MNE1501 Assignment 2 (COMPLETE ANSWERS) Semester 1 2026 - DUE 8 April 2026

MNE1501 Assignment 2 (COMPLETE ANSWERS) Semester 1 2026 - DUE 8 April 2026; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.8.1..2.7.8..3.3.7.2... Ensure your success with us. An entrepreneurial opportunity exists when: An idea is creative Market demand meets feasibility A product is profitable A business plan is written Which statement best reflects the relationship between ideas and opportunities? All ideas become opportunities Opportunities exist without ideas Ideas are many, but opportunities are few Opportunities do not require feasibility Which of the following is TRUE about opportunities? They are not time-bound They always involve no risk They depend on a window of opportunity They are purely theoretical The concept of window of opportunity refers to: The cost of starting a business The time available to start a venture The number of competitors in a market The financial investment required If an entrepreneur fails to act quickly on an opportunity, the likely consequence is: Increased innovation Reduced competition Competitors may exploit the opportunity Guaranteed success later Which of the following best describes an idea? A creative concept solving a problem A favourable business situation A validated market demand A guaranteed business Which factor is essential when creating an opportunity? Avoiding all risks Positive mindset Ignoring market trends Reducing creativity Why is market analysis important in opportunity creation? It eliminates competition It replaces innovation It reduces costs It identifies market gaps and customer needs Customer feedback is important because it: Guarantees profits Validates and refines ideas Eliminates risk Replaces market research Which of the following is NOT a factor in creating opportunities? Networking Government regulations Avoiding technology Access to information An entrepreneur’s ability to recognise opportunities depends largely on: Luck only Financial resources only Their outlook and experience Government support only Which of the following qualities relates to how long an opportunity can last? Attractiveness Durability Timeliness Translatability Which quality focuses on whether an opportunity can generate revenue? Timeliness Durability Translatability Attractiveness An opportunity is considered attractive when: It is easy to start It requires no resources It has potential to generate favourable outcomes It has no competition Which stage of the entrepreneurial process involves transforming an idea into a business? Idea generation Opportunity evaluation Implementation Market research Which phase of the entrepreneurial process focuses on identifying market gaps? Business planning Idea generation Growth phase Resource allocation A viability study primarily evaluates: Profit potential of the business Creativity of the idea Number of employees Marketing strategies only Which of the following is part of a viability study? Ignoring competition Financial projections Avoiding cost analysis Eliminating risks Entrepreneurship contributes to the economy by: Reducing innovation Limiting job creation Creating employment and economic growth Eliminating small businesses Which of the following best explains why not all ideas become successful business opportunities? Ideas are always expensive to implement Ideas may lack market demand or feasibility Ideas do not require creativity Ideas are always time-bound