Descriptions of the 5 stages of the Entrepreneurial Process
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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Discovery | The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
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Concept Development | The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, and identifies strategies to protect intellectual property.
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Resourcing | The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup, etc.
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Actualization | The stage in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
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Harvesting | The stage in which the entrepreneur decides on venture’s future growth, development, or demise.
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Discovery | First stage in the Entrepreneurial Process
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Concept Development | Second stage in the Entrepreneurial Process
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Resourcing | Third stage in the Entrepreneurial Process
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Acualization | Fourth stage in the Entrepreneurial Process
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Harvesting | Fifth stage in the Entrepreneurial Process
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Created by:
dadehart
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