Question

Given below are two statements:
Statement I: Business ideation is important aspect of venture creation.
Statement II: Conversation that happens in an elevator is known as elevator pitch.In the light of the above statements,
choose the most appropriate answer from the options given below:

• A. Both Statement I and Statement II are correct
• B. Both Statement I and Statement II are incorrect
• C. Statement I is correct but Statement II is incorrect
• D. Statement II is correct but Statement I is incorrect

Answer 1

The Correct Option is C

Let's analyze the given statements one by one to determine their correctness.

1. Statement I: Business ideation is important aspect of venture creation.
   Business ideation refers to the process of generating and developing new business ideas. It involves creativity and innovation, which are vital components for successful venture creation. Identifying and refining these ideas is critical because they form the foundation on which a business is built.
   Conclusion: Statement I is correct.
2. Statement II: Conversation that happens in an elevator is known as elevator pitch.
   An elevator pitch is a brief, persuasive speech that you use to spark interest in what your organization does. You can also use them to create interest in a project, idea, or product. It does not necessarily occur in an elevator; the term "elevator pitch" refers to the idea that it should be short enough to deliver during a brief elevator ride.
   Conclusion: Statement II is incorrect because it misdefines the concept of an elevator pitch.

After evaluating both statements, the correct answer is:
Statement I is correct but Statement II is incorrect