The process in which entrepreneurs test their business models on a small scale before committing serious resources to launch a business that might not work is known as ________.
A)business modeling
B)business prototyping
C)business planning
D)product or service feasibility analysis

Question

Quizplus · Accepted Answer

Business prototyping is the process of testing a business model on a small scale, which involves testing key assumptions, identifying potential problems and roadblocks, and making necessary changes before committing significant resources and launching the business. Business modeling, business planning, and product or service feasibility analysis are related concepts that focus on different aspects of setting up a new business, but they do not specifically involve the process of prototyping.

The Process in Which Entrepreneurs Test Their Business Models on a Small