The level at which an individual is viewed by society is called social status Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? Product Development Stage SBA stands for Standard business administration Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? Hyper competition Which one of the following is an important source of idea generation due to their familiarity with the needs of market? Distribution channel Which one of the following is the most important characteristic of a successful business website? Speed Members of distribution channels are excellent sources for new ideas because They are familiar with the needs of the market The activity which occurs when the new venture is started is called Departure Point Individuals influencing an entrepreneur’s career choice and style are known as which of the following? Role model Which of the following is alternatively called corporate venturing? Intrapreneurship