Frank Patterson started a firm in 2011 that creates and manufactures accessories for Apple iPhones. He started with four accessories, and after several months added three new accessories that have been very successful. The fact that Frank recognized the opportunity for the three new accessories only after he started his firm and become immersed in the iPhone accessory industry is an example of the ________ at work.
A) opportunity tenet
B) opportunity rule
C) chance rule
D) access principle
E) corridor principle

Question

Quizplus · Accepted Answer

The corridor principle suggests that once an entrepreneur starts a business, they gain insights and recognize additional opportunities that were not initially apparent. Frank's recognition of new accessory opportunities after starting his firm exemplifies this principle.

Frank Patterson Started a Firm in 2011 That Creates and Manufactures