Author Question: Describe the difference between an idea and an opportunity. Why is the distinction important? ... (Read 55 times)

neverstopbelieb · **on:** Jul 6, 2018

Describe the difference between an idea and an opportunity. Why is the distinction important?

What will be an ideal response?

Question 2

A corporation is formed by filing ________ with the Secretary of State's office in the state of incorporation.

A) a certificate of intent to incorporate
B) articles of business
C) corporate credentials
D) a corporation permit
E) articles of incorporation

harveenkau8139 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business. An opportunity has four essential qualities. It is (1 ) attractive, (2 ) durable, (3 ) timely, and (4 ) is anchored in a product, service, or business that creates or adds value for its buyer or end user. In contrast, an idea is a thought, impression, or notion. It may or may not meet the criteria of an opportunity. This distinction between an idea and an opportunity is important because many entrepreneurial ventures fail not because the entrepreneurs that launched them didn't work hard, but rather because there was no real opportunity to begin with.

Answer to Question 2

E