The practice of hypothesizing,testing,and validating to create a business model is called ______.
A)scientific entrepreneurship
B)evidence-based entrepreneurship
C)business planning
D)customer value planning

Question

Quizplus · Accepted Answer

Hypothesizing, testing, and validating to create a business model is the core concept of evidence-based entrepreneurship. It allows entrepreneurs to validate their assumptions and refine their business model based on empirical evidence, rather than relying on intuition or guesswork. While scientific entrepreneurship involves a rigorous scientific process to create new products or technologies, evidence-based entrepreneurship focuses on creating sustainable businesses through a scientific approach to business modeling. Business planning and customer value planning may be part of evidence-based entrepreneurship but do not specifically refer to the practice of hypothesizing, testing, and validating a business model. Therefore, the best choice is B.

The Practice of Hypothesizing,testing,and Validating to Create a Business Model