ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A company’s competitors are other companies that are trying to do what?
|
|
Make a profit
|
|
|
Take advantage of the same opportunity
|
|
|
Analyze demographic trends
|
|
|
Use their personal skills and abilities
|
Explanation:
Detailed explanation-1: -Competitive advantages include the attributes of your product or service which competitors find difficult to copy. For example, the quality of your staff: their skills, attitudes and relationships with customers; and the innovative features that constitute the intellectual property of the business.
Detailed explanation-2: -Become an online influencer. Becoming an influencer for your target audience is a great way to differentiate your business in the market. Speak at events in your industry. Niche down. Charge more. Invest in deeper customer relationships. Create an amazing company culture.
There is 1 question to complete.