Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
A startup team decides to launch a product based solely on a popular trend they noticed on social media.
B
An entrepreneur conducts market research, analyzes customer feedback, and iteratively adjusts their business model before launching their product.
C
A business owner invests in a new technology simply because a competitor is using it.
D
A team develops a business plan without consulting any data or potential customer insights.
Understanding the Answer
Let's break down why this is correct
Answer
Learning‑by‑thinking methods in entrepreneurship mean that an entrepreneur mentally runs through possible decisions and outcomes before acting, using imagination and scenario planning to anticipate problems. In practice, a founder might imagine launching a product, then mentally walk through each step—market research, prototype design, pricing, distribution—and think about how customers might react, what competitors could do, and how supply chain hiccups might affect costs. By doing this mental rehearsal, the entrepreneur learns about risks, costs, and opportunities without spending real money or time on the market. For example, a tech startup founder might sit down and mentally simulate a user onboarding flow, spotting friction points and adjusting the design before coding anything. This mental rehearsal helps the entrepreneur refine strategy, reduce waste, and increase the likelihood of success.
Detailed Explanation
The entrepreneur first gathers data about the market and listens to customers. Other options are incorrect because It assumes that a popular trend guarantees success; It shows a copy‑cat mindset.
Key Concepts
Learning-by-Thinking Methods
Decision-Making in Entrepreneurship
Market Research
Topic
Learning-by-Thinking Methods
Difficulty
medium level question
Cognitive Level
understand
Practice Similar Questions
Test your understanding with related questions
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Question 3Which of the following scenarios best exemplifies the application of learning-by-thinking methods in entrepreneurship?
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Question 6Which of the following examples best illustrates the principle of learning-by-doing in entrepreneurship?
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Question 7How do learning-by-thinking methods enhance decision-making in entrepreneurship?
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Question 8How can learning-by-thinking methods enhance decision-making in entrepreneurship?
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Question 9Which of the following are key advantages of learning-by-thinking methods in entrepreneurship? Select all that apply.
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Question 10Which of the following examples best illustrates the principle of learning-by-doing in entrepreneurship?
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