grey areas, and use creative techniques.
Related Flashcard Decks
| Term | Definition |
|---|---|
What are the three main stages of setting up a business? | 1. Identification of a feasible and viable business idea, 2. Drawing up a business plan, 3. Implementation of the business plan. |
How can an entrepreneur cultivate a creative attitude? | By convincing people of the need for unique products, learning from others' mistakes, and distinguishing ideas from competitors. |
Define creativity in the context of entrepreneurship. | Creativity is the generation of novel and useful ideas, involving both originality and appropriateness. |
What are the characteristics of creative people? | They solve problems differently, think imaginatively, see unseen possibilities, and initiate change. |
Differentiate between divergent and convergent thinking. | Divergent thinking involves generating many diverse ideas, while convergent thinking involves logically evaluating and choosing the best ideas. |
List methods to enhance personal creativity. | Seek ideas actively, write them down, view topics from different perspectives, break routines, explore grey areas, and use creative techniques. |
What are some ways to generate business ideas? | From skills, common needs, existing problems, everyday activities, and other sources. |
What is the purpose of a feasibility study? | To examine the potential of an idea to be converted into a business. |
What questions help determine the feasibility of a business idea? | Do you want to pursue the idea? Is there a market? Can you meet customer needs? Can you advertise effectively? |
What is the role of a bow-tie diagram in developing business ideas? | It helps develop the essence of the idea, explore combinations, and consider new directions. |