MME 3 – Study Guide, Lecture Notes, and Exam Preparation Material
entrepreneurship - correct answer ✔✔plays a vital role in economic development
entrepreneurial activity - correct answer ✔✔process on which individuals identify business
opportunities resources
idea generation - correct answer ✔✔discovering innovative or unmet market needs
opportunity recognition - correct answer ✔✔evaluating whether an idea is feasible and
profitable
resource mobilization - correct answer ✔✔securing financial, human, and material resources
implementation - correct answer ✔✔launching and managing the business
growth anss harvesting - correct answer ✔✔expanding operations or existing profitability
business idea - correct answer ✔✔concept that can be used for financial gain, typiccally
centered on products
internal sources
external sources - correct answer ✔✔sources of business idea
brainstorming - correct answer ✔✔produces a wide range of ideas in a short time
entrepreneurship - correct answer ✔✔plays a vital role in economic development
entrepreneurial activity - correct answer ✔✔process on which individuals identify business
opportunities resources
idea generation - correct answer ✔✔discovering innovative or unmet market needs
opportunity recognition - correct answer ✔✔evaluating whether an idea is feasible and
profitable
resource mobilization - correct answer ✔✔securing financial, human, and material resources
implementation - correct answer ✔✔launching and managing the business
growth anss harvesting - correct answer ✔✔expanding operations or existing profitability
business idea - correct answer ✔✔concept that can be used for financial gain, typiccally
centered on products
internal sources
external sources - correct answer ✔✔sources of business idea
brainstorming - correct answer ✔✔produces a wide range of ideas in a short time
