True or false: When engaged in the entrepreneurial process, you should avoid making guesses and only act on what you know to be true.ATrueBFalse

Analyzing the Statement

1. Understanding the Entrepreneurial Process: Entrepreneurship involves taking risks and making decisions in uncertain environments. It's not always possible to have complete information.

2. Importance of Decision-Making: In the entrepreneurial process, relying solely on what you know to be true can limit opportunities. Entrepreneurs often need to make informed guesses based on market research, intuition, and experience.

3. Balancing Knowledge and Risk: Successful entrepreneurs can act on insights even when they lack complete certainty. Making educated guesses is part of navigating the uncertainties of entrepreneurship.

4. Conclusion: While it is crucial to base decisions on reliable information, avoiding guesses altogether can hinder innovation and progress.

Final Answer

The correct answer is B: False. In entrepreneurship, making informed guesses based on available information and market insights is often necessary alongside known facts.