Entrepreneurial Qualities and Decision Making Quiz

Risk-taking is considered a key entrepreneurial quality.

In entrepreneurship, MVP stands for Minimum Viable Product.

Idea generation is the stage of the entrepreneurial process that involves identifying potential business opportunities.

A feasibility study is significant in the entrepreneurial process to determine the financial viability of a business idea.

Market research in entrepreneurial decision-making assesses consumer preferences and trends.

SWOT analysis stands for Strengths, Weaknesses, Opportunities, Threats in the context of decision-making.

Analytical decision-making involves considering all available alternatives and evaluating their pros and cons.

Market demand is an example of an external factor influencing entrepreneurial decision-making.

Proactiveness is the ability to recognize and seize opportunities in the business environment.

Decision making is the process of evaluating and selecting among alternative courses of action.

Resilience is the ability to recover from setbacks, adapt to change, and keep going in the face of adversity.

Confirmation bias involves giving preference to information that confirms pre-existing beliefs or values.

Rational decision-making model involves breaking down the decision-making process into a series of interconnected steps.

Emotional intelligence enhances decision-making in entrepreneurship.

Anchoring bias is the tendency to rely too heavily on the first piece of information encountered when making decisions.