1. Which step in starting a business involves outlining the strategy, operations, marketing, and financial projections in a comprehensive document?
2. A recognized gap or need that can be turned into a profitable and operational venture is known as a business __________.
3. Which aspect of evaluating a business opportunity involves analyzing funding sources, projected revenues, costs, and working capital requirements?
4. What is a key indicator of a viable business idea, suggesting that customers are ready and willing to purchase the product or service?
5. Protecting creations like business concepts, inventions, brand logos, and unique product names falls under the umbrella of __________ property.
6. Which source of business ideas involves identifying underserved areas or gaps in current market offerings through direct examination?
7. One of the primary reasons mentioned for starting a business is the ability to have control over decision-making and work schedules, which relates to:
8. A promising situation or set of market conditions that can be effectively utilized to create value and generate profit is a business __________.
9. Utilizing patents, trademarks, and copyrights provides what type of safeguard for intellectual property?
10. Evaluating a business opportunity involves performing a __________ study to analyze the potential profitability and practicality of the venture.
11. Which quality of an attractive business opportunity suggests that the potential financial gains are sufficient to justify the investment and effort involved?
12. Among the steps in starting a business, completing all required legal and regulatory procedures ensures __________ compliance.
13. Which type of business opportunity focuses on offering intangible services rather than physical goods?
14. The assessment focusing on required skills, equipment, technology, facility layout, and raw materials needed for a business opportunity is the __________ feasibility assessment.
15. Transforming hobbies or personal passions into viable businesses represents which source of business ideas?
